Cracker Barrel FY2026 10-K: Full-Year Loss, MSBC Exit, and FY2027 Cost Guidance
CBRL has more than doubled off its 52-week low of $24.85 on light trading volume (0.3× avg).
Summary
Cracker Barrel's FY2026 10-K shows a 4.7% revenue decline, an operating loss, and heavy one-time charges from exiting MSBC. FY2027 guidance points to continued cost inflation and reduced capital spending.
Key Events · Earnings and Guidance · CBRL
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FY2026 Revenue Declines 4.7%
Total revenue fell to $3.319B from $3.484B, with comparable restaurant sales down 4.2% and guest traffic down 7.6%.
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Operating Loss of $12.5M
Operating income swung from +$55.0M in FY2025 to a $12.5M loss, driven by a $27.0M loss on the MSBC divestiture and $31.2M in impairment and store closing costs.
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One-Time Items Mask Core Weakness
Net income of $31.7M included a $47.4M sale-leaseback gain and a $47.4M litigation settlement, offsetting weak underlying operations.
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FY2027 Cost Guidance
Management expects commodity inflation of ~3.0%, wage inflation of 2.5%-3.0%, and capital expenditures of $110M-$125M, down from $115.3M in FY2026.
Analysis · CBRL · Trade & Services
The 10-K confirms a difficult fiscal 2026: total revenue fell 4.7% to $3.32B, comparable restaurant sales dropped 4.2%, and the company swung to an operating loss of $12.5M after a $27M loss on the MSBC divestiture and $31.2M in impairment and store closing costs. Net income of $31.7M was propped up by one-time items — a $47.4M sale-leaseback gain and a $47.4M litigation settlement. Management guided FY2027 capital spending of $110M-$125M and expects commodity inflation near 3.0% and wage inflation of 2.5%-3.0%, signaling continued margin pressure. The filing also discloses a retention package for SVP Douglas Hisel ($200K cash plus $1M in RSUs) as the company works through its leadership transition under new CEO David Deno.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CBRL was trading at $51.04 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $24.85 to $60.26. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.