Brinker Kicks Off Restaurant Earnings Season With Mixed Results

Brinker International, Inc. EAT reported its second quarter results Wednesday morning.

Brinker earned $0.78 per share on revenue of $788.61 million during the second quarter. Wall Street analysts were expecting the company to earn $0.75 per share on revenue of $798.9 million.

By segment, Chili's Bar & Grill company-owned comparable restaurant sales fell 2.8 percent, Maggiano's Little Italy's comparable sales fell 1.8 percent. On the other hand, Chili's franchise comparable restaurant sales rose 0.9 percent, which includes a 2.6 percent increase for international franchise restaurants.

Restaurant operating margins as a percent of company sales fell approximately 30 basis points to 16.1 percent from a year ago.

Brinker maintained its prior guidance and expects to earn between $3.55 and $3.65 per share during the full fiscal year 2016.

Wall Street analysts are estimating Brinker International to earn $3.57 per share for the full fiscal year.

"Our second quarter earnings reflect solid performance despite top-line challenges," said Wyman Roberts, chief executive officer and president. "We believe our current initiatives will improve sales during the remainder of the fiscal year and help deliver our annual earnings guidance."

DineEquity Inc DIN, the parent company of Applebee's and IHOP, is estimated to report its fourth quarter results on February 24, while Darden Restaurants, Inc. DRI, the parent company of various restaurant chains including Olive Garden and Longhorn Steakhouse, is estimated to report its third quarter results on March 18.

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Posted In: EarningsNewsRestaurantsGeneralBrinker InternationalChili’s Bar & GrillMaggiano’s Little ItalyRestaurant stocksrestaurants
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