Brinker International: Reports Q2 Of Fiscal 2024 Results

Dallas / TX. (bi) Brinker International Inc., a recognized leader in casual dining, announced its financial results for the second quarter ended December 27, 2023. The company reported net income per diluted share of USD 0.94, in the second quarter of fiscal 2024, a 51.6 percent increase compared to the second quarter of fiscal 2023. Net income per diluted share, excluding special items (non-GAAP), was USD 0.99 in the second quarter of fiscal 2024, a 30.3 percent increase compared to the second quarter of fiscal 2023.

The results for the second quarter of fiscal 2024 were primarily driven by effective marketing and pricing strategies. Guest traffic improved sequentially in the second quarter despite the headwind created by our decision to de-emphasize virtual brands. Comparable restaurant sales increased 5.2 percent, with an increase in comparable restaurant sales of 5.0 percent for Chili’s and 6.7 percent for Maggiano’s. The increase in Company sales resulted in operating income margin increasing to 5.8 percent and restaurant operating margin (non-GAAP) increasing to 13.1 percent for the second quarter.

«Our second quarter marked another quarter of year over year growth with continued margin improvement, driven by our strategy to simplify operations, improve our food, service, and atmosphere, and deploy an effective marketing plan,» said Kevin Hochman, Chief Executive Officer and President of Brinker International. «We’re pleased with our progress, which has allowed us to improve our traffic trends and now outpace the industry.»

For additional information please read the Company’s PDF file below (133 KB):

20240201-BRINKER-Q22024.

bakenet:eu