EarningsQ4 2026 Earnings Report
DE:OLD Q4 2026 EPS Results
Actual EPS€0.88
Consensus EPS€0.16
Beat/MissBeat by +€0.73
One Year Ago EPS€0.66
DE:OLD Q4 2026 Revenue Results
Actual Revenue€758.04M
Expected Revenue€744.86M
Beat/MissBeat by +€13.18M
YoY Revenue Growth-2.15%
Earnings Announcement Details
QuarterQ4 2026
Date09/23/2026
TimeBefore Open
Conference CallWednesday, September 23, 2026
DE:OLD Upcoming Earnings
Cracker Barrel's next earnings date is estimated for November 27, 2026, based on past reporting schedules.
Q4 2026 Earnings Call Audio
DE:OLD Q4 2026 Earnings Call
0:00 / 0:00
Q4 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. Management highlighted improving operating trends, stronger guest and employee metrics, double-digit adjusted EBITDA growth, retail momentum, a strengthened balance sheet and a fiscal 2027 outlook for revenue growth and adjusted EBITDA of $180 million to $200 million. The main challenges were the Q4 restaurant sales and traffic declines, lower-income consumer softness, commodity inflation, higher labor expense, retail markdown pressure and specified legal, tariff and divestiture-related items.Company Guidance
Positive Brand Positioning and Strong Guest Base
Management described Cracker Barrel as a highly differentiated, iconic brand with tremendous potential, a passionate guest base, a strong value equation and 75,000 talented and dedicated employees.
Improving Operating Momentum
Management said the business continues to gain traction, with improvements in underlying traffic trends, key guest metrics and overall financial results over the last several quarters.
Fourth-Quarter Revenue
Total revenue was $849.3 million, including $698.5 million of restaurant revenue and $150.8 million of retail revenue.
Adjusted EBITDA Growth
Adjusted EBITDA was $62.1 million, or 7.3% of total revenue, compared with $55.7 million in the prior year, an increase of 11.4%. The results exceeded management's expectations.
Improved Guest Experience Metrics
The Google Star rating increased 2% year-over-year and remained near an all-time high. Food taste and service scores increased nearly 400 basis points, while food temperature scores improved 500 basis points compared with Q4 last year.
Strong Breakfast Performance
Breakfast remained Cracker Barrel's strongest area in both food scores and traffic trends, and management plans to capitalize on this strength through menu work and marketing.
Food Quality Investments
The company is investing to improve food quality and make it more craveable, with dinner identified as the biggest opportunity. Planned upgrades include chicken, hamburger and steak offerings, as well as improving taste, temperature and quality consistency. Management stated that these investments are embedded in fiscal 2027 guidance.
Retail Business Performance and Differentiation
Comparable-store retail sales increased 0.7%, representing the strongest retail comparable-sales growth since the second quarter of fiscal 2023. Strength was reported in toys and housewares, with additional benefit from pulling forward the Halloween assortment. Management described the retail business as a competitive advantage because Cracker Barrel offers a true retail experience alongside a meal.
Retail Experience Enhancements
The company plans to improve the retail experience through unique quality assortments at a strong value and targeted merchandising enhancements, including simplified product layouts, wider aisles and improved sight lines.
Large Loyalty Program
Cracker Barrel Rewards has over 12.5 million members, who account for over 40% of tracked sales. The company is continuing to improve personalization capabilities and recently launched a new website and app to make the guest experience easier and more seamless.
Improved Employee Turnover
Hourly turnover improved 450 basis points and manager turnover improved 85 basis points compared with the prior year. The company plans to enhance training, development programs and tools to support execution.
Lower Interest Expense and Debt Reduction
Net interest expense declined to $3 million from $4.7 million in the prior year, primarily due to a lower debt balance. Total debt ended the quarter at $337.2 million, $147.4 million below the prior year.
Strengthened Liquidity Position
The sale-leaseback transaction generated $77 million in net proceeds, which were used to pay down debt and partially offset repayment of the $150 million of 0.625% convertible senior notes that matured in June. The revolver was undrawn at quarter-end, and available capacity was $541.3 million.
Fiscal 2027 Revenue and Comparable-Sales Guidance
Fiscal 2027 total revenue is expected to be $3.325 billion to $3.4 billion, assuming comparable-store restaurant sales growth of approximately 3% to 5% with no new stores. Total pricing is expected to be approximately 3%, with pricing highest in Q1 and dropping sequentially each quarter.
Fiscal 2027 Adjusted EBITDA Outlook
Management expects fiscal 2027 adjusted EBITDA of $180 million to $200 million. The outlook reflects the underlying improvement in traffic trends, menu-mix initiatives, increased menu margin and cost savings and efficiency initiatives that management said are not takeaways from the guest.
Planned Capital Investment
Fiscal 2027 capital expenditures are expected to be $110 million to $125 million, consisting of approximately 65% maintenance and 35% technology and other strategic initiatives. Management also highlighted continued investment in food, hospitality, employee training, technology and stores.
Marketing and Loyalty Capabilities
Fiscal 2027 advertising spending is initially expected to be roughly 3% of sales, closer to the company's longer-term run rate. Management said it will continue testing and learning and is willing to spend more if it can drive profitable guest growth. This spending is supplemented by loyalty-program capabilities representing over 40% of sales.
Value Positioning and Traffic Opportunities
Management cited an average check of approximately $16, compared with $27 for casual dining and $20 for family dining. Traffic opportunities identified included loyalty marketing, improved food and hospitality, menu-mix initiatives, retail-to-restaurant merchandising and value offerings such as the $7.99 Sunrise Pancake Special and Early Dine starting at $8.99.
Balanced Capital Allocation Strategy
Management said the company plans to prioritize organic growth while retaining a conservative balance sheet and will discuss dividend policy and future repurchases with the Board. The regular quarterly dividend was announced, and management stated that the forecast provides ample free cash flow to move forward with the business.
Longer-Term Growth Ambitions
Although management said it was too early to provide a detailed longer-term algorithm, it stated that strong sales growth, earnings growth, cash flow, margin improvement, capital allocation, shareholder returns, store investment and a return to unit growth are all part of the potential longer-term equation.
DE:OLD Earnings History
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