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Cracker Barrel Q3 Earnings Surpass Estimates, Revenues Miss
CBRLCracker Barrel(CBRL) ZACKS·2025-06-06 14:00

Core Insights - Cracker Barrel Old Country Store, Inc. (CBRL) reported third-quarter fiscal 2025 results with earnings exceeding estimates but revenues falling short, indicating mixed performance [1][3][9] Financial Performance - Adjusted earnings per share (EPS) for the third quarter were 58 cents, surpassing the Zacks Consensus Estimate of 17 cents, but reflecting a 34.1% decline year over year [3][9] - Quarterly revenues reached 821.1million,missingtheconsensusmarkof821.1 million, missing the consensus mark of 827 million, but showing a year-over-year increase of 0.5% [3][9] Comparable Store Sales - Comparable-store restaurant sales increased by 1% compared to the same quarter in fiscal 2024, while comparable-store retail sales decreased by 3.8% year over year [4] - Menu pricing increased by 4.9% year over year, although the predicted growth for comparable-store restaurant sales was 1.8% [4] Operating Highlights - Cost of goods sold (excluding depreciation and rent) was 247.3million,up1247.3 million, up 1% year over year, representing 30.1% of total revenues, which is a 10 basis point increase from the previous year [5] - General and administrative expenses totaled 46 million, down 16% year over year, significantly lower than the predicted 53.9million[5]NetIncome−Adjustednetincomeforthefiscalthirdquarterwas53.9 million [5] Net Income - Adjusted net income for the fiscal third quarter was 13.1 million, down from 19.6millionintheprior−yearquarter,butabovethepredictionof19.6 million in the prior-year quarter, but above the prediction of 5 million [6] Balance Sheet - As of May 2, 2025, cash and cash equivalents were 9.8million,downfrom9.8 million, down from 11.9 million a year earlier [7] - Inventory at the end of the fiscal third quarter was 168.9million,adecreaseof3.8168.9 million, a decrease of 3.8% year over year [7] - Long-term debt increased to 489.4 million from 472.2millionayearearlier[7]DividendDeclaration−CBRLdeclaredacashdividendof25centspershare,scheduledforpaymentonAugust13,2025,toshareholdersonrecordasofJuly18[7]2025Guidance−Forfiscal2025,thecompanyexpectsrevenuesbetween472.2 million a year earlier [7] Dividend Declaration - CBRL declared a cash dividend of 25 cents per share, scheduled for payment on August 13, 2025, to shareholders on record as of July 18 [7] 2025 Guidance - For fiscal 2025, the company expects revenues between 3.45 billion and 3.5billion,withadjustedEBITDAanticipatedtobebetween3.5 billion, with adjusted EBITDA anticipated to be between 215 million and 225million,anincreasefrompreviousprojections[10]−Commodityinflationisexpectedtobeinthemid−2225 million, an increase from previous projections [10] - Commodity inflation is expected to be in the mid-2% range, while hourly wage inflation is also anticipated to be in the mid-2% range, down from earlier estimates [10] Capital Expenditures - Capital expenditures are projected to be in the range of 160 million to $170 million [11]