Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Q4 2023 Results Conference Call September 13, 2023 11:00 AM ET
Company Participants
Kaleb Johannes - VP, IR
Sandy Cochran - President and CEO
Julie Felss Masino - CEO Elect
Craig Pommells - SVP and CFO
Conference Call Participants
Jeff Farmer - Gordon Haskett
Todd Brooks - The Benchmark Company
Katherine Griffin - Bank of America
Jake Bartlett - Truist Securities
Dennis Geiger - UBS
Alton Stump - Loop Capital
Andrew Wolf - CL King
Operator
Good day, and welcome to the Cracker Barrel Fiscal 2023 Fourth Quarter Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Kaleb Johannes. Please go ahead.
Kaleb Johannes
Thank you. Good morning and welcome to Cracker Barrel’s fourth quarter fiscal 2023 conference call and webcast.
This morning, we issued a press release announcing the fourth quarter results. In the press release and on the call, we will refer to non-GAAP financial measures for the fourth quarter ended July 28, 2023 as well as our expectations for the first quarter. The non-GAAP financial measures are adjusted to exclude the expected non-cash amortization of the assets recognized from the gains on the sale and leaseback transaction, certain expenses related to our CEO transition and a corporate restructuring charge.
The Company believes that excluding these items from its financial results provides investors with an enhanced understanding of the Company’s financial performance. This information is not intended to be considered in isolation or as a substitute for net income and earnings per share information prepared in accordance with GAAP. Last pages of the press release include reconciliations from the non-GAAP information to the GAAP financials.
On the call with me this morning are Cracker Barrel’s President and CEO, Sandy Cochran; CEO Elect, Julie Felss Masino; and Senior Vice President and CFO, Craig Pommells. Sandy and Craig will provide a review of the business, financials and outlook. We will then open up the call for questions for Sandy, Craig and Julie.
On this call, statements may be made by management of their beliefs and expectations regarding the Company’s future operating results and expected future events. These are known as forward-looking statements, which involve risks and uncertainties that, in many cases, are beyond management’s control and may cause actual results to differ materially from expectations.