Cracker Barrel — Nov 14, 2024 release

We are building momentum across our operations, and while we have more work to do, we are encouraged and energized by the early favorable results of our strategic initiatives. We are highly confident that we are on the right path to drive growth and deliver meaningful value creation for our shareholders.”       Fiscal 2025 Outlook   The Company reaffirmed the outlook provided in its September 19, 2024 press release. The Company continues to expect the following for fiscal 2025:   · Total revenue of $3.4 billion to $3.5 billion   · Two new Cracker Barrel stores and 3 to 4 new Maple Street Biscuit Company units   · Commodity inflation of 2% to 3% compared to the prior year   · Hourly wage inflation of 3% to 4% compared to the prior year   · Adjusted EBITDA 1 of $200 million to $215 million 2   · Capital expenditures of $160 million to $180 million   The Company reminds investors that its outlook reflects a number of assumptions, many of which are outside the Company’s control. In particular, uncertainties created by macroeconomic conditions, such as ongoing inflation, low consumer confidence and high interest rates may adversely affect consumer behavior and cause actual results to differ materially from those expected.   1 Adjusted net income, adjusted EBITDA and adjusted earnings per diluted share are non-GAAP financial measures. For definitions of these non-GAAP measures and reconciliations of these non-GAAP measures to the most directly comparable GAAP measures, please refer to the Reconciliation of GAAP-Basis Operating Results to Non-GAAP Operating Results section of this release.   2 The Company has determined to provide guidance focused on adjusted EBITDA because the Company believes it will