Louis Navellier’s Accelerated Income Project

Louis Navellier just unveiled a bold new breakthrough that could send thousands of extra dollars of income flowing into your accounts… consistently for the next 30 years.

Why Cracker Barrel Old Country Store, Inc. Stock is Tumbling Today

CBRL stock is down despite an earnings beat

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.

Why Cracker Barrel Old Country Store, Inc. Stock is Tumbling Today
Source: Shutterstock

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.


Article printed from InvestorPlace Media, https://investorplace.com/2018/02/cracker-barrel-stock-down/.

©2020 InvestorPlace Media, LLC