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Cracker Barrel fiscal Q3 profit climbs 23.6% YOY

Cracker Barrel Old Country Store Inc. said its normalized net income for the fiscal third quarter ended April 29 was $1.65 per share, compared with the S&P Capital IQ consensus estimate of $1.80 per share.

EPS increased 23.6% year over year from $1.34.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $39.7 million, an increase of 23.6% from $32.2 million in the third quarter ended May 1, 2015.

The normalized profit margin increased to 5.7% from 4.7% in the year-earlier period.

Total revenue increased on an annual basis to $700.1 million from $683.7 million, and total operating expenses came to $633.1 million, compared with $628.2 million in the year-earlier period.

Reported net income grew 38.8% on an annual basis to $49.1 million, or $2.04 per share, from $35.4 million, or $1.47 per share.