Cracker Barrel Q3 Restaurant Sales Sizzle, Ups Annual EBITDA Outlook

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), on Thursday, reported third-quarter adjusted earnings per share of 58 cents, beating the street view of 32 cents.

Quarterly sales of $821.1 million, up 0.5% year over year (Y/Y), missed the analyst consensus estimate of $824.30 million.

Restaurant sales accounted for 82.7% of the total revenue, whereas retail accounted for 17.3%.

Comparable store restaurant sales increased 1.0% Y/Y, with menu pricing increases of 4.9%. Comparable store retail sales fell 3.8% Y/Y.

Also Read: Restaurant Sector Q1 Volatility From Weather, Inflation — Analyst Lowers Price Targets

Adjusted EBITDA was $48.1 million, a 0.4% Y/Y increase. Adjusted EBITDA margin remained flat Y/Y at 5.9%.

Cracker Barrel President and Chief Executive Officer Julie Masino said "Our third quarter performance exceeded our expectations and represents the fourth consecutive quarter of positive comparable store restaurant sales growth."

As of the third quarter-end, cash and cash equivalent stood at $9.8 million.

Dividend

The company's quarterly dividend of 25 cents per share is payable on August 13 to shareholders of record as of July 18, 2025.

Outlook

Cracker Barrel reaffirmed the fiscal year 2025 total revenue outlook of $3.45 billion – $3.50 billion (estimate: $3.47 billion) and raised the adjusted EBITDA outlook to $215 million-$225 million versus the previous outlook of $210 million to $220 million.

It expects commodity inflation in the mid 2% range, Hourly wage inflation in the mid 2%, and Capital expenditures of $160 million to $170 million (vs. previous outlook of $160 million to $180 million).

Price Action: CBRL shares are trading lower by 3.08% to $55.99 at last check Thursday.

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