Brinker International 4Q Revenue Climbs as Chili's Growth Continues

Dow Jones
Aug 12
 

Brinker International logged higher profit and revenue in its fiscal fourth quarter, fueled by continued momentum across its Chili's brand.

The restaurant chain on Wednesday posted net income of $131.1 million, or $2.99 a share, for its quarter ended June 24, compared with $107 million, or $2.30 a share, a year earlier.

Stripping out one-time items, earnings were $3.07 a share. Analysts polled by FactSet had expected adjusted earnings of $3.09 a share.

Total revenues rose 5% to $1.54 billion, roughly in line with Wall Street estimates.

Comparable-restaurant sales rose 5%, also in line with analyst expectations, driven by 5.6% growth for Chili's. Chief Executive Kevin Hochman said the recent quarter marked five consecutive years of Chili's same-store growth.

"Our strong brand relevance, industry-leading value proposition, streamlined operations, and significant restaurant investments have created a competitive moat that positions Chili's to deliver sustainable, profitable growth," he said.

Looking ahead, Brinker guided for adjusted earnings of $12.60 to $13.40 a share on revenue of $6.15 billion to $6.27 billion in the coming fiscal year. Analysts are looking for adjusted earnings of $12.57 a share on revenue of $6.15 billion.

Shares were up 1.4% at $224.54, in premarket trading.

 
 

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