CBRL earnings analysis
What we found in CBRL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Cracker Barrel reported Q3 2026 results with total revenue of $797.4M, a decrease of 2.9% year-over-year. The operating margin fell to 0.8% from 1.8%, while diluted EPS was $1.09, significantly higher than the estimated loss of $0.46. Although guest traffic was down, a notable increase in average checks helped mitigate the revenue decline.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Performance
- Total revenue for Q3 2026 was $797.4M, down 2.9% from $821.1M in Q3 2025.
- Improved EPS
- Diluted EPS was reported at $1.09 versus an estimated loss of $0.46.
- Litigation Income Boost
- Net income included a one-time litigation settlement income of $47.4M.
- Cost of Goods Sold Improvement
- COGS as a percentage of revenue decreased to 30.2%, down from 30.1% a year prior.
- Positive cash flow
- Operating cash flow for the first nine months was $92.5M, although down from $116.7M year-on-year.
- Capital Expenditure Decrease
- Capital expenditures decreased to $87.9M in 2026 from $113.2M in the prior year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Revenue
- Total revenue decreased by 5.6% in the first nine months of 2026 compared to the same period in 2025.
- Diminished Guest Traffic
- Comparable restaurant guest traffic decreased by 6.7% in Q3 2026.
- High Inflation Pressures
- Continued inflation volatility and high consumer debt levels pose risks to future sales.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.09
- Gross margin
- 66.2%
- Operating margin
- 0.8%
- Segment
- restaurant: 82.6%
- Segment
- retail: 17.4%
What they said about what is next.
Management anticipates Q4 revenue between $850M and $900M.
The filing reads better than the one before it.
What came before.
- 10-Q · March 4, 2026
- Cracker Barrel reported quarterly revenue of $874.8M (down from $949.4M a year ago), with gross margin at 66.6% and operating income collapsing to $0.5M. Diluted EPS was $0.06 for the quarter and cash and cash…
- 10-Q · December 9, 2025
- Cracker Barrel reported Q1 revenue of $797,188,000 and a net loss of $24,622,000 (basic/diluted EPS -$1.10), driven by an operating loss of $32,797,000. Gross margin remained resilient at 68.8% but operating margin…
- 10-K · September 26, 2025
- Cracker Barrel’s 10-K reiterates a multi-year strategic plan focused on “driving relevancy,” “delivering food and an experience guests love,” and “growing profitability,” and discloses a portfolio of 657 Cracker Barrel…
- 10-Q · March 6, 2025
- Cracker Barrel reported a modest revenue increase to $949,439 in the quarter (up $14,038 vs $935,401 prior-year quarter) with a 1.0 percentage-point improvement in gross margin to ~67.4%. Operating income fell to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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