Cracker Barrel Boosts Outlook Again as Q1 Earnings Top Expectations (CBRL)

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Restaurant operator Cracker Barrel Old Country Store, Inc. ( CBRL ) on Tuesday said its first quarter earnings rose 25% from last year and raised its full-year outlook.

The Lebanon, TN-based company reported first quarter net income of $19 million, or 81 cents per share, compared with $15.2 million, or 64 cents per share, in the year-ago period. Excluding special items, adjusted profit was 86 cents.

Revenue rose 4.5% from last year to $608.5 million.

On average, Wall Street analysts expected a much smaller profit of 75 cents per share, albeit on slightly higher revenue of $609 million.

Looking ahead, CBRL said it now expects full-year earnings to range from $4.35 to $4.45 per share. The company had already boosted its estimates back in February to $4.20 to $4.35 per share for the year.

Cracker Barrel shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of Cracker Barrel ( CBRL ) have a 2.75% dividend yield, based on last night's closing stock price of $58.13. The stock has technical support in the $53-$55 price area. The shares are trading at all-time highs.

Cracker Barrel Old Country Store, Inc. ( CBRL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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