Brinker International, Inc., announced results for the fiscal second quarter ended December 26, 2018.
Highlights include the following:
- Earnings per diluted share, on a GAAP basis, in the second quarter of fiscal 2019 increased 53.7% to $0.83 compared to $0.54 in the second quarter of fiscal 2018
- Earnings per diluted share, excluding special items, in the second quarter of fiscal 2019 increased 2.3% to $0.89 compared to $0.87 in the second quarter of fiscal 2018 (see non-GAAP reconciliation below)
- Brinker International’s Company sales in the second quarter of fiscal 2019 increased 2.5% to $761.5 million compared to the second quarter of fiscal 2018. Total revenues in the second quarter of fiscal 2019 increased 3.2% to $790.7 million compared to the second quarter of fiscal 2018
- Chili’s company-owned comparable restaurant sales increased 2.9% in the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018. Chili’s U.S. franchise comparable restaurant sales increased 3.4% in the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018
- Maggiano’s company-owned comparable restaurant sales increased 1.8% in the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018
- Chili’s international franchise comparable restaurant sales decreased 6.5% in the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018
- Operating income, as a percent of Total revenues, was 6.3% in the second quarter of fiscal 2019 compared to 7.1% in the second quarter of fiscal 2018 representing a decrease of approximately 80 basis points
- Restaurant operating margin, as a percent of Company sales, was 12.4% in the second quarter of fiscal 2019 compared to 14.9% in the second quarter of fiscal 2018 (see non-GAAP reconciliation below)
- Cash flows provided by operating activities in the first six months of fiscal 2019 was $56.2 million that included a $67.1 million cash tax payment related to the gain on the sale leaseback transactions, and capital expenditures totaled $78.7 million resulting in negative free cash flow of $(22.5) million (see non-GAAP reconciliation below). Proceeds from sale leaseback transactions of $458.0 million are included in Cash flows provided by investing activities
- The Company’s Board of Directors approved a quarterly dividend of $0.38 per share on the common stock of the Company. The dividend will be payable March 28, 2019 to shareholders of record as of March 8, 2019
“Brinker delivered our fifth consecutive quarter of sequential sales improvement, posting positive sales and industry leading traffic,” said Wyman Roberts, Chief Executive Officer and President. “Our sustained momentum is being driven by several key factors including operational execution, takeout, and value.”
To view full release and financial information, click here.
Brinker International, Inc., announced results for the fiscal second quarter ended December 26, 2018.
Highlights include the following:
- Earnings per diluted share, on a GAAP basis, in the second quarter of fiscal 2019 increased 53.7% to $0.83 compared to $0.54 in the second quarter of fiscal 2018
- Earnings per diluted share, excluding special items, in the second quarter of fiscal 2019 increased 2.3% to $0.89 compared to $0.87 in the second quarter of fiscal 2018 (see non-GAAP reconciliation below)
- Brinker International’s Company sales in the second quarter of fiscal 2019 increased 2.5% to $761.5 million compared to the second quarter of fiscal 2018. Total revenues in the second quarter of fiscal 2019 increased 3.2% to $790.7 million compared to the second quarter of fiscal 2018
- Chili’s company-owned comparable restaurant sales increased 2.9% in the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018. Chili’s U.S. franchise comparable restaurant sales increased 3.4% in the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018
- Maggiano’s company-owned comparable restaurant sales increased 1.8% in the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018
- Chili’s international franchise comparable restaurant sales decreased 6.5% in the second quarter of fiscal 2019 compared to the second quarter of fiscal 2018
- Operating income, as a percent of Total revenues, was 6.3% in the second quarter of fiscal 2019 compared to 7.1% in the second quarter of fiscal 2018 representing a decrease of approximately 80 basis points
- Restaurant operating margin, as a percent of Company sales, was 12.4% in the second quarter of fiscal 2019 compared to 14.9% in the second quarter of fiscal 2018 (see non-GAAP reconciliation below)
- Cash flows provided by operating activities in the first six months of fiscal 2019 was $56.2 million that included a $67.1 million cash tax payment related to the gain on the sale leaseback transactions, and capital expenditures totaled $78.7 million resulting in negative free cash flow of $(22.5) million (see non-GAAP reconciliation below). Proceeds from sale leaseback transactions of $458.0 million are included in Cash flows provided by investing activities
- The Company’s Board of Directors approved a quarterly dividend of $0.38 per share on the common stock of the Company. The dividend will be payable March 28, 2019 to shareholders of record as of March 8, 2019
“Brinker delivered our fifth consecutive quarter of sequential sales improvement, posting positive sales and industry leading traffic,” said Wyman Roberts, Chief Executive Officer and President. “Our sustained momentum is being driven by several key factors including operational execution, takeout, and value.”
To view full release and financial information, click here.
