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Cracker Barrel beats by $0.12, reports revs in-line; guides Q4 EPS in-line (raises FY15 EPS); reaffirms FY15 rev guidance; increases quarterly dividend 10%; declares $3 special dividend
- Reports Q3 (Apr) earnings of $1.49 per share, $0.12 better than the Capital IQ Consensus of $1.37; revenues rose 6.3% year/year to $683.7 mln vs the $680.04 mln consensus.
- Comparable store restaurant sales increased 5.2%, including a 3.4% increase in average check. Average menu prices for the quarter were approximately 2.5% higher than in the prior year quarter. Comparable store retail sales increased 4.5% for the quarter.
- Co issues in-line guidance for Q4, sees EPS of $1.75-1.85 vs. $1.78 Capital IQ Consensus.
- Co issues guidance for FY15, raises EPS to $6.60-6.70 from $6.40-6.50 vs. $6.55 Capital IQ Consensus; reaffirms FY15 revs of $2.80-2.85 bln vs. $2.84 bln Capital IQ Consensus; projected increases in comparable store restaurant sales of between 4.5% and 5.0%, and comparable store retail sales of between 3.5% and 4.0%.
- Board of Directors increased the quarterly dividend to $1.10 per share on the Company's common stock, which represents a 10% increase over the Company's previous quarterly dividend of $1.00. The Board of Directors also declared a special dividend of $3.00 per share on the Company's common stock. Both the quarterly dividend and the special dividend are payable on August 5, 2015, to shareholders of record on July 17, 2015.