Restaurant company Cracker Barrel (NASDAQ:CBRL) will be reporting earnings tomorrow morning. Here’s what to look for.
Cracker Barrel met analysts’ revenue expectations last quarter, reporting revenues of $894.4 million, up 6.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA estimates.
Is Cracker Barrel a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Cracker Barrel’s revenue to grow 2.6% year on year to $835 million, a reversal from the 1.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.41 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cracker Barrel has missed Wall Street’s revenue estimates six times over the last two years.
With Cracker Barrel being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for restaurant stocks. However, the segment has faced declining investor sentiment as Cracker Barrel’s peer group is down 10.1% on average over the last month. Cracker Barrel is down 35.1% during the same time and is heading into earnings with an average analyst price target of $53.43 (compared to the current share price of $40.74).
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