Business
CRACKER BARREL REPORTS FIRST QUARTER FISCAL 2026 RESULTS AND UPDATES FISCAL 2026 OUTLOOK
LEBANON, Tenn., Dec. 9, 2025 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today reported its
About this update from Cracker Barrel Old Country Store, Inc.
[{"type":"text","content":"LEBANON, Tenn., Dec. 9, 2025 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. (\"Cracker Barrel\" or the \"Company\") (Nasdaq: CBRL) today reported its financial results for the first quarter of fiscal 2026 ended October 31, 2025.Cracker Barrel President and Chief Executive Officer Julie Masino said, \"First quarter results were below our expectations amid unique and ongoing headwinds. We have adjusted our operational initiatives, menu, and marketing to ensure we are consistently delivering delicious food and exceptional experiences. Additionally, we are executing a variety of cost savings initiatives to bolster our financial performance. Although our recovery will take time, our teams are more committed than ever, and we are confident that we will regain momentum.\"First Quarter Fiscal 2026 HighlightsTotal revenue was $797.2 million. Compared to the prior year first quarter, total revenue decreased 5.7%.Comparable store restaurant sales decreased 4.7% over the prior year quarter, and comparable store retail sales decreased 8.5%.GAAP earnings (loss) per diluted share were ($1.10), and adjusted1 earnings (loss) per diluted share were ($0.74).GAAP net income (loss) was ($24.6) million compared to the prior year quarter GAAP net income of $4.8 million.Adjusted EBITDA1 was $7.2 million, compared to the prior year quarter adjusted EBITDA1 of $45.8 million.First Quarter Ended(In thousands, except per share amounts)10/31/2511/1/24Revenue$797,188$845,089GAAP net income (loss) ($24,622)$4,844Adjusted net income (loss)1($16,429)$10,165Adjusted EBITDA1$7,193$45,806GAAP earnings (loss) per share – diluted($1.10)$0.22Adjusted1 earnings (loss) per share – diluted($0.74)$0.45Balance Sheet & Capital AllocationThe Company ended the first quarter with total debt of $550.3 million, comprised of $149.4 million of short-term debt related to its 0.625% Convertible Senior Notes due June 2026, $335.9 million of long-term debt related to its 1.75% Convertible Senior Notes due 2030, and $65.0 million drawn on the revolver.The Company ended the first quarter with a consolidated total leverage ratio3 of 2.8x and available liquidity3 of $485 million.The Company announced that its Board of Directors declared a quarterly dividend of $0.25 per share of the Company's common stock. The quarterly dividend is payable on February 11, 2026 to shareholders of r...