Cracker Barrel's third quarter results show positive signs with continued growth in restaurant sales, effective cost management, and successful loyalty program developments. However, challenges remain with declining retail sales, tariff impacts, and increased operating expenses. The company has a strong start to Q4, indicating potential recovery and improvement.

Company Guidance

During the Cracker Barrel Old Country Store, Inc. Fiscal 2025 Third Quarter Conference Call, the company reported total revenue of $821.1 million, a 0.5% increase from the prior year. Restaurant revenue rose by 1.2% to $679.3 million, while retail revenue declined by 2.7% to $141.8 million. Comparable store restaurant sales grew by 1%, while retail sales decreased by 3.8%. Pricing for the quarter was approximately 4.9%, and labor-related expenses decreased by 70 basis points to 37.1% of revenue. The company experienced commodity inflation of around 2.9%, primarily due to higher beef, egg, and pork prices. Adjusted EBITDA slightly increased to $48.1 million, representing 5.9% of total revenue. Moving forward, Cracker Barrel anticipates total revenue for Fiscal 2025 to range between $3.45 billion and $3.5 billion, with an expected full-year adjusted EBITDA between $215 million and $225 million. The company also forecasts commodity and hourly wage inflation in the mid-2% range.

Positive Comparable Store Restaurant Sales

Cracker Barrel reported positive comparable store restaurant sales for the fourth consecutive quarter, indicating a consistent trend of growth.

Adjusted EBITDA Exceeds Expectations

Adjusted EBITDA for the third quarter exceeded expectations, demonstrating effective cost management and operational performance.

Improvement in Employee Metrics

Hourly turnover improved by approximately 14 percentage points, and internal net sentiment scores increased by 2.3% compared to the prior year quarter.

Loyalty Program Achievements

Cracker Barrel achieved its fiscal 2025 target of acquiring 8 million Cracker Barrel Rewards members, with over one-third of tracked sales associated with loyalty members.

Successful Back House Optimization Initiative

Phase one of the back house optimization initiative was implemented, resulting in improved quality, profitability, and positive employee feedback.

Strong Start to Q4

The fourth quarter is off to a strong start, driven by the successful Campfire promotion and an improvement in sales trends.

Cracker Barrel (CBRL) Earnings, Revenues Date & History

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CBRL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 23, 2025	2025 (Q4)	0.72 / -	0.98	―	―	―
Jun 05, 2025	2025 (Q3)	0.21 / 0.58	0.88	-34.09% (-0.30)	―
Mar 06, 2025	2025 (Q2)	1.08 / 1.38	1.37	0.73% (<+0.01)	―
Dec 04, 2024	2025 (Q1)	0.37 / 0.45	0.51	-11.76% (-0.06)	―
Sep 19, 2024	2024 (Q4)	1.10 / 0.98	1.79	-45.25% (-0.81)	―
May 30, 2024	2024 (Q3)	0.66 / 0.88	1.21	-27.27% (-0.33)	―
Feb 27, 2024	2024 (Q2)	1.36 / 1.37	1.48	-7.43% (-0.11)	―
Nov 30, 2023	2024 (Q1)	0.74 / 0.51	0.99	-48.48% (-0.48)	―
Sep 13, 2023	2023 (Q4)	1.61 / 1.79	1.57	14.01% (+0.22)	―
Jun 06, 2023	2023 (Q3)	1.34 / 1.21	1.188	1.85% (+0.02)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CBRL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 05, 2025	$57.77	$53.63	-7.17%
Mar 06, 2025	$40.03	$43.06	+7.57%
Dec 04, 2024	$55.11	$54.14	-1.76%
Sep 19, 2024	$40.90	$40.46	-1.08%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.