Cracker Barrel tops 4Q profit forecasts

Associated Press |

LEBANON, Tenn. (AP) _ Cracker Barrel Old Country Store Inc. (CBRL) on Wednesday reported fiscal fourth-quarter earnings of $53.9 million.

On a per-share basis, the Lebanon, Tennessee-based company said it had profit of $2.23.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.18 per share.

The restaurant operator posted revenue of $743.2 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $750.3 million.



For the year, the company reported profit of $201.9 million, or $8.37 per share. Revenue was reported as $2.93 billion.

Cracker Barrel expects full-year earnings to be $8.85 to $9 per share, with revenue expected to be $3.1 billion.

Cracker Barrel shares have dropped 11 percent since the beginning of the year.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBRL at https://www.zacks.com/ap/CBRL

Keywords: Cracker Barrel Old Country Store, Earnings Report

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