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Cracker Barrel fiscal Q1 profit climbs 21.1% YOY

Cracker Barrel Old Country Store Inc. said its normalized net income for the fiscal first quarter ended Oct. 30 was $1.60 per share, compared with the S&P Capital IQ consensus estimate of $1.59 per share.

EPS climbed 20.7% year over year from $1.33.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $38.6 million, a gain of 21.1% from $31.9 million in the year-earlier period.

The normalized profit margin increased to 5.5% from 4.7% in the year-earlier period.

Total revenue rose year over year to $702.6 million from $683.4 million, and total operating expenses increased from the prior-year period to $637.3 million from $628.0 million.

Reported net income grew 20.1% from the prior-year period to $40.9 million, or $1.70 per share, from $34.1 million, or $1.42 per share.