Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares are trading higher on Thursday.
The company reported second-quarter adjusted earnings per share of $1.38 beating the street view of $1.00. Quarterly sales of $949.44 million (+1.5% year over year), outpaced the analyst consensus estimate of $943.58 million.
Comparable store restaurant sales increased 4.7%, and comparable store retail sales increased 0.2%.
Adjusted EBITDA was $74.6 million, a 19.6% increase compared to the prior year’s adjusted EBITDA of $62.4 million. Adjusted EBITDA margin expanded to 7.9% from 6.7% in the year-ago period.
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“Despite some recent industry-wide softness, these results, together with the continued improvements in key guest and operational metrics and the initiatives we have planned for our important fourth quarter, make us confident in raising our financial outlook for the remainder of the year,” Cracker Barrel President and Chief Executive Officer Julie Masino said.
The company’s quarterly dividend of $0.25 per share is payable on May 14, 2025, to shareholders of record as of April 11, 2025.
Outlook: Cracker Barrel revises FY25 total revenue outlook from $3.4 billion – $3.5 billion to $3.45 billion – $3.50 billion (estimate: $3.46 billion).
Adjusted EBITDA is expected in the range of $210 million to $220 million versus the previous outlook of $200 million to $215 million.
Price Action: CBRL shares are trading higher by 20.6% to $48.59 at last check Thursday.
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