Restaurant company Cracker Barrel (NASDAQ:CBRL) will be reporting results this Wednesday after market hours. Here’s what to look for.
Cracker Barrel met analysts’ revenue expectations last quarter, reporting revenues of $821.1 million, flat year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat 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 decline 4.3% year on year to $855.5 million, a reversal from the 6.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.77 per share.
The majority of analysts covering the company have 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 four times over the last two years.
Looking at Cracker Barrel’s peers in the sit-down dining segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Brinker International delivered year-on-year revenue growth of 21%, beating analysts’ expectations by 1.6%, and Red Robin reported a revenue decline of 5.5%, topping estimates by 1.6%. Brinker International traded up 1.8% following the results while Red Robin was also up 1.7%.
Read our full analysis of Brinker International’s results here and Red Robin’s results here.
Investors in the sit-down dining segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. Cracker Barrel is down 12.9% during the same time and is heading into earnings with an average analyst price target of $55 (compared to the current share price of $52.90).
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