Cracker Barrel Reports Third Quarter Fiscal 2025 Results and Updates Outlook

Company increases expectation for fiscal 2025 adjusted EBITDA1 to between $215 million and $225 million

Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today reported its financial results for the third quarter of fiscal 2025 ended May 2, 2025.

Third Quarter Fiscal 2025 Highlights

• Third quarter total revenue was $821.1 million. Compared to the prior year third quarter, total revenue increased 0.5%.
  • Comparable store restaurant sales increased 1.0% over the prior year quarter, and comparable store retail sales decreased 3.8%.
• GAAP earnings per diluted share were $0.56, and adjusted¹ earnings per diluted share were $0.58.
• GAAP net income for the third quarter was $12.6 million compared to the prior year quarter GAAP net income (loss) of ($9.2) million. Adjusted EBITDA¹ was $48.1 million, a 0.4% increase compared to the prior year quarter adjusted EBITDA¹ of $47.9 million.

Commenting on the third quarter results, 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. We remain focused on executing our transformation plan and believe we are well-positioned to deliver a strong finish to the fiscal year."

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