Cracker Barrel Old Country Store, Inc. (CBRL) CEO Sandy Cochran on Q2 2019 Results - Earnings Call Transcript

Feb. 26, 2019 4:03 PM ETCracker Barrel Old Country Store, Inc. (CBRL)
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Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Q2 2019 Results Earnings Conference Call February 26, 2019 11:00 AM ET

Company Participants

Adam Hanan - Manager-IR

Sandy Cochran - President and CEO

Jill Golder - SVP and CFO

Don Hoffman - SVP, Marketing

Jeff Wilson - VP and Principal Accounting Officer

Conference Call Participants

Alton Stump - Longbow Research

Jake Bartlett - SunTrust

Bob Derrington - Telsey Advisory

Gregory Francfort - Bank of America

Stephen Anderson - Maxim Group

Jeff Farmer - Gordon Haskett


Good day, and welcome to the Cracker Barrel Fiscal 2019 Second Quarter Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Adam Hanan, Manager-Investor Relations. Please go ahead, sir.

Adam Hanan

Good morning, and welcome to Cracker Barrel's Second Quarter Fiscal 2019 Conference Call and Webcast.

This morning, we issued a press release announcing our second quarter results and our outlook for the 2019 fiscal year. In this press release and on this call, we will refer to non-GAAP financial measures for fiscal 2018, adjusted to exclude the impact of the 53rd week that occurred in our fourth quarter and a one-time non-cash revaluation of the Company's net deferred tax liability that occurred in our second quarter. The Company believes that excluding these tax benefits from its financial results provides information that may be more indicative of the Company's ongoing operating performance, while improving comparability to prior periods. This information is not intended to be considered in isolation or as a substitute for financial information prepared in accordance with GAAP. The last page of the press release includes a reconciliation 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

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