NewsFeeder
Headline News
Chili's-parent Brinker matches profit expectations, but revenue and sales come up shy
Chili's restaurant-parent Brinker International Inc. reported Wednesday a fiscal first-quarter profit that matched expectations, although revenue came up shy and same-restaurant sales missed. The stock was still inactive in premarket trading. Net income for the quarter to Sept. 25 fell to $14.9 million,or 39 cents a share, from $26.4 million, or 64 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS declined to 41 cents from 47 cents, compared with the FactSet consensus of 41 cents. Total revenue rose 4.3% to $786.0 million, but was below the FactSet consensus of $798.6 million. Operating margin decreased as cost of sales increased, due primarily to unfavorable commodity pricing related to produce and menu item mix, which was partially offset by higher menu pricing. System-wide same-restaurant sales increased 1.6%, missing the FactSet consensus of 1.8% growth. Company-owned Chili's same-restaurant sales rose 2.9%, beating expectations of 2.0% growth, while Maggiano's same-restaurant sales fell 1.8% versus expectations of a 0.7% increase. The stock has gained 11.4% over the past three months while the S&P 500 has edged up 0.8%.
https://finance.yahoo.com/m/f0044a0...e06/chili's-parent-brinker.html?.tsrc=rss
Chili's restaurant-parent Brinker International Inc. reported Wednesday a fiscal first-quarter profit that matched expectations, although revenue came up shy and same-restaurant sales missed. The stock was still inactive in premarket trading. Net income for the quarter to Sept. 25 fell to $14.9 million,or 39 cents a share, from $26.4 million, or 64 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS declined to 41 cents from 47 cents, compared with the FactSet consensus of 41 cents. Total revenue rose 4.3% to $786.0 million, but was below the FactSet consensus of $798.6 million. Operating margin decreased as cost of sales increased, due primarily to unfavorable commodity pricing related to produce and menu item mix, which was partially offset by higher menu pricing. System-wide same-restaurant sales increased 1.6%, missing the FactSet consensus of 1.8% growth. Company-owned Chili's same-restaurant sales rose 2.9%, beating expectations of 2.0% growth, while Maggiano's same-restaurant sales fell 1.8% versus expectations of a 0.7% increase. The stock has gained 11.4% over the past three months while the S&P 500 has edged up 0.8%.
https://finance.yahoo.com/m/f0044a0...e06/chili's-parent-brinker.html?.tsrc=rss
