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

Dow Jones
08/12
 

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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