Cracker Barrel Old Country Store's stock soared over 5% in Wednesday's pre-market trading, outperforming the broader market. The rally came after the restaurant chain reported better-than-expected fiscal first-quarter earnings and reaffirmed its full-year outlook.
For the quarter ended November 1st, Cracker Barrel posted adjusted earnings of $0.45 per share, surpassing analysts' consensus estimate of $0.37. Revenue rose 2.6% year-over-year to $845.1 million, also topping expectations of $833.2 million. The company attributed the revenue growth to menu price increases, which offset a slight decline in retail sales.
Looking ahead, Cracker Barrel reaffirmed its fiscal 2025 outlook, projecting total revenue between $3.4 billion and $3.5 billion. The guidance was in line with Wall Street's expectations of $3.45 billion, reflecting optimism in the company's ability to continue driving growth through strategic pricing and cost management initiatives.
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