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Jan 31, 2025
Cracker Barrel Q2 2026 Earnings Report
Cracker Barrel reported second quarter fiscal 2026 results with a significant decline in net income and comparable store sales.
Key Takeaways
Cracker Barrel faced a challenging second quarter with total revenue declining 7.9% to $874.8 million and GAAP net income falling to $1.3 million. The company experienced broad-based sales pressure in both restaurant and retail segments, though management highlighted improvements in leading guest metrics and a disciplined focus on operational excellence.
Total revenue decreased 7.9% year-over-year to $874.8 million, driven by lower comparable store sales.
Comparable store restaurant sales fell 7.1%, while comparable store retail sales dropped 9.2%.
GAAP net income saw a sharp decline from $22.2 million in the prior year to $1.3 million.
The company updated its full-year fiscal 2026 revenue guidance to a range of $3.24 billion to $3.27 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company narrowed its full-year revenue and adjusted EBITDA outlook while lowering expected inflation and capital expenditure ranges.
Positive Outlook
- Total revenue guidance narrowed to $3.24 billion - $3.27 billion.
- Commodity inflation outlook improved to 2.0% - 2.5%.
- Hourly wage inflation outlook improved to 2.5% - 3.0%.
- Expected net cash benefit of $46 million in Q3 from litigation settlement.
- Maintained plan to open 2 new Cracker Barrel stores.
Challenges Ahead
- Adjusted EBITDA guidance range narrowed to $85 million - $100 million.
- Comparable store sales remain under pressure.
- Total debt remains significant at $531.5 million.
- Capital expenditures still require $105 million - $115 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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