Cracker Barrel sees FY20 GAAP EPS $8.50-$8.65, consensus $9.50
This includes an expected loss from the company's equity method investment in its unconsolidated subsidiary, Punch Bowl Social, resulting in an unfavorable GAAP earnings per diluted share impact of approximately (80c). This estimate includes expenses related to growth such as pre-opening expenses, the expected impact from unit closure expenses, and updated business performance expectations. This also includes transactional and integration expenses related to the Company's acquisition of Maple Street Biscuit Company, which are expected to result in an unfavorable impact to GAAP earnings per diluted share of approximately (15c). Sees FY20 revenue $3.15B-$3.2B, consensus $3.18B. Sees FY20: Cracker Barrel comparable store restaurant sales growth of approximately 2.0%; Cracker Barrel comparable store retail sales growth of approximately 1.0%; Operating income margin of approximately 9.0% as a percent of total revenue.