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