Brinker International (EAT) shares surged 7.60% during intraday trading on Wednesday, reversing earlier premarket losses, as investors cheered the company's stronger-than-expected fiscal 2027 guidance and a newly authorized $750 million share repurchase program.

The casual dining operator reported fiscal fourth-quarter results that showed a 5% increase in comparable restaurant sales, driven by a 5.6% gain at its Chili's brand. While adjusted earnings per share of $3.07 narrowly missed analyst estimates of $3.09, revenue of $1.54 billion slightly exceeded expectations. More importantly, Brinker issued fiscal 2027 guidance that surpassed Wall Street forecasts, projecting adjusted earnings of $12.60 to $13.40 per share—above the consensus estimate of $12.57—and total revenue of $6.15 billion to $6.27 billion.

CEO Kevin Hochman highlighted the brand's strong momentum, citing Chili's industry-leading value proposition, streamlined operations, and significant restaurant investments as key drivers of sustainable growth. The company also announced that its board authorized a total of $750 million under its share repurchase program, further boosting investor confidence and contributing to the stock's sharp intraday rally.