Cracker Barrel Q1 EPS Grows
Cracker Barrel stock seems to be over a barrel in the wake of the company's fiscal Q1 2014 results announcement. Key figures rose on a year-over-year basis, topping analysts' expectations. For the quarter, revenue totaled $649 million, up 3% from the $627 million of Q1 2013. Net income also grew, to $27.2 million ($1.14 per diluted share), which was 17% higher than the $23.2 million ($0.97) in the year-ago quarter.
Analysts had been anticipating revenue of $647 million and EPS of $1.13.
The company also provided forward guidance. For the entirety of fiscal 2014, it reaffirmed its previous estimate that it will post revenue of $2.70 billion to $2.75 billion, and EPS of $5.60 to $5.80. The EPS projection for its current Q2 is for $1.50 to $1.60; this is below analyst expectations of $1.65.
At the moment, Cracker Barrel is in the midst of a battle with its largest shareholder, activist investor Biglari Holdings , over control of the company. Biglari recently put up candidates to serve on the firm's board and requested it pay a $20-per-share special dividend. Both efforts were voted down by shareholders earlier this month.
Following the announcement of the results, the company's stock fell by 7.2%, or $8.54, to close today at $109.58 per share.
Editor's note: A previous version of this article inaccurately reported that EPS missed analyst expectations.
The article Cracker Barrel Q1 EPS Grows originally appeared on Fool.com.
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