Cracker Barrel Q2 Adj. EPS Beats Estimates; Lifts FY15 EPS View - Quick Facts

(RTTNews) - Cracker Barrel Old Country Store, Inc. (CBRL), the operator of Cracker Barrel Old Country Store restaurant and retail concept, reported second quarter net income of $47.2 million, or $1.96 a share, compared to $37.1 million, or $1.55 a share, last year.

Adjusted earnings for the latest second quarter rose to $1.93 per share from $1.56 per share in the prior-year quarter. On average, 6 analysts polled by Thomson Reuters expected the company to report profit of $1.62 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly total revenue was $755.97 million, up 8.2% from $698.49 million in the comparable quarter last year, while 5 analysts expected revenue of $734.11 million for the quarter. Comparable-store restaurant sales grew by 7.9% and comparable-store retail sales increased 3.2%.

For fiscal 2015, the company now expects adjusted earnings per share of between $6.40 and $6.50 and total revenue of 2.80 billion and $2.85 billion. The revenue projection for fiscal 2015 reflects the expected opening of six new Cracker Barrel stores for the year, projected increases in comparable store restaurant sales of between 3.5% to 4.5%, and comparable store retail sales of between 2.5% to 3.5%.

Analysts now expect fiscal 2015 earnings of $6.12 per share and revenue of $2.82 billion.

Earlier, the company expected earnings of $5.95 to $6.10 per share and total revenue of about $2.8 billion.