Cracker Barrel Down 3.41% To $93.98 After Earnings Miss

Cracker Barrel (CBRL) said before open Tuesday that it earned $1.21 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $832.7 million, missing estimates by $13.3 million.

In the same quarter a year ago, the company earned $1.29 per share on revenue of $790.2 million.

The stock is down 3.41% to $93.98 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Cracker Barrel a Bearish Sentiment Rank from InvestorsObserver.

Cracker Barrel has performed a little below average during the past few months. Before the report, Cracker Barrel received a Long-Term Technical Rank by InvestorsObserver of 46, putting it in the bottom half of stocks. The firm was recently trading at a 52-week high of $121.17 on April 12, 2023 and set a 52-week low on June 30, 2022 at $81.87.

Cracker Barrel Old Country Store Inc operates hundreds of full-service restaurants throughout the United States. Its restaurants are open for breakfast, lunch, and dinner, with menus that offer home-style country food. Cracker Barrel's biggest input costs are beef, dairy, fruits and vegetables, pork, and poultry. The company purchases its food products from a few different vendors on a cost-plus basis. All restaurants are located in freestanding buildings and include gift shops, which contribute roughly one fourth of total company revenue. Apparel and accessories are the company's biggest revenue generators in the retail segment of the business.