Dallas / TX . (bi) Brinker International Inc., a recognized leader in casual dining, announced results for the first quarter of fiscal 2022 ended September 29, 2021, and provided a financial update for fiscal 2022. The Company previously released selected results for the first quarter of fiscal 2022 on October 19, 2021.
Fiscal 2022 Highlights – First Quarter
- Brinker International’s Company sales in the first quarter of fiscal 2022 increased to USD 859.6 million as compared to USD 728.2 million in the first quarter of fiscal 2021.
- Chili’s Company sales in the first quarter of fiscal 2022 increased to USD 773.3 million as compared to USD 675.0 million in the first quarter of fiscal 2021.
- Maggiano’s Company sales in the first quarter of fiscal 2022 increased to USD 86.3 million as compared to USD 53.2 million in the first quarter of fiscal 2021.
- Operating income in the first quarter of fiscal 2022 increased to USD 25.6 million as compared to USD 24.4 million in the first quarter of fiscal 2021. Operating income, as a percentage of Total revenues, in the first quarter of fiscal 2022 decreased to 2.9 percent as compared to 3.3 percent in the first quarter of fiscal 2021.
- Restaurant operating margin, as a percentage of Company sales, in the first quarter of fiscal 2022 decreased to 10.4 percent as compared to 11.6 percent in the first quarter of fiscal 2021.
- Adjusted Ebitda in the first quarter of fiscal 2022 increased to USD 69.4 million as compared to USD 65.6 million in the first quarter of fiscal 2021.
- Net income per diluted share, on a GAAP basis, in the first quarter of fiscal 2022 increased to USD 0.28 as compared to USD 0.23 in the first quarter of fiscal 2021.
- Net income per diluted share, excluding special items, in the first quarter of fiscal 2022 increased to USD 0.34 as compared to USD 0.28 in the first quarter of fiscal 2021.
- Net cash provided by operating activities in the first quarter of fiscal 2022 was USD 40.2 million, and capital expenditures totalled USD 37.3 million resulting in free cash flow of USD 2.9 million.
- The Company completed the acquisition of 23 Chili’s restaurants located in the Mid-Atlantic region on September 2, 2021 and 36 Chili’s restaurants located in the Great Lakes and Mid-Atlantic regions on October 31, 2021 that were previously owned by franchisees.
