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Sep 28, 2022
Brinker Intl. Q1 2023 Earnings Report
Brinker International reported results, showing increased company sales but a decrease in operating income and restaurant operating margin due to commodity price inflation.
Key Takeaways
Brinker International reported a rise in company sales for Q1 2023, reaching $946.1 million compared to $865.6 million in Q1 2022. However, the company experienced an operating loss of $19.8 million, a significant shift from the $25.6 million operating income in the same quarter last year. This downturn was primarily attributed to increased food and beverage costs, especially chicken and beef pricing. Restaurant operating margin also declined to 6.0% from 11.0% year-over-year, impacted by commodity price inflation.
Company sales increased to $946.1 million compared to $865.6 million in the first quarter of fiscal 2022.
Operating loss was $19.8 million, a decrease compared to the operating income of $25.6 million in the first quarter of fiscal 2022, mainly due to increased food and beverage costs.
Restaurant operating margin was 6.0% compared to 11.0% in the first quarter of fiscal 2022, driven by commodity price inflation.
Net loss per diluted share was $0.69, compared to net income per diluted share of $0.28 in the first quarter of fiscal 2022.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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