Cracker Barrel (NASDAQ: CBRL) reported Q3 EPS of $1.95, $0.10 better than the analyst estimate of $1.85. Revenue for the quarter came in at $700.04 million versus the consensus estimate of $713.06 million.

• Operating income margin as a percent of total revenue increased 60 basis points over the prior year quarter to 10.2%.
• Earnings per diluted share were $1.95, compared to GAAP earnings per diluted share of $2.04 in the prior year quarter. Adjusted for the impact of the reduction of provisions for uncertain tax positions, earnings per diluted share increased 7.1% from adjusted EPS of $1.82 in the prior year quarter. (See non-GAAP reconciliation below.)
• The Company announced that its Board of Directors increased the quarterly dividend to $1.20 per share on the Company's common stock, which represents a 4.3% increase over the Company's previous quarterly dividend of $1.15.
• The Board of Directors also declared a special dividend of $3.50 per share on the Company\'s common stock.

Commenting on the third quarter, Cracker Barrel President and Chief Executive Officer Sandra B. Cochran said, "We are pleased to report that third quarter earnings per diluted share exceeded our expectations. Our operating income margin continues to grow as a result of commodity market favorability and our ongoing cost reduction initiatives. Our confidence in the strength of the Cracker Barrel brand is reflected in our raised full-year earnings guidance, our increased quarterly dividend, and our declared special dividend."

GUIDANCE:

Cracker Barrel sees FY2017 EPS of $8.25-$8.35, versus the consensus of $8.23.

For earnings history and earnings-related data on Cracker Barrel (CBRL) click here.