Cracker Barrel to Report Q4 Earnings: Is a Beat in Store?
Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) is scheduled to report fourth-quarter fiscal 2024 results on Sept. 19. In the last reported quarter, CBRL registered an earnings surprise of 57.1%.
Trend in Estimate Revision
The Zacks Consensus Estimate for fiscal fourth-quarter earnings per share is pegged at $1.17, which indicates a deterioration of 34.6% from $1.79 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at $898.8 million, which implies an increase of 7.4% from the year-ago quarter’s reported figure.
Let’s check out the factors that might have influenced CBRL’s performance in the quarter to be reported.
Factors at Play for CBRL
Cracker Barrel’s fiscal fourth-quarter top line is likely to have been aided by menu innovation, higher menu pricing, expansion and other sales-building efforts. Given the growing demand for its breakfast category, including Homestyle Chicken, French Toast, Barrel Bites and beverages, Cracker Barrel introduced its $5 take-home meals at the beginning of fiscal 2024, which is expected to have aided the company’s top line.
The company is also benefiting from growth in off-premise sales. It continues to focus on off-premise initiatives, such as curbside delivery, third-party delivery and family …
Full story available on Benzinga.com