Shares of Cracker Barrel (CBRL) - Get Report were rising Tuesday after the Lebanon, Tenn.-based restaurant company reported top- and bottom-line beats while also providing full-year guidance in line with analysts' expectations.
The company reported fiscal third-quarter earnings of $2.09 per share on revenue of $739.6 million. Analysts polled by FactSet were expecting the company to report earnings of $2.07 per share on revenue of $735.3 million.
"I am pleased that we again delivered positive comparable store restaurant sales growth and outperformed the casual dining industry. Our teams continued to make progress on key initiatives, and I am encouraged by our performance, in particular with the early results of our new Signature Fried Chicken initiative," said CEO Sandra B. Cochran.
For the year, the company said it expects to generate profit of between $8.95 and $9.10 per share on revenue of $3.05 billion. Wall Street is modeling for full-year earnings of $9.01 per share on revenue of $3.05 billion.
Shares were climbing 2.14% to $164.50 on Tuesday.
Cracker Barrel's stock has been break even so far this year and has risen just 3.2% over the past 12 months.