NEW YORK (TheStreet) -- Shares of Cracker Barrel Old Country Store Inc. (CBRL) were gaining, higher by 2.83% to $143.75 in pre-market trading Tuesday after the restaurant chain released its fiscal third-quarter earnings results earlier this morning.
"Simple story, it's been a right one ever since gasoline collapse," Cramer added.
The company earned $1.49 per share on revenue of $683.7 million.
Wall Street expected the restaurant operator to post a profit of $1.37 per share on revenue of $680.05 million for the quarter, according to analysts polled by Thomson Reuters.
In the prior year quarter, the company posted earnings of $1.23 per share on revenue of $643.30 million.
Comparable-store restaurant sales grew by 5.2% and comparable-store retail sales increased 4.5%.
Additionally, the company said it will pay a special dividend of $3 a share, and its new quarterly dividend of $1.10 a share on Aug. 5 to shareholders of record on July 17.
Looking ahead, Cracker Barrel expects full-year earnings in the range of between $6.60 to $6.70 per share, with revenue in the range of between $2.8 billion to $2.85 billion.
For the fourth quarter, the company expects earnings of $1.75 to $1.85 per share. Analysts currently expect fourth quarter earnings of $1.78 per share.
Lebanon, Tenn.-based Cracker Barrel Old Country Store is a restaurant chain engaged in the operation and development of the Cracker Barrel Old Country Store concept.