Cracker Barrel Q4 Profit Rises; Issues Q1, FY16 Outlook - Quick Facts

(RTTNews) - Cracker Barrel Old Country Store, Inc. (CBRL), the operator of Cracker Barrel Old Country Store restaurant and retail concept, reported fourth quarter net income of $47.4 million, or $1.97 a share, compared to $39.2 million, or $1.63 a share, last year.

On average, 4 analysts polled by Thomson Reuters expected the company to report profit of $1.86 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly total revenue was $719.19 million, up 3.8% from $692.75 million in the comparable quarter last year, while 3 analysts expected revenue of $724.29 million for the quarter. Comparable-store restaurant sales grew by 3.8% and comparable-store retail sales increased 0.6%.

Looking ahead to the first quarter, the company expects earnings of $1.50 to $1.60 per share. Analysts currently expect first quarter earnings of $1.60 per share.

For fiscal 2016, the company expects adjusted earnings per share of between $7.15 and $7.30 and revenue of between $2.90 billion and $2.95 billion. Analysts expect earnings of $7.22 per share and revenue of $2.95 billion.

The increased revenue projection for fiscal 2016 reflects the expected opening of seven or eight new Cracker Barrel stores, and projected increases in comparable store restaurant sales in a range of 2.5% to 3.5%, and comparable store retail sales in a range of 2.0% to 3.0%.