CRACKER BARREL OLD COUNTRY STORE (CBRL) Company Report

Cracker Barrel reported Q2 2026 total sales of $874.8 million and Adjusted EBITDA of $38.2 million, with total revenue decreasing 7.9% from the prior year.
Comparable store restaurant sales decreased by 7.1%, which included a 10.1% traffic decline, although January showed an improvement with a 9% decline.
The company noted operational improvements, including a Google star rating of 4.28 in Q2 (the highest since Q2 fiscal year 2020) and a 10% improvement in management turnover year-over-year.
For fiscal 2026, Cracker Barrel anticipates total revenue between $3.24 billion and $3.27 billion and Adjusted EBITDA of $85 million to $100 million, with full-year traffic expected to be in the range of -8.5% to -9.5%.
Cost-saving initiatives include annualized G&A savings of $20 million-$25 million from corporate restructuring and a $13 million-$17 million reduction in advertising spend for the second half of the year.

Mar 4, 2026, 10:00 PM

Transcript

Cracker Barrel Reports Q2 2026 Results and Updates Fiscal 2026 Outlook

CBRL

Earnings

Guidance Update

Demand Weakening

For Q2 2026, Cracker Barrel reported total sales of $874.8 million, a 7.9% decrease from the prior year, with adjusted EBITDA at $38.2 million. Comparable store restaurant sales declined 7.1%, driven by a 10.1% traffic decrease, while adjusted diluted EPS was $0.25.
The company noted operational improvements, with its Google star rating reaching 4.28 (the highest since Q2 FY20) and a 10% improvement in management turnover year-over-year. Traffic trends showed improvement in January and February, following declines of 10-11% in November and December.
Cracker Barrel updated its fiscal 2026 outlook, projecting total revenue of $3.24 billion to $3.27 billion and adjusted EBITDA of approximately $85 million-$100 million. Full-year traffic is now expected to be in the range of -8.5% to -9.5%.
Cost-saving initiatives include annualized G&A savings of $20 million to $25 million from corporate restructuring and $13 million to $17 million lower advertising spend in the second half of the year compared to the prior year. The Cracker Barrel Rewards loyalty program has grown to over 11 million members, accounting for over 40% of tracked sales.

Mar 4, 2026, 10:00 PM

Transcript

Cracker Barrel Reports Q2 2026 Results and Updates Fiscal 2026 Outlook

CBRL

Earnings

Guidance Update

Demand Weakening

Cracker Barrel reported Q2 2026 total sales of $874.8 million and adjusted EBITDA of $38.2 million, with adjusted earnings per diluted share of $0.25.
Total revenue decreased 7.9% from the prior year, primarily due to a 7.1% comparable store restaurant sales decrease and a 10.1% traffic decline.
For fiscal 2026, the company anticipates total revenue of $3.24 billion to $3.27 billion and full-year adjusted EBITDA of $85 million-$100 million.
Full-year traffic is expected to be in the range of -8.5% to -9.5%.
Cost-saving measures include annualized G&A savings of $20 million to $25 million from corporate restructuring and a planned $13 million to $17 million lower advertising spend in the second half of the year compared to the prior year.

Mar 4, 2026, 10:00 PM

Transcript

Cracker Barrel Reports Q2 Fiscal 2026 Results and Updates Fiscal 2026 Outlook

CBRL

Earnings

Guidance Update

Dividends

Cracker Barrel Old Country Store, Inc. reported Q2 fiscal 2026 total revenue of $874.8 million, representing a 7.9% decrease compared to the prior year quarter.
For Q2 fiscal 2026, the company's GAAP diluted earnings per share were $0.06, and adjusted diluted earnings per share were $0.25.
GAAP net income for Q2 fiscal 2026 was $1.3 million, and adjusted EBITDA was $38.2 million.
The company updated its fiscal 2026 outlook, projecting total revenue between $3.24 billion and $3.27 billion and adjusted EBITDA between $85 million and $100 million.
The Board of Directors declared a quarterly dividend of $0.25 per share, payable on May 13, 2026.

Mar 4, 2026, 9:17 PM

8-K

Cracker Barrel Reports Q2 Fiscal 2026 Results and Updates Fiscal 2026 Outlook

CBRL

Earnings

Guidance Update

Dividends

Cracker Barrel reported second quarter fiscal 2026 total revenue of $874.8 million, a 7.9% decrease compared to the prior year quarter, with GAAP earnings per diluted share of $0.06 and adjusted earnings per diluted share of $0.25.
The company updated its fiscal 2026 outlook, projecting total revenue of $3.24 billion to $3.27 billion and adjusted EBITDA of $85 million to $100 million.
The Board of Directors declared a quarterly dividend of $0.25 per share payable on May 13, 2026.

Mar 4, 2026, 9:05 PM

Press Release

Cracker Barrel Old Country Store, Inc. Provides Business and Financial Update

CBRL

Earnings

Debt Issuance

New Projects/Investments

Cracker Barrel Old Country Store, Inc. reported $3.48 billion in total revenue for fiscal year 2025.
As of Q1 FY26, which ended October 31, 2025, the company had $550.3 million in total debt and $485 million in available liquidity.
The company switched its credit agreement covenant to a senior leverage ratio on December 15, 2025, with its consolidated senior leverage ratio at 0.3x at the end of Q1 FY26, well below the 3.0x limit.
Management will be meeting with the investment community at the 2026 ICR Conference from January 12-14, 2026, to discuss strategies aimed at returning performance to a positive trajectory, including operational optimization, guest engagement, and cost management.
The Cracker Barrel Rewards program has grown to 10.7 million total members as of Q2TD FY26, and key guest experience metrics showed significant year-over-year improvements in Q2 FY26 QTD.

Jan 12, 2026, 11:01 AM

8-K

Cracker Barrel Reports Q1 2026 Results and Updates Fiscal 2026 Outlook

CBRL

Earnings

Guidance Update

Demand Weakening

For Q1 2026, Cracker Barrel reported a 5.7% decrease in sales compared to the prior year and an Adjusted EBITDA of $7.2 million. GAAP earnings per diluted share were negative $1.10, and adjusted earnings per diluted share were negative $0.74.
The company faced operational challenges with its Back-of-House initiative, leading to a reinstatement of prior processes and extensive retraining of staff, alongside key operational leadership changes.
Cracker Barrel updated its fiscal year 2026 outlook, anticipating total revenue of $3.2-$3.3 billion and full-year Adjusted EBITDA of approximately $70 million-$110 million. The updated traffic guidance for FY2026 is a decline of about negative 8%-negative 10%.
To improve profitability, the company plans annualized G&A savings of approximately $20 million-$25 million from corporate restructuring and a reduction of approximately $12 million-$16 million in advertising spend for Q2 through Q4.
A quarterly dividend of $0.25 per share was declared, payable on February 11, 2026, to shareholders of record on January 16, 2026.

Dec 9, 2025, 10:00 PM

Transcript

Cracker Barrel Reports Q1 2026 Results and Updates Fiscal 2026 Outlook

CBRL

Earnings

Guidance Update

Demand Weakening

Cracker Barrel reported Q1 2026 total revenue of $797.2 million, a 5.7% decrease from the prior year, with Adjusted EBITDA at $7.2 million and adjusted diluted earnings per share of -$0.74.
The company updated its fiscal 2026 outlook, now projecting total revenue between $3.2 billion and $3.3 billion and full-year Adjusted EBITDA of $70 million to $110 million, citing a slower recovery and a challenging macro environment.
To address profitability, Cracker Barrel is undertaking a corporate restructuring, expected to result in $20 million to $25 million in annualized G&A savings, and is reducing planned advertising spend by approximately $12 million to $16 million for Q2-Q4 fiscal 2026.
The company experienced a 7.3% decline in comparable store restaurant traffic in Q1 2026, with quarter-to-date traffic in Q2 2026 declining approximately 11%, and faced operational challenges with its Back-of-House initiative that impacted food consistency.

Dec 9, 2025, 10:00 PM

Transcript

Cracker Barrel Reports Q1 2026 Results and Updates FY2026 Guidance

CBRL

Earnings

Guidance Update

Demand Weakening

Cracker Barrel reported a 5.7% decrease in total revenue to $797.2 million and a significant drop in Adjusted EBITDA to $7.2 million (0.9% of total revenue) for Q1 2026, with comparable store restaurant sales down 4.7% and adjusted diluted EPS at negative $0.74.
The company is implementing several initiatives to improve performance, including reinstating prior back-of-house processes, making operational leadership changes, bringing back popular menu items, and leveraging its loyalty program which now has over 10 million members.
Cost-saving measures include a corporate restructuring in Q1 and a planned further restructuring in Q2, expected to result in annualized G&A savings of $20 million-$25 million, and a reduction in planned advertising spend for Q2-Q4 by $12 million-$16 million.
For fiscal year 2026, Cracker Barrel anticipates total revenue between $3.2 billion and $3.3 billion and Adjusted EBITDA between $70 million and $110 million, with capital expenditures projected at $110 million-$125 million, and declared a quarterly dividend of $0.25 per share.

Dec 9, 2025, 10:00 PM

Transcript

Cracker Barrel Reports Q1 Fiscal 2026 Results and Updates Fiscal 2026 Outlook

CBRL

Earnings

Guidance Update

Demand Weakening

Cracker Barrel Old Country Store, Inc. reported first quarter fiscal 2026 total revenue of $797.2 million, a 5.7% decrease compared to the prior year, with GAAP earnings (loss) per diluted share of ($1.10) and adjusted earnings (loss) per diluted share of ($0.74).
The company experienced a 4.7% decrease in comparable store restaurant sales and an 8.5% decrease in comparable store retail sales over the prior year quarter.
Cracker Barrel updated its fiscal 2026 outlook, revising total revenue guidance to $3.2 billion to $3.3 billion (from a previous outlook of $3.35 billion to $3.45 billion) and adjusted EBITDA guidance to $70 million to $110 million (from a previous outlook of $150 million to $190 million).
The Board of Directors declared a quarterly dividend of $0.25 per share.