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Brinker Tops Q4 Profit Forecast, Shares Soar

But the restaurant chain company missed on quarterly revenue


Brinker International (NYSE:EAT) announced on Thurday that it earned $47 million during its fiscal fourth quarter, up 12% from $41.9 million in the same period last year.

The owner of Chili’s Grill & Bar and other restaurants said that revenue increased 1.5% to $728.4 million. That fell short of the $734 million in revenue that analysts were looking for, the Wall Street Journal noted.

3 Restaurant and Resort Stocks to Sell Now
3 Restaurant and Resort Stocks to Sell Now

Adjusted EPS for the quarter was 61 cents, which topped the 58 cents Wall Street had predicted.

Investors liked the results. Shares of Brinker jumped more than 7% in Thursday mid-day trading.

The company said same-restaurant sales at Chili’s Grill & Bar rose 2.2%, while same-restaurant sales at Magganio’s Little Italy locations rose 1.9%. Gross operating margin for the company’s restaurants increased from 18.3% last year, to 19.6%.

Brinker is continuing to update its Chili’s restaurants, expanding the menu and improving restaurant appearance.

The company projects earnings for the new fiscal year of between $2.30 and $2.45 a share. Wall Street expects full year earnings of $2.28 a share.

Article printed from InvestorPlace Media,

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