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May 02, 2025
Cracker Barrel Q3 2025 Earnings Report
Cracker Barrel reported increased revenue and returned to profitability in the third quarter of fiscal 2025.
Key Takeaways
Cracker Barrel posted modest revenue growth and positive net income in Q3 FY25, supported by higher restaurant sales and improved operational performance.
Total revenue reached $821.1 million, up 0.5% YoY.
Net income was $12.6 million, compared to a $9.2 million loss in the same quarter last year.
Adjusted EPS was $0.58, slightly above GAAP EPS of $0.56.
Fourth consecutive quarter of positive comparable restaurant sales growth.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Cracker Barrel maintained its revenue guidance but raised its adjusted EBITDA outlook for fiscal 2025, while slightly lowering inflation expectations.
Positive Outlook
- Adjusted EBITDA outlook raised to $215M–$225M.
- Commodity inflation expected in mid 2% range (lowered from 2%-3%).
- Hourly wage inflation revised downward to mid 2% range.
- Capital expenditures range slightly narrowed and maintained.
- New store growth aligned with outlook: 1 Cracker Barrel and 4 Maple Street Biscuit units opened.
Challenges Ahead
- Retail sales performance remains a drag, with a 3.8% YoY decline.
- No increase in total revenue guidance.
- Margins remain pressured despite better EBITDA.
- Store growth remains limited with minimal expansion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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