Despite management's confidence and slightly raised guidance, the substantial decline in core financial metrics suggests ongoing operational challenges. The $46M litigation settlement cash benefit in Q3 may provide temporary liquidity relief, but traders should monitor whether the company can execute on its transformation initiatives to reverse the negative trends.
Price Chart
Executive Summary
Cracker Barrel reported a significant decline in second-quarter fiscal 2026 results, with revenue down 7.9% year-over-year and GAAP EPS falling 94% to $0.06. Despite the weak performance, the company slightly raised its full-year adjusted EBITDA guidance to $85-$100 million while reducing commodity and wage inflation expectations. The stock is trading at $686M market cap.
Key Financial Metrics
Key Facts
- Revenue decreased 7.9% YoY to $874.8 million
- GAAP EPS dropped 94% YoY to $0.06
- Adjusted EBITDA fell 51% YoY to $38.2 million
- Company raised full-year adjusted EBITDA guidance to $85-$100M
- Settlement of litigation to generate $46M net cash benefit in Q3
Financial Impact
Revenue down $74.6 million YoY, adjusted EBITDA down $36.5 million YoY
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Restaurant | $680.4M | -7.1% |
| Retail | $180.4M | -9.2% |
Risk Factors
- Continued decline in comparable store sales (restaurant -7.1%, retail -9.2%)
- High leverage with $531.5M total debt despite low 0.3x senior leverage ratio
- Execution risk on strategic transformation initiatives
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-023472 |
| Document: tm267799d1_8k.htm | 0001104659-26-023472 |
| Document: 0001104659-26-023472-index-headers.html | 0001104659-26-023472 |
| Document: 0001104659-26-023472-index.html | 0001104659-26-023472 |
| Document: 0001104659-26-023472.txt | 0001104659-26-023472 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 19, 2026 6w ago | Court Ruling | $56.07 $43.76 | ▲ +21.95% | ▲ +20.00% | $55.76 (+0.55%) |
Aug 14, 2026 7w ago | Institutional Cluster | $59.04 $45.15 | ▼ −23.53% | ▼ −21.55% | $55.76 (−5.56%) |
Jul 27, 2026 9w ago | 8-K | $52.43 $58.02 | ▲ +10.66% | ▲ +7.36% | $55.76 (+6.35%) |
Jun 9, 2026 16w ago | 8-K | $44.49 $49.51 | ▲ +11.28% | ▲ +7.66% | $55.76 (+25.33%) |
Jun 1, 2026 17w ago | Court Ruling | $35.06 $53.94 | ▲ +53.85% | ▲ +56.16% | $55.76 (+59.04%) |
Mar 4, 2026 30w ago | 8-K | $30.81 $28.65 | ▲ +7.02% | ▲ +3.23% | $55.76 (−80.99%) |
US Market Status
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