Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) stock was falling hard on Tuesday following the release of its earnings report for its fiscal second quarter of 2018.
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Cracker Barrel Old Country Store, Inc. reported earnings per share of $2.73 for its fiscal second quarter of the year. This is an increase over its earnings per share of $2.19 from the same time last year. It also came in above Wall Street’s earnings per share estimate of $2.31, but wasn’t enough to save CBRL stock.
Net income reported by Cracker Barrel Old Country Store, Inc. for its fiscal second quarter of 2018 was $91.1 million. This is up from its net income of $52.7 million from its fiscal second quarter of 2017. CBRL saw a non-cash benefit of $25 million from the recent tax reform in the U.S.
Cracker Barrel Old Country Store, Inc. also reported operating income of $76.70 million for its fiscal second quarter of 2018. This is down from its operating income of $82.70 million that was reported in the same period of the year prior.
Revenue reported by Cracker Barrel Old Country Store, Inc. in its fiscal second quarter of the year was $787.77 million. The company’s revenue from the same quarter of the previous year was $772.68 million. Analysts were looking for revenue of $787.26 million for the quarter.
Cracker Barrel Old Country Store, Inc. notes that its comparable restaurant sales growth for its fiscal second quarter of 2018 was 1.1%. However, the company’s traffic for the quarter was down by nearly 1%.
CBRL stock was down 6% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.