Biglari Capital Responds to Cracker Barrel's Preliminary Q1 2025 Announcement
Cracker Barrel Old Country Store, Inc. (CBRL)
Last cracker barrel old country store, inc. earnings: 2/25 08:00 am
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US:NASDAQ Investor Relations:
investor.cbrlgroup.com/investor-relations
Company Research
Source: PR Newswire
San Antonio, TX, Nov. 14, 2024 /PRNewswire/ -- Biglari Capital Corp. today issued the following response to Cracker Barrel Old Country Store, Inc.'s (NASDAQ: CBRL) first quarter 2025 earnings announcement.Cracker Barrel's preliminary Q1 2025 earnings announcement reinforces our concerns that the Company is on the wrong track.The Company did not disclose the change in guest traffic, which continued to decline during the quarter.The adjusted EBITDA margin in Q1 2025 was 5.4%, 70 bps lower than in Q1 2023, and similar to that in Q1 2024. Considering FY 2024 was the worst year in Cracker Barrel's history, the fact that Q1 2025 results are comparable to Q1 2024 performance suggests that the transformation plan is not working.Importantly, Cracker Barrel did not change its FY 2025 guidance. Management expects revenue and adjusted EBITDA in FY 2025 to be similar to or lower than in FY 2024 (assuming the midpoint of guidance), despite opening two new Cracker Barrel stores and three to four new
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CBRL
News
- Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) had its price target raised by analysts at Loop Capital from $45.00 to $55.00. They now have a "hold" rating on the stock.MarketBeat
- Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) had its price target raised by analysts at Bank of America Co. from $45.00 to $53.00. They now have an "underperform" rating on the stock.MarketBeat
- Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) had its price target raised by analysts at UBS Group AG from $42.00 to $60.00. They now have a "neutral" rating on the stock.MarketBeat
- Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) had its price target raised by analysts at Piper Sandler from $46.00 to $58.00. They now have a "neutral" rating on the stock.MarketBeat
CBRL
Earnings
- 12/4/24 - Beat
CBRL
Sec Filings
- 12/9/24 - Form 4
- 12/4/24 - Form 10-Q
- 12/4/24 - Form 8-K
- CBRL's page on the SEC website