Cracker Barrel cuts FY26 revenue view to $3.2B-$3.3B from $3.35B-$3.45B

FY26 consensus $3.38B. The company provided the following updated outlook for fiscal 2026: Total revenue of $3.2 billion to $3.3 billion (vs. previous outlook of $3.35 billion to $3.45 billion); Adjusted EBITDA of $70 million to $110 million (vs. previous outlook of $150 million to $190 million); The above amount contemplates $20 million to $25 million in annualized savings in general and administrative expenses, primarily driven by a restructuring of the corporate support center; The above amount also includes an aggregate advertising expense reduction of $12 million to $16 million for the fiscal second quarter through the fiscal fourth quarter compared to the same period in the prior year; Commodity inflation of 2.5% to 3.5% (no change vs. previous outlook); Hourly wage inflation of 3.0% to 4.0% (no change vs. previous outlook); Capital expenditures of $110 million to $125 million (vs. previous outlook of $135 million to $150 million); 2 new Cracker Barrel (CBRL) stores (no change vs. previous outlook).