Cracker Barrel Q3 Profit Beats Estimates - Quick Facts

(RTTNews) - Cracker Barrel Old Country Store, Inc. (CBRL) reported that its third-quarter net income increased to $28.73 million or $1.20 per share, from $24.60 million or $1.02 per share, last year. Earnings per share was $1.23 when adjusted for special meeting expenses.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.22 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $643.30 million from $640.41 million, prior year. Analysts expected revenue of $642.87 million for the quarter. Comparable store restaurant sales decreased 0.6%, while comparable store retail sales increased 0.9%. The company expects earnings per share for 2014 fiscal year of between $5.50 and $5.60, which implies adjusted EPS for the fourth quarter of between $1.50 and $1.60. The Company now expects total revenue for the year of approximately $2.7 billion.

Analysts expect the company to report fiscal 2014 earnings per share of $5.70 on revenue of $2.69 billion. Analysts expect the company to report fourth-quarter earnings per share of $1.69.

The company noted that its revenue projection for fiscal 2014 reflects the expected opening of seven new Cracker Barrel stores, projected increases in comparable store restaurant sales of approximately 0.5%, and approximately flat comparable store retail sales.