Cracker Barrel Q1 2024 Update: Financials and Notes Detailed
Ticker: CBRL · Form: 10-Q · Filed: Dec 4, 2024 · CIK: 1067294
Sentiment: neutral
Topics: 10-Q, financials, debt, retail
TL;DR
Cracker Barrel's Q1 2024 financials are in, showing stock, earnings, and debt details.
AI Summary
Cracker Barrel Old Country Store, Inc. reported its first quarter results for the period ending November 1, 2024. The company's financial statements include details on common stock, retained earnings, and additional paid-in capital as of November 1, 2024, with comparative figures from August 2, 2024, and October 27, 2023. The filing also references convertible senior notes due in 2026 and segment information for retail and restaurant operations.
Why It Matters
This filing provides investors with a snapshot of Cracker Barrel's financial health and capital structure at the start of its fiscal year, influencing investment decisions.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events indicated.
Key Numbers
- 2024-11-01 — Reporting Period End (First quarter of fiscal year 2025)
- 2024-08-03 — Previous Period Start (Start of the reporting period)
- 2023-10-27 — Prior Year Period End (Comparative period in the previous fiscal year)
Key Players & Entities
- CRACKER BARREL OLD COUNTRY STORE, INC (company) — Filer
- 0001558370-24-016001 (other) — Accession Number
- 20241101 (date) — Reporting Period End Date
- 20241204 (date) — Filing Date
- 0001067294 (other) — Central Index Key
- 620812904 (other) — IRS Number
- 0801 (date) — Fiscal Year End
- cbrl:Zero625PercentConvertibleSeniorNotesDue2026Member (financial) — Convertible Senior Notes
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the first quarter ending on November 1, 2024.
What are the key financial statement components mentioned in the filing?
The filing mentions common stock, retained earnings, and additional paid-in capital.
What specific debt instrument is referenced in the filing?
The filing references the 'Zero625PercentConvertibleSeniorNotesDue2026Member'.
What business segments are detailed in the filing?
The filing details segment information for 'Retail' and 'Restaurant' operations.
When was the company formerly known as CBRL GROUP INC?
The company was formerly known as CBRL GROUP INC, with a date of name change on July 30, 1998.
Filing Stats: 4,476 words · 18 min read · ~15 pages · Grade level 15.5 · Accepted 2024-12-04 12:24:04
Key Financial Figures
- $0.01 — ch registered Common Stock (Par Value $0.01) Rights to Purchase Series A Junior Pa
Filing Documents
- cbrl-20241101x10q.htm (10-Q) — 1179KB
- cbrl-20241101xex31d1.htm (EX-31.1) — 15KB
- cbrl-20241101xex31d2.htm (EX-31.2) — 18KB
- cbrl-20241101xex32d1.htm (EX-32.1) — 8KB
- cbrl-20241101xex32d2.htm (EX-32.2) — 9KB
- 0001558370-24-016001.txt ( ) — 4865KB
- cbrl-20241101.xsd (EX-101.SCH) — 38KB
- cbrl-20241101_cal.xml (EX-101.CAL) — 49KB
- cbrl-20241101_def.xml (EX-101.DEF) — 123KB
- cbrl-20241101_lab.xml (EX-101.LAB) — 336KB
- cbrl-20241101_pre.xml (EX-101.PRE) — 235KB
- cbrl-20241101x10q_htm.xml (XML) — 674KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (Unaudited)
ITEM 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Changes in Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16
Quantitative and Qualitative Disclosures About Market Risk
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 27
Controls and Procedures
ITEM 4. Controls and Procedures 28
OTHER INFORMATION
PART II. OTHER INFORMATION
Risk Factors
ITEM 1A. Risk Factors 28
Other Information
ITEM 5. Other Information 28
Exhibits
ITEM 6. Exhibits 29
SIGNATURES
SIGNATURES 30 2 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements (Unaudited)
ITEM 1. Financial Statements (Unaudited) CRACKER BARREL OLD COUNTRY STORE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) November 01, August 02, 2024 2024* ASSETS Current Assets: Cash and cash equivalents $ 11,534 $ 12,035 Accounts receivable 39,898 39,204 Inventories 201,915 180,958 Prepaid expenses and other current assets 57,029 46,017 Total current assets 310,376 278,214 Property and equipment 2,461,132 2,438,851 Less: Accumulated depreciation and amortization 1,494,575 1,479,030 Property and equipment – net 966,557 959,821 Operating lease right-of-use assets, net 846,166 850,835 Intangible assets 24,406 24,425 Other assets 45,491 48,199 Total assets $ 2,192,996 $ 2,161,494 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 159,608 $ 162,288 Accrued employee compensation 44,379 60,385 Other current liabilities 244,126 231,534 Total current liabilities 448,113 454,207 Long-term debt 527,023 476,581 Long-term operating lease liabilities 667,182 675,993 Other long-term obligations 109,978 114,564 Commitments and Contingencies (Note 10) Shareholders' Equity: Preferred stock – 100,000,000 shares of $ 0.01 par value authorized; 300,000 shares designated as Series A Junior Participating Preferred Stock; no shares issued — — Common stock – 400,000,000 shares of $ 0.01 par value authorized; 22,242,228 shares issued and outstanding at November 01, 2024, and 22,203,043 shares issued and outstanding at August 02, 2024 222 222 Additional paid-in capital 13,961 12,575 Retained earnings 426,517 427,352 Total shareholders' equity 440,700 440,149 Total liabilities and shareholders' equity $ 2,192,996 $ 2,161,494 See Notes to unaudited Condensed Consolidated Financial Statements. * This Condensed Consolidated Balanc