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Sep 29, 2021
Brinker Intl. Q1 2022 Earnings Report
Brinker International's financial performance increased with higher company sales and net income per diluted share, driven by strong brand performance and strategic acquisitions.
Key Takeaways
Brinker International reported increased Company sales and operating income for the first quarter of fiscal year 2022. Company sales rose to $859.6 million, and operating income increased to $25.6 million. Net income per diluted share also increased to $0.28.
Brinker International's Company sales increased to $859.6 million compared to $728.2 million in the first quarter of fiscal 2021.
Chili's Company sales increased to $773.3 million compared to $675.0 million in the first quarter of fiscal 2021.
Maggiano’s Company sales increased to $86.3 million compared to $53.2 million in the first quarter of fiscal 2021.
Net income per diluted share increased to $0.28 as compared to $0.23 in the first quarter of fiscal 2021.
Forward Guidance
The Company reaffirms the fiscal 2022 guidance released on August 18, 2021 and provides the following additional guidance for full year fiscal 2022 as follows:
Positive Outlook
- Total revenues are expected to be approximately $3.75 billion to $3.85 billion.
- Net income per diluted share, excluding special items, is expected to be in the range of $3.50 and $3.80.
Challenges Ahead
- Due to the uncertainties created by the ongoing COVID-19 pandemic and the resulting labor and supply chain disruptions, forecasting business performance is not currently reliable.
- These uncertainties, as well as other risks and uncertainties, could cause actual results to differ materially from those projected.
- We are unable to reliably forecast special items such as restaurant impairments, restaurant closures, reorganization charges and legal settlements without unreasonable effort.
- As such, we do not present a reconciliation of forecasted non-GAAP measures to the corresponding GAAP measures.
- If special items are reported during fiscal 2022, reconciliations to the appropriate GAAP measures will be provided.
Historical Earnings Impact
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