Cracker Barrel posts strong Q4 earnings under new CEO David Deno

Cracker Barrel’s latest quarterly report showed adjusted earnings of $0.99 per diluted share for the period ending July 31, dramatically outpacing the 26-cent consensus estimate. Revenue declined 2.2% year over year to $849.3 million, yet remained above the $845 million expected by analysts. GAAP net income increased to $12.2 million from $6.8 million in the comparable quarter last year, while adjusted EBITDA grew to $62.1 million, helped by roughly $9.1 million in tariff-refund benefits.

Comparable-store restaurant sales fell 2.1%, whereas retail sales rose modestly 0.7%. The report marked the first earnings release for President and CEO David Deno, who succeeded Julie Masino in August. Deno highlighted improvements in traffic trends, guest metrics, and EBITDA, and the company issued a fiscal 2027 outlook with revenue projected between $3.325 billion and $3.4 billion and adjusted EBITDA of $180-$200 million. The firm also cut debt to $337.2 million after repaying $150 million in convertible notes and using proceeds from a sale-leaseback of 26 stores.