Cracker Barrel's $12.47 million operating loss became $31.675 million of net income
Fiscal 2026 10-K: one item in the $47 million range sits above the operating line and another below it, and the two differ by $1,000
aiSwingX™ Editorial · Reviewed
Published
Cracker Barrel Old Country Store, Inc. Form 10-K (fiscal 2026, filed 2026-09-25, accession 0001104659-26-110772): consolidated statements of income, consolidated balance sheets, consolidated statements of cash flows, Note 8 on the sale and leaseback, Note 12 on the litigation settlement, Note 13 on the MSBC divestiture, the segment note, and the Total Revenue, Gain on Sale and Leaseback Transaction, Impairment and Store Closing Costs and Income Tax Benefit discussions in MD&A. The 10-K presents all amounts in thousands; figures here are converted to dollars. Annual figures cross-checked against SEC XBRL Company Facts.
aiSwingX™ analyzes US filings and reports them as news investors can read.
Cracker Barrel (CBRL) reported an operating loss of $12.47 million for fiscal 2026. Net income for the same year was $31.675 million. One item in the $47 million range sits above the operating line and another below it, and income tax was recorded as a benefit. All amounts in the 10-K are presented in thousands.
In plain terms
Cracker Barrel runs restaurants with gift shops attached, mostly along US highways. Last year the business itself lost money, yet the year closed with a profit. Two amounts arrived — a gain from selling twenty-six of its buildings and leasing them back, and money received from an old lawsuit.
What happened
Cracker Barrel Old Country Store (CBRL) operates restaurants with attached gift shops, mostly along US highways. Its fiscal 2026 year ended on July 31, 2026, and the 10-K was filed on September 25, 2026. All amounts in the 10-K are presented in thousands; figures here are converted to dollars.
Two lines from the income statement.
Item
FY2026
Operating result
−$12.470 million
Pre-tax income
+$20.573 million
Income tax
−$11.102 million (benefit)
Net income
+$31.675 million
In a year with an operating loss, $31.675 million of net income remained. A year earlier operating income was $55.029 million and net income $46.379 million. The operating result deteriorated by $67.5 million while net income fell by only $14.704 million.
The operating loss already includes a ●● sale and leaseback gainSubscribers
Below the operating line, ●● of settlement income — ●●apartSubscribers
A third settlement: ●● from poultry and pork suppliersSubscribers
The income tax benefit is in its third consecutive year — a −●● effective rateSubscribers
The company's own reason for a ●● drop in guest traffic — "a new logo"Subscribers
Store count fell by 70 — and MSBC is entirely goneSubscribers
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FAQ
How can there be an operating loss and net income at the same time?
It places the operating result and the bottom-line figure side by side exactly as the income statement reports them. Both appear in this 10-K's consolidated statements of income and are in the free table above.
Does the operating loss already include a one-time gain?
Yes. A sale and leaseback gain sits as its own line above the operating result. The amount and the number of properties involved are in the subscriber section.
What was the litigation settlement income?
The company recorded a settlement in credit card interchange fee litigation, net of legal fees. The timing and the amount are in the subscriber section.
Did the company give a reason for the drop in guest traffic?
The company states the main reason for the decline itself. That sentence is reproduced verbatim in the subscriber section.
Where can I verify this directly?
Open Cracker Barrel Old Country Store, Inc.'s fiscal 2026 Form 10-K (accession 0001104659-26-110772) on SEC EDGAR and read the consolidated statements of income, Note 8 on the sale and leaseback, Note 12 on the litigation settlement, and Note 13 on the MSBC divestiture.
How aiSwingX™ wrote this
We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
An editor reviews before publication; any later change is recorded in the revision history.
Cracker Barrel Old Country Store, Inc. Form 10-K (fiscal 2026, filed 2026-09-25, accession 0001104659-26-110772): consolidated statements of income, consolidated balance sheets, consolidated statements of cash flows, Note 8 on the sale and leaseback, Note 12 on the litigation settlement, Note 13 on the MSBC divestiture, the segment note, and the Total Revenue, Gain on Sale and Leaseback Transaction, Impairment and Store Closing Costs and Income Tax Benefit discussions in MD&A. The 10-K presents all amounts in thousands; figures here are converted to dollars. Annual figures cross-checked against SEC XBRL Company Facts. · SEC EDGAR · This article is not investment advice. Disclaimer
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aiSwingX™ analyzes US filings and reports them as news investors can read.
