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Last Update: 07-Nov-11 10:13 ET
Cracker Barrel Slightly Raises Fiscal Year 2012 Guidance
Cracker Barrel (CBRL $45.20 +2.27) announced that it expects to see earnings in the range of $0.99 to $1.04, includes charges of $0.06 per diluted share for expenses relating to the proxy contest with Biglari Holdings Inc, versus the $0.89 Capital IQ Consensus Estimate; sees revenues of $598.4 million versus $600.61 million Capital IQ Consensus Estimate.
In fiscal year 2012, the company raised its earnings guidance to $4.10 to $4.25, prior $4.05 to $4.20 versus $4.10 Capital IQ Consensus Estimate.
"We believe that the sequential improvement in traffic and sales during the quarter, and the improvement in earnings per share compared to our previous expectations, demonstrate the early success of the six strategic priorities that we discussed in September... We continue to be concerned about consumer spending, but are pleased that our new initiatives appear to be delivering improved results. In September, we offered full-year earnings guidance of between $4.05 and $4.20 per diluted share, and noted that our guidance did not reflect any proxy contest expenses. Given our performance in the first quarter, we are increasing our full-year earnings guidance to between $4.10 and $4.25 per diluted share, excluding proxy expenses which we now estimate at between $0.11 and $0.14 per diluted share."
In fiscal year 2012, the company raised its earnings guidance to $4.10 to $4.25, prior $4.05 to $4.20 versus $4.10 Capital IQ Consensus Estimate.
"We believe that the sequential improvement in traffic and sales during the quarter, and the improvement in earnings per share compared to our previous expectations, demonstrate the early success of the six strategic priorities that we discussed in September... We continue to be concerned about consumer spending, but are pleased that our new initiatives appear to be delivering improved results. In September, we offered full-year earnings guidance of between $4.05 and $4.20 per diluted share, and noted that our guidance did not reflect any proxy contest expenses. Given our performance in the first quarter, we are increasing our full-year earnings guidance to between $4.10 and $4.25 per diluted share, excluding proxy expenses which we now estimate at between $0.11 and $0.14 per diluted share."
