Cracker Barrel (CBRL) Q2 Earnings: What To Expect

Restaurant company Cracker Barrel (NASDAQ:CBRL) will be reporting earnings tomorrow morning. Here’s what to expect.

Cracker Barrel met analysts’ revenue expectations last quarter, reporting revenues of $817.1 million, down 1.9% year on year. It was a strong quarter for the company, with a solid beat of analysts’ earnings estimates and full-year revenue guidance topping analysts’ expectations.

Is Cracker Barrel a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Cracker Barrel’s revenue to grow 7.2% year on year to $897.2 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.10 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cracker Barrel has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Cracker Barrel’s peers in the sit-down dining segment, some have already reported their Q2 results, giving us a hint as to what we can expect. First Watch delivered year-on-year revenue growth of 19.5%, meeting analysts’ expectations, and Red Robin reported flat revenue, topping estimates by 2.7%. First Watch traded up 11.1% following the results while Red Robin was down 8.9%.

Read our full analysis of First Watch’s results here and Red Robin’s results here.

There has been positive sentiment among investors in the sit-down dining segment, with share prices up 2.1% on average over the last month. Cracker Barrel is up 3.6% during the same time and is heading into earnings with an average analyst price target of $43.14 (compared to the current share price of $42.37).

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