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Dec 27, 2023
Brinker Intl. Q2 2024 Earnings Report
Brinker International reported a net income per diluted share of $0.94, a 51.6% increase compared to the second quarter of fiscal 2023.
Key Takeaways
Brinker International's Q2 2024 results were driven by effective marketing and pricing strategies, with comparable restaurant sales increasing by 5.2%. Operating income margin increased to 5.8%, and restaurant operating margin (non-GAAP) increased to 13.1%.
Net income per diluted share increased by 51.6% to $0.94.
Non-GAAP net income per diluted share increased by 30.3% to $0.99.
Comparable restaurant sales increased by 5.2%.
Operating income margin increased to 5.8%.
Brinker Intl.
Brinker Intl.
Brinker Intl. Revenue by Segment
Revenue by Segment
Chili's Revenue
CapyFin.comMaggiano's Revenue
CapyFin.com Forward Guidance
Brinker International updated its full year fiscal 2024 guidance, expecting net income per diluted share, excluding special items, to be in the range of $3.45 - $3.70, and total revenues to be in the range of $4.30 billion - $4.35 billion.
Positive Outlook
- Net income per diluted share, excluding special items, non-GAAP, is expected to be in the range of $3.45 - $3.70.
- Total revenues are expected to be in the range of $4.30 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
- The potential for changes in macroeconomic conditions could cause actual results to differ materially from those projected.
- Disruptions on our business including consumer demand, costs, product mix, our strategic initiatives, our partners’ supply chains, operations, technology and assets, and our financial performance.
- The impact of competition and changes in consumer preferences.
- Reduced consumer discretionary spending and unfavorable publicity.
- Increasing regulation surrounding wage inflation and competitive labor markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income