Brinker International Fiscal Q4 Tops Views

Brinker International shares were higher 4% in pre-market trade after the owner of the Chili’s and Maggiano’s Little Italy restaurant chains reported fiscal Q4 adjusted earnings of $1.09 per share, down from $1.24 in the same period a year ago and topping the estimate of $1.04 from analysts polled by CapIQ. For the quarter ended June 28 total revenues of $810.7 million were down from $881.7 million in the same period a year ago and exceeded the Street projection of $809.9 million. Chili’s company-owned comparable sales decreased 2.2% compared to a year ago. Maggiano’s comparable sales increased 0.5%.

The company guided FY 2018 earnings in the range of $3.25 to $3.35 per share, ahead of the Street projection of $3.24. Revenues are expected to be up approximately 0.5% to 1.5% from $3.15 billion in 2017. The guidance implies a range of $3.17 billion to $3.20 billion, in line with or topping the Street estimate of $3.17 billion.

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