The earnings call reflects a challenging period for Cracker Barrel, marked by declines in revenue, traffic, and earnings. While there are positive steps being taken in terms of leadership changes, menu innovation, and cost-saving initiatives, the significant downturn in key financial metrics and operational challenges weigh heavily on the overall performance.

Company Guidance

During Cracker Barrel's Fiscal 2026 First Quarter Conference Call, the company provided guidance on several key financial metrics. The company reported a total revenue of $797.2 million, down 5.7% from the previous year, with restaurant revenue decreasing by 4.8% and comparable store restaurant sales dropping by 4.7%. Adjusted EBITDA for the quarter was $7.2 million, or 0.9% of total revenue, significantly down from $45.8 million or 5.4% of total revenue in the prior year. The company highlighted challenges, including a 7.3% decline in traffic and a negative 1.2% menu mix, exacerbated by a difficult macroeconomic environment. Fiscal 2026 projections include total revenue between $3.2 billion and $3.3 billion, commodity inflation of 2.5% to 3.5%, and adjusted EBITDA ranging from $70 million to $110 million. Cracker Barrel also announced a reduction in capital expenditures to $110 million to $125 million, alongside a restructuring to achieve annualized G&A savings of approximately $20 million to $25 million.

Leadership and Operational Changes

Cracker Barrel made key operational leadership changes, promoting Doug Hisel to Senior Vice President, Store Operations. The changes emphasize flawless food, operational precision, and shared accountability, leading to improvements in guest metrics such as Google star ratings and service quality.

Loyalty Program Growth

Cracker Barrel Rewards Loyalty Program continues to grow impressively, with over 10 million members now accounting for 40% of tracked sales. The program helps in driving traffic and receiving valuable feedback from guests.

Introduction of New Menu Items

New and returning menu items, like the Breakfast Burger and Country Fried Turkey, have been well-received by guests, indicating positive feedback and the potential for increased traffic.

Cost-Saving Initiatives

The company is implementing cost-saving actions, including a restructuring of the corporate support center and reducing planned advertising spend, anticipating G&A savings of approximately $20 million to $25 million annually.

Cracker Barrel (CBRL) Earnings, Revenues Date & History

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CBRL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 03, 2026	2026 (Q2)	-0.31 / -	1.38	―	―	―
Dec 09, 2025	2026 (Q1)	-0.80 / -0.74	0.45	-264.44% (-1.19)	―
Sep 17, 2025	2025 (Q4)	0.77 / 0.74	0.98	-24.49% (-0.24)	―
Jun 05, 2025	2025 (Q3)	0.21 / 0.58	0.88	-34.09% (-0.30)	―
Mar 06, 2025	2025 (Q2)	1.08 / 1.38	1.37	0.73% (<+0.01)	―
Dec 04, 2024	2025 (Q1)	0.37 / 0.45	0.51	-11.76% (-0.06)	―
Sep 19, 2024	2024 (Q4)	1.10 / 0.98	1.79	-45.25% (-0.81)	―
May 30, 2024	2024 (Q3)	0.66 / 0.88	1.21	-27.27% (-0.33)	―
Feb 27, 2024	2024 (Q2)	1.36 / 1.37	1.48	-7.43% (-0.11)	―
Nov 30, 2023	2024 (Q1)	0.74 / 0.51	0.99	-48.48% (-0.48)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CBRL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 09, 2025	$27.00	$27.95	+3.52%
Sep 17, 2025	$49.28	$45.52	-7.63%
Jun 05, 2025	$57.19	$53.10	-7.15%
Mar 06, 2025	$39.63	$42.63	+7.57%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.