Cracker Barrel Q2 Revenue $874.8M, Adjusted EBITDA $38.2M, Traffic Off 10.1%
Cracker Barrel reported Q2 revenue of $874.8 million and adjusted EBITDA of $38.2 million, while comparable restaurant sales fell 7.1% and traffic declined 10.1%. Management highlighted a 4.28 Google rating (highest since FY2020), loyalty membership surpassing 11 million, and guided fiscal 2026 revenue of $3.24–$3.27 billion with $85–$100 million EBITDA.
1. Q2 Sales and Traffic Performance
For the fiscal second quarter ended January 30, comparable store restaurant sales declined 7.1% and traffic fell 10.1%, with average check rising 3.4% (4.2% pricing offset by negative mix). Monthly traffic declines eased from 10–11% in November and December to 9% in January (including a 50-basis-point weather impact), with further improvement in February.
2. Guest Satisfaction and Operational Execution
Operational changes made in October helped lift the quarterly Google star rating to 4.28—the highest since Q2 FY2020—and drove 4–5% gains in food taste, service and value scores. Management noted a 10% year-over-year improvement in management turnover and said the Cracker Barrel Rewards loyalty program now exceeds 11 million members, accounting for over 40% of tracked sales.
3. Financial Results and Outlook
Cracker Barrel generated $874.8 million in revenue and $38.2 million of adjusted EBITDA (4.4% margin) with adjusted EPS of $0.25. For fiscal 2026, management guided revenue of $3.24–$3.27 billion and adjusted EBITDA of $85–$100 million, expecting $20–$25 million of annualized G&A savings and a ~$46 million net cash benefit in Q3 from litigation settlements.