Restaurant Chain Cracker Barrel Posts Mixed Q3 Earnings Due To Lower Traffic: Details
Portfolio Pulse from Shivani Kumaresan
Cracker Barrel Old Country Store Inc (NASDAQ:CBRL) reported mixed Q3 FY24 earnings with a sales decline of 1.9% year-on-year, missing analyst estimates. Despite lower traffic and increased general and administrative expenses, adjusted EPS beat expectations. The company lowered its FY24 sales outlook and reduced its quarterly dividend.
May 30, 2024 | 2:53 pm
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Cracker Barrel reported a mixed Q3 FY24 with a 1.9% sales decline, missing analyst estimates. Despite lower traffic and higher expenses, adjusted EPS beat expectations. The company lowered its FY24 sales outlook and reduced its quarterly dividend.
The mixed earnings report shows both positive and negative aspects. While sales and traffic were down, the adjusted EPS beat expectations. The lowered FY24 sales outlook and reduced dividend are negative, but the stock price is up 3.17%, indicating a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100