Brinker International Second-quarter Revenue Misses, Reaffirms 2016 Guidance
Brinker International Inc. , owner of the Chili's and Maggiano's restaurant chains, said it had net income of $47.7 million, or 80 cents per share, in the second quarter of fiscal 2016, up from $41.3 million, or 64 cents per share, for the same period last year. Adjusted earnings were 78 cents per share versus the FactSet consensus of 75 cents. Second-quarter revenue totaled $788.6 million versus the FactSet consensus of $799 million. Chili's company-owned same-store sales decreased 2.8% while franchised same-store sales increased 0.9%. Maggiano's same-store sales dropped 1.8%. Brinker reaffirmed its fiscal 2016 earnings per share guidance, excluding special items, between $3.55 to $3.65. Brinker shares are up 0.6% in premarket trading, but down 20.6% for the past 12 months. The S&P 500 is down 7% for the same period.
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