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 $821.1 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 $247.3 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 $53.9 million [5] Net Income - Adjusted net income for the fiscal third quarter was $13.1 million, down from $19.6 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 $9.8 million, down from $11.9 million a year earlier [7] - Inventory at the end of the fiscal third quarter was $168.9 million, a decrease of 3.8% year over year [7] - Long-term debt increased to $489.4 million from $472.2 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 $3.5 billion, with adjusted EBITDA anticipated to be between $215 million and $225 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]