Cracker Barrel Misses On Q4 Earnings; Plans $100M Stock Buyback, Raises Dividend To Pre-Pandemic Level

  • Cracker Barrel Old Country Store Inc CBRL reported fourth-quarter FY21 revenue growth of 58.4% year-on-year, to $784.40 million, missing the analyst consensus of $794.03 million. Revenue decreased 0.3% versus Q4 of FY19.
  • Comparable retail sales increased 74.8%, and comparable restaurant sales rose 53.5% versus Q4 FY20.
  • Comparable retail sales increased 18.2%, and comparable restaurant sales decreased 6.8% compared to Q4 FY19.
  • General and administrative expenses for the quarter fell 9.8% Y/Y to $36.95 million. The operating margin was 8%, and operating income for the quarter rose 56% to $62.7 million.
  • Cracker Barrel held $144.6 million in cash and equivalents as of July 30, 2021.
  • Adjusted EPS of $2.25 missed the analyst consensus of $2.33.
  • Cracker Barrel's Board of Directors declared a regular quarterly dividend of $1.30 per share, representing a return to the pre-pandemic quarterly dividend level. The company's prior quarterly dividend was $1.00 per share.
  • The company plans to repurchase up to $100 million of outstanding common stock.
  • Outlook: Cracker Barrel expects FY22 commodity and wage inflation in the mid-to-high single digits.
  • Price Action: CBRL shares are trading lower by 2.36% at $135.625 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsDividendsBuybacksMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!