- Cracker Barrel Old Country Store Inc (NASDAQ:CBRL) reported third-quarter FY23 sales growth of 5.4% year-on-year to $832.69 million, missing the analyst consensus of $846 million.
- Comparable store retail sales decreased 4.6%, and comparable store restaurant sales grew 7.4%.
- General and administrative expenses increased 12% Y/Y to $45 million. The operating margin was 2%, and operating income for the quarter fell 45% to $16.8 million.
- Adjusted EBITDA increased 1.2% to $60.3 million.
- Cracker Barrel held $22.5 million in cash and equivalents as of Apr. 28, 2023.
- Adjusted EPS of $1.21 missed the analyst consensus of $1.34.
- The Board of Directors declared a quarterly dividend of $1.30 per share, payable on August 8, 2023, to shareholders of record as of July 21, 2023.
- Outlook: Cracker Barrel expects Q4 revenue growth of 1% – 3%.
- For Q4, CBRL expects GAAP operating income margin rate of 4.1%-5.1%. The company anticipates capital expenditures of $30 million – $135 million.
- CBRL anticipates the near-term environment will remain challenged due to heightened economic uncertainty, lower discretionary spending, and weaker consumer confidence.
- Price Action: CBRL shares are trading lower by 4.25% at $93.17 on the last check Tuesday.
Rekor Systems Anticipates Over 110% Growth In Q2 2023 Revenue, Surpassing Projections As The Company Gears Up For More Growth; Sees Q2 Revenue Over $8M Vs $8.03M Est
Rekor Systems (NASDAQ:REKR), a leading company in the field of advanced technology solutions, announced that it expects to report remarkable growth in its revenue for the second quarter of 2023. With an expected revenue
