Brinker Intl Q2 Results Beat Market, Lifts FY25 Outlook; Stock Climbs In Pre-market - Update

Brinker International

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(RTTNews) - Casual dining restaurant owner Brinker International, Inc. (EAT), while reporting higher second-quarter result, above market estimates, on Wednesday raised its fiscal 2025 outlook for adjusted earnings and revenue, both above the Street.

In pre-market activity on the NYSE, Brinker shares were gaining around 6.7 percent to trade at $164.99.

President and CEO Kevin Hochman said, "Improving fundamentals continues to drive a better guest experience and sustained business results. Chili's sales comps accelerated to +31 percent, driven both by new guests trying Chili's and return guests coming more frequently despite a more competitive promotional environment. These results would indicate we are building a much stronger business for the long term."

For fiscal 2025, the company now projects adjusted earnings in the range of $7.50 to $8.00 per share and total revenues in the range of $5.15 billion to $5.25 billion.

The company previously expected adjusted earnings in a range of $5.20 to $5.50 per share on total revenues between $4.70 billion and $4.75 billion.

The Wall Street analysts on average expect the company to report earnings of $6.44 per share on revenues of $4.9 billion. Analysts' estimates typically exclude special items.

For the second quarter, Brinker's profit increased from last year and beat the Street estimates. The company's earnings came in at $118.5 million, or $2.61 per share, compared with $42.1 million, or $0.94 per share, last year.

Adjusted earnings were $127.3 million or $2.80 per share for the period. Analysts had expected the company to earn $1.86 per share.

The company's revenue for the period rose 26.4 percent to $1.358 billion from $1.074 billion last year. The Street was looking for revenues of $1.25 billion for the quarter.

Company sales were $1.346 billion in the second quarter, compared to $1.064 billion a year ago. Comparable restaurant sales increased 27.4 percent, with an increase in comparable restaurant sales of 31.4 percent for Chili's and 1.8 percent for Maggiano's.

Chili's sales growth was driven by a 19.9 percent increase in traffic.

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