Cracker Barrel (CBRL) Misses Q4 EPS by 8c, Offers Guidance

Cracker Barrel (NASDAQ: CBRL) reported Q4 EPS of $2.25, $0.08 worse than the analyst estimate of $2.33. Revenue for the quarter came in at $784.4 million versus the consensus estimate of $793.01 million.

Fiscal 2022 Outlook:

As a result of the ongoing business impact and significant uncertainty created by the COVID-19 pandemic, including the nationwide increase in infections and responsive public health restrictions brought about by the rise of the "Delta variant" of the virus, the Company is not providing its customary annual earnings guidance for fiscal 2022 at this time.

For the full fiscal year 2022, the Company expects:

• Commodity and wage inflation in the mid-to-high single digits;
• Capital expenditures of approximately $120 million;
• An effective tax rate of approximately 18%; and
• The opening of three new Cracker Barrel locations and 15 new Maple Street Biscuit Company locations.

The Company reminds investors that its outlook for fiscal 2022 reflects a number of assumptions, many of which are outside the Company's control.

For earnings history and earnings-related data on Cracker Barrel (CBRL) click here.

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