Opening the filing
Exhibit 99.1
YEAR FISCAL 2026 RESULTS AND PROVIDES FISCAL 2027 OUTLOOK
Performance Underscores Continued Improvement in Key Operating & Financial Metrics LEBANON, Tenn. – September 23, 2026 – Cracker Barrel Old Country Store, Inc. (”Cracker Barrel” or the ”Company”) (Nasdaq: CBRL)
today reported its financial results for the fourth quarter of fiscal 2026 ended July 31, 2026.
Cracker Barrel President and Chief Executive Officer David Deno said, ”I’m honored to lead such a differentiated and iconic brand. The Company is focused on the right areas and has a strong plan, as demonstrated by the continued improvements in the underlying traffic trend, key guest metrics, and EBITDA results.
I am excited about the opportunity ahead and confident that our strategic priorities around food, experience, and people will sustain this momentum and drive long-term value creation.”
The financial results presented below reflect consolidated operations, including Maple Street Biscuit Company’s (”MSBC”) results up to the divestiture of MSBC that occurred on July 20, 2026.
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Total revenue was $849.3 million. Compared to the prior year quarter, total revenue decreased 2.2%.
Compared to the prior year quarter, comparable store restaurant sales decreased 2.1%, and comparable store retail sales increased 0.7%.
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As previously disclosed, during the fourth quarter, the Company completed a sale-leaseback transaction, divested MSBC, and announced that David Deno was appointed to serve as Chief Executive Officer, effective August 10, 2026.
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GAAP earnings per diluted share were $0.54, and adjusted 1 earnings per diluted share were $0.99. (See non-GAAP reconciliation table below.)
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GAAP net income was $12.2 million compared to prior year quarter GAAP net income of $6.8 million.
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Adjusted EBITDA 1 was $62.1 million and includes a benefit of approximately $9.1 million related to tariff refunds, net of investments, compared to prior year quarter adjusted EBITDA 1 of $55.7 million. (See non-GAAP reconciliation table below.)
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During the fourth quarter, the Company repaid $150 million of short-term debt related to its 0.625% Convertible Senior Notes when they matured in June 2026.
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During the fourth quarter, the Company completed a sale-leaseback transaction for 26 Company-owned Cracker Barrel store locations, generating net proceeds of approximately $77 million that were deployed towards debt reduction. The tax-efficient transaction enabled the Company to utilize capital loss carryforwards that otherwise would have expired.
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The Company announced that its Board of Directors declared a quarterly dividend of $0.25 per share of the Company’s common stock. The quarterly dividend is payable on November 12, 2026 to shareholders of record as of October 16, 2026.
Fiscal 2027 Outlook
The Company provided the following outlook for fiscal 2027:
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Total revenue of $3.325 billion to $3.4 billion including comparable store restaurant sales growth of 3% to 5% and no new store openings ·
Adjusted EBITDA 1 of $180 million to $200 million 2 ·
Commodity inflation of approximately 3.0% ·