==Brinker (EAT) reported earnings on Wed 14 Aug 24 (b/o)

 

Brinker misses by $0.13, beats on revs; guides FY25 EPS below consensus, revs above consensus

• Reports Q4 (Jun) earnings of $1.61 per share, excluding non-recurring items, $0.13 worse than the FactSet Consensus of $1.74; revenues rose 12.3% year/year to $1.21 bln vs the $1.17 bln FactSet Consensus. 
• Comparable restaurant sales increased 13.5%, with an increase in comparable restaurant sales of 14.8% for Chili's and 2.5% for Maggiano's. 
• The comparable restaurant sales increase at Chili's was primarily due to increased menu pricing and higher traffic. The launch of the "Big Smasher" burger and the strength of Chili's advertising highlighting value drove traffic during the fourth quarter. 
• Additionally, the Chili's traffic increase of 5.9% includes a negative impact of approximately 2.3% from our strategic decision to de-emphasize virtual brands. Higher Company sales resulted in operating income margin increasing to 6.1% and restaurant operating margin (non-GAAP) increasing to 15.2% for the fourth quarter. Co issues mixed guidance for FY25, sees EPS of $4.35-4.75, excluding non-recurring items, vs. $4.80 FactSet Consensus; sees FY25 revs of $4.55-4.62 bln vs. $4.53 bln FactSet Consensus. 

-=Brinker (EAT) reported earnings on Tue 30 January 2018 (BMO)

Brinker beats by $0.15, reports revs in-line; guides FY18 EPS above consensus 

• Reports Q2 (Dec) earnings of $0.87 per share, excluding non-recurring items, $0.15 better than the Capital IQ Consensus of $0.72; revenues fell 0.6% year/year to $766.4 mln vs the $773.84 mln Capital IQ Consensus.
  • Chili's company-owned comparable restaurant sales decreased 1.5 percent in the second quarter of fiscal 2018 compared to the second quarter of fiscal 2017. Chili's U.S. franchise comparable restaurant sales decreased 1.7 percent in the second quarter of fiscal 2018 compared to the second quarter of fiscal 2017.  Chili's international franchise comparable restaurant sales increased 0.1 percent in the second quarter of fiscal 2018 compared to the second quarter of fiscal 2017.
  • Maggiano's comparable restaurant sales increased 1.8 percent in the second quarter of fiscal 2018 compared to the second quarter of fiscal 2017.
  • Restaurant operating margin, as a percent of company sales, was 14.9 percent for the second quarter of fiscal 2018 compared to 15.1 percent for the second quarter of fiscal 2017 representing a decrease of approximately 20 basis points.
• Co issues upside guidance for FY18, sees EPS of $3.42-3.52, excluding non-recurring items, vs. $3.34 Capital IQ Consensus Estimate.
  • The Company's effective tax rate excluding the impact of special items and the revaluation of the deferred tax accounts is now expected to be approximately 20 to 22 percent.

=Brinker (EAT) reported earnings on Wed 25 Jan 2017 (b/o)

Brinker misses by $0.03, misses on revs; lowers FY17 guidance below consensus :

• Reports Q2 (Dec) earnings of $0.71 per share, $0.03 worse than the Capital IQ Consensus of $0.74; revenues fell 2.2% year/year to $771 mln vs the $787.83 mln Capital IQ Consensus. 
• Comps -3.1%; Chili's co owned -3.3%; Maggiano's -0.8%
• Co issues downside guidance for FY17, sees EPS of $3.05-3.15 vs. $3.37 Capital IQ Consensus Estimate; sees FY17 revs of down 2.0-2.5% to ~$3.18-3.19 bln vs. $3.22 bln Capital IQ Consensus and decrease ~1.0 to 1.5 percent excluding the impact of the 53rd week in fiscal 2016.
  • Comparable restaurant sales are now estimated to be down 1.5 to 2.0 percent. Restaurant operating margin is now estimated to be down ~90 basis points year-over-year on a 52 week basis.
• "While we believe our initiatives are gaining traction and plan to enhance our focus to improve performance, we are reducing our full-year adjusted EPS guidance primarily to reflect lower category sales than originally planned," The company is updating guidance for fiscal 2017 due to changes in our performance expectations and recent reorganization activities. We have reorganized Chili's restaurant operations team and certain positions at the Restaurant Support Center to streamline our staffing to align with our current management strategy. We estimate that this action will result in severance and other separation related charges of ~$6.0 million. These amounts will be recorded in the third quarter of fiscal 2017 in the Other gains and charges caption of our consolidated statements of comprehensive income. We anticipate that this reorganization will result in pre-tax savings of over $5 million in fiscal 2017 and approximately $12 million on an annualized basis. 

=Brinker (EAT) reported earnings on Tue 25 Oct 2016 (b/o)

Brinker misses by $0.06, misses on revs :

• Reports Q1 (Sep) adj. earnings of $0.49 per share, $0.06 worse than the Capital IQ Consensus of $0.55; revenues fell 0.5% year/year to $758.5 mln vs the $775.14 mln Capital IQ Consensus. 
• Chili's company-owned comparable restaurant sales decreased 1.4% Maggiano's comparable restaurant sales decreased 0.6%
• Chili's franchise comparable restaurant sales decreased 0.6%, which includes a 1.6% decrease for U.S. franchise restaurants, partially offset by an increase of 0.9% for international franchise restaurants
• Restaurant operating margin, as a% of company sales, declined ~130 basis points to 13.3% compared to 14.6% for the first quarter of fiscal 2016.
• The company spent $350 million to repurchase shares including the $300 million for the ASR. The company received an initial delivery of ~4.6 million shares of common stock pursuant to the ASR agreement and repurchased ~1.0 million additional shares of common stock in the open market for a total of 5.6 million shares

=Brinker (EAT) reported earnings Thur 11 Aug 2016 (b/o)

Brinker beats by $0.01, reports revs in-line; reaffirms FY17 EPS, comp guidance, guides FY17 revs in-line  :

• Reports Q4 (Jun) earnings of $1.24 per share, $0.01 better than the Capital IQ Consensus of $1.23; revenues rose 15.4% year/year to $881.7 mln vs the $881.19 mln Capital IQ Consensus.
• Co reaffirmed FY16 EPS near low end of $3.55-3.65 range on June 8 ahead of Investor Day.
  • Chili's fourth quarter company-owned comparable restaurant sales decreased 1.8 percent
  • Maggiano's fourth quarter comparable restaurant sales decreased 1.7 percent
  • Chili's franchise fourth quarter comparable restaurant sales decreased 3.4 percent, which includes a 2.1 percent and 5.5 percent decrease for U.S. and international franchise restaurants, respectively
  • Restaurant operating margin, as a percent of company sales, declined ~20 basis points to 18.3 percent compared to 18.5 percent for the fourth quarter of fiscal 2015.

=Brinker (EAT) reported earnings on Tue 19 Apr 2016 (b/o)

Brinker beats by $0.01, misses on revs:

• Reports Q3 (Mar) earnings of $1.00 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.99; revenues rose 5.2% year/year to $824.6 mln vs the $842.92 mln Capital IQ Consensus.
  • Chili's company-owned comparable restaurant sales decreased 4.1 percent.
  • Maggiano's comparable restaurant sales increased 0.2 percent Chili's franchise comparable restaurant sales decreased 1.7 percent which includes a 2.2 percent and 0.7 percent decrease for U.S. and international franchise restaurants, respectively.
  • Restaurant operating margin, as a percent of company sales, declined approximately 150 basis points to 17.4 percent compared to 18.9 percent for the third quarter of fiscal 2015.

=Brinker (EAT) reported 4Q earnings on Wed 20 Jan 2016 (before open)

** charts before earnings **



** charts after earnings **

Brinker beats by $0.03, misses on revs; reaffirms FY16 EPS guidance :

• Reports Q2 (Dec) earnings of $0.78 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.75; revenues rose 6.2% year/year to $788.6 mln vs the $799.3 mln Capital IQ Consensus. 
• Comps fell 1.6%.
  • Chili's company-owned comparable restaurant sales decreased 2.8% Maggiano's comparable restaurant sales decreased 1.8% Chili's franchise comparable restaurant sales increased 0.9% which includes a 2.6% increase for international franchise restaurants, partially offset by a 0.1% decrease for U.S. franchise restaurants
• Restaurant operating margin declined ~30 bps to 16.1%.
• Co reaffirms guidance for FY16, sees EPS of $3.55-3.65, excluding non-recurring items, vs. $3.57 Capital IQ Consensus Estimate.