Cracker Barrel Old Country Store (NASDAQ:CBRL) delivered a stronger-than-expected earnings report for its third quarter, but shares fell over 3% intra-day today.

The company posted adjusted earnings per share of $0.58, more than double Wall Street’s estimate of $0.26. Although revenue of $821.1 million came in just shy of the $827.6 million consensus, it still marked a slight year-over-year increase of 0.5%.

Comparable restaurant sales rose 1%, partially offsetting a 3.8% decline in retail sales. The chain’s core food service business helped drive the quarterly performance, with net income swinging to $12.6 million from a $9.2 million loss a year earlier.

Cracker Barrel raised its full-year adjusted EBITDA guidance to $215–$225 million, tightening the range and signaling greater confidence in cost control and operational execution. The company reaffirmed its fiscal 2025 revenue outlook of $3.45 billion to $3.50 billion.