Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Q1 2023 Earnings Conference Call December 2, 2022 11:00 AM ET
Company Participants
Sandy Cochran - President & CEO
Craig Pommells - SVP & CFO
Jennifer Tate - SVP & Chief Marketing Officer
Conference Call Participants
Todd Brooks - The Benchmark Company
Jake Bartlett - Truist Securities
Jon Tower - Citi Research
Brian Mullan - Deutsche Bank Research
Katherine Griffin - Bank of America Securities
Operator
Good day, and welcome to the Cracker Barrel’s Fiscal 2023 First Quarter Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask question. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to [indiscernible] Vice President of Investor Relations. Please go ahead.
Unidentified Company Representative
Thank you. Good morning, and welcome to Cracker Barrel's first quarter fiscal 2023 conference call and webcast. This morning, we issued a press release announcing our first quarter results. In this press release and on this call, we will refer to non-GAAP financial measures for the first quarter ended October 28, 2022.
The non-GAAP financial measures are adjusted to exclude the non-cash amortization of the asset recognized for the gains on our sale and leaseback transactions, and the related tax impact and expenses related to the proxy contest and settlement in connection with the company's 2022 Annual Meeting of Shareholders.
The company believes that excluding these items from its financial results provide 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 or earnings per share information prepared in accordance with GAAP. The 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; Senior Vice President and CFO, Craig Pommells; and Senior Vice President and CMO, Jen Tate. 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 Jen.
On this call, statements may be made by management of their beliefs and expectations regarding the company's future operating results or 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.