Loading...
•
Sep 27, 2023
Brinker Intl. Q1 2024 Earnings Report
Reported an increase in company sales and favorable food and beverage costs, driving improved financial results.
Key Takeaways
Brinker International reported a strong start to fiscal year 2024, with increased company sales and favorable food and beverage costs driving improved financial results. Net income per diluted share was $0.16, compared to a net loss per diluted share of $0.69 in the same quarter last year. Comparable restaurant sales increased by 5.8%, with Chili's and Maggiano's showing positive growth.
Net income per diluted share was $0.16, a significant improvement from the net loss per diluted share of $0.69 in Q1 2023.
Net income per diluted share, excluding special items (non-GAAP), was $0.28, compared to a net loss per diluted share, excluding special items (non-GAAP), of $0.57 in Q1 2023.
Comparable restaurant sales increased by 5.8%, driven by a 6.1% increase at Chili's and a 2.6% increase at Maggiano's.
Operating income margin increased to 2.4%, and restaurant operating margin (non-GAAP) increased to 10.4%.
Revenue by Segment
Forward Guidance
Brinker International updated its full year fiscal 2024 guidance, expecting net income per diluted share, excluding special items, non-GAAP, to be in the range of $3.35 - $3.65. The company reiterated its guidance for total revenues to be in the range of $4.27 billion - $4.35 billion, weighted average shares to be in the range of 45 million - 46 million, and capital expenditures to be in the range of $175 million - $195 million.
Positive Outlook
- Net income per diluted share, excluding special items, non-GAAP, is expected to be in the range of $3.35 - $3.65.
- Total revenues are expected to be in the range of $4.27 billion - $4.35 billion.
- Weighted average shares are expected to be in the range of 45 million - 46 million.
- Capital expenditures are expected to be in the range of $175 million - $195 million.
Challenges Ahead
- Potential changes in macroeconomic conditions could cause actual results to differ materially from those projected.
- The company is unable to reliably forecast special items without unreasonable effort.
- Risks related to general economic conditions, including inflation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...