Cracker Barrel stock took a hit on Tuesday following the release of its earnings report for its fiscal fourth quarter of 2018.
During its fiscal fourth quarter of the year, Cracker Barrel (NASDAQ:CBRL) reported earnings per share of $2.19. This is down from its earnings per share of $2.23 from the same time last year. It was also bad news for Cracker Barrel stock by coming in below Wall Street’s earnings per share estimate of $2.70 for the quarter.
Net income reported by Cracker Barrel during its fiscal fourth quarter of 2018 came in at $61.35 million. This is an increase over the company’s net income of $53.89 million that was reported in its fiscal fourth quarter of 2017.
Cracker Barrel’s earnings report for its fiscal fourth quarter of the year includes operating income of $82.77 million. This is a drop from the restaurant chain’s operating income of $83.24 million that was reported in the same period of the year prior.
Cracker Barrel also reported revenue of $810.83 million for its fiscal fourth quarter of 2018. This is better than the company’s revenue of $743.23 million that was reported in its fiscal fourth quarter of the previous year. However, it was still a blow to Cracker Barrel stock by not reaching analysts’ revenue estimate of $825.52 million for the period.
The most recent earnings report from Cracker Barrel also includes its outlook for fiscal 2019. The company is expecting earnings per share between $8.95 and $9.10 on revenue around $3.04 billion for the year. This isn’t good news for Cracker Barrel stock as Wall Street is estimating earnings per share of $9.60 on revenue of $3.08 billion for fiscal 2019.
CBRL stock was down 5% as of Tuesday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.