The FY2027 guidance implies a meaningful operational turnaround with comp sales swinging from -2.1% to +3-5% and adjusted EBITDA growing 22-35%. The debt reduction and sale-leaseback strengthen the balance sheet. Watch the Q1 FY2027 results for early evidence of whether the comp guidance is achievable.
Price Chart
Executive Summary
Cracker Barrel reported Q4 FY2026 results with revenue of $849.3M (-2.2% YoY) and GAAP EPS of $0.54, while adjusted EPS was $0.99. The company provided FY2027 guidance for revenue of $3.325B-$3.4B and adjusted EBITDA of $180M-$200M, implying a significant improvement from FY2026's $147.7M. The quarter included the divestiture of Maple Street Biscuit Company and a sale-leaseback transaction that generated $77M in net proceeds for debt reduction. Total debt was reduced to $337.2M from $484.6M at FY2025 year-end.
Key Financial Metrics
Key Facts
- Q4 FY2026 revenue was $849.3M, down 2.2% YoY from $868.0M
- GAAP diluted EPS was $0.54 vs $0.30 in prior year quarter; adjusted diluted EPS was $0.99 vs $0.74
- Adjusted EBITDA was $62.1M, up from $55.7M in prior year quarter, including $9.1M in tariff refunds
- FY2027 guidance: revenue $3.325B-$3.4B (implying 0.2%-2.5% growth), adjusted EBITDA $180M-$200M (22%-35% growth)
- Comparable store restaurant sales guidance of 3%-5% growth for FY2027 vs -2.1% in Q4 FY2026
- Total debt reduced to $337.2M from $484.6M at FY2025 year-end; consolidated total leverage ratio of 1.7x
- Completed sale-leaseback of 26 stores for $77M net proceeds, deployed toward debt reduction
- Divested Maple Street Biscuit Company (52 locations) during Q4
- Quarterly dividend maintained at $0.25 per share
Financial Impact
FY2027 adjusted EBITDA guidance of $180M-$200M represents 22%-35% growth vs FY2026's $147.7M, driven by expected comparable restaurant sales growth of 3%-5% and no new store openings
Risk Factors
- FY2027 guidance depends on achieving 3-5% comparable restaurant sales growth after four consecutive quarters of declines
- Commodity inflation of ~3% and wage inflation of 2.5-3.0% could pressure margins if revenue growth falls short
- No new store openings planned for FY2027 limits growth levers if traffic improvement stalls
- CEO transition to David Deno (effective August 10, 2026) introduces execution risk during turnaround
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-109812 |
| Document: tm2625926d1_8k.htm | 0001104659-26-109812 |
| Document: 0001104659-26-109812-index-headers.html | 0001104659-26-109812 |
| Document: 0001104659-26-109812-index.html | 0001104659-26-109812 |
| Document: 0001104659-26-109812.txt | 0001104659-26-109812 |
| 8-K Data (Synthetic) | 0001104659-26-109812 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 21d ago | DEFA14A | $56.40 | awaiting T+20 | — | $68.19 (+20.90%) |
Oct 6, 2026 21d ago | DEF 14A | $56.40 | awaiting T+20 | — | $68.19 (−20.90%) |
Sep 23, 2026 4w ago | 8-K | $47.52 $65.75 | ▲ +38.36% | ▲ +37.68% | $68.19 (+43.50%) |
Sep 23, 2026 4w ago | Press Release | $47.52 $65.75 | ▲ +38.36% | ▲ +37.68% | $68.19 (+43.50%) |
Aug 19, 2026 9w ago | Court Ruling | $55.13 $45.06 | ▲ +18.27% | ▲ +18.15% | $68.19 (−23.69%) |
Aug 14, 2026 10w ago | Institutional Cluster | $59.04 $45.15 | ▼ −23.53% | ▼ −21.55% | $68.19 (+15.50%) |
Jul 27, 2026 13w ago | 8-K | $52.43 $58.02 | ▲ +10.66% | ▲ +7.36% | $68.19 (+30.06%) |
Jun 9, 2026 20w ago | 8-K | $44.49 $49.51 | ▲ +11.28% | ▲ +7.66% | $68.19 (+53.27%) |
Jun 1, 2026 21w ago | Court Ruling | $33.88 $54.63 | ▲ +61.25% | ▲ +62.82% | $68.19 (+101.29%) |
Mar 4, 2026 33w ago | 8-K | $30.81 $28.65 | ▲ +7.02% | ▲ +3.23% | $68.19 (−121.33%) |
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