Cracker Barrel Q4 fiscal 2026 earnings beat Wall Street estimates

Cracker Barrel Q4 fiscal 2026 earnings beat Wall Street estimates

Wed, September 23, 2026 at 3:07 PM GMT+3 2 min read

• CBRL +1.36%

Cracker Barrel Old Country Store reported fiscal fourth-quarter results on Wednesday that topped Wall Street estimates, sending CBRL stock up 8.3% to $49.25.

Adjusted earnings came in at 99 cents per diluted share for the quarter ended July 31. Analysts had projected 26 cents per share, according to Barron's. At $849.3 million, revenue slipped 2.2% year over year yet cleared the analyst consensus of $845 million, according to Barron's. GAAP net income was $12.2 million, up from $6.8 million in the same quarter a year earlier.

Adjusted EBITDA reached $62.1 million, compared with $55.7 million in the prior-year quarter. The company noted that figure included a benefit of roughly $9.1 million related to tariff refunds, net of investments. On a comparable-store basis, restaurant sales were down 2.1% year over year, whereas retail sales posted a modest 0.7% gain.

The results marked the first earnings report under President and Chief Executive Officer David Deno, who took the helm on August 10. "The Company is focused on the right areas and has a strong plan, as demonstrated by the continued improvements in the underlying traffic trend, key guest metrics, and EBITDA results," Deno said in a statement.

Cracker Barrel also provided its fiscal 2027 outlook, projecting total revenue of $3.325 billion to $3.4 billion, with comparable-store restaurant sales growth of 3% to 5% and no new store openings. The company expects adjusted EBITDA of $180 million to $200 million. Analysts had expected a fiscal 2027 revenue outlook of $3.38 billion, according to Barron's. The company also declared a quarterly dividend of $0.25 per share, payable November 12 to shareholders of record as of October 16.

During the quarter, Cracker Barrel reduced its total debt to $337.2 million from $484.6 million at the end of fiscal 2025. The company repaid $150 million in convertible notes that matured in June and used roughly $77 million in net proceeds from a sale-leaseback of 26 store locations to further cut debt.

Cracker Barrel named Deno as chief executive in July, replacing Julie Masino, who stepped down from the role and from the company's board. Deno previously served as chief executive of Bloomin' Brands from 2019 to 2024.

The chain also divested its Maple Street Biscuit Company subsidiary during the quarter, transferring the brand and assets at 35 locations to Biscuit Belly, LLC and closing the remaining 16 Maple Street outlets. Cracker Barrel ended the fiscal year operating 655 company-owned locations.