Brinker International: Reports Q4 Of Fiscal 2021 Results

Dallas / TX . (bi) Brinker International Inc., a recognized leader in casual dining, announced results for the fourth quarter of fiscal 2021 ended June 30, 2021, and provided a financial update for fiscal 2022. «Brinker’s fourth quarter was a positive finish to a successful fiscal year, with Brinker posting one of its most profitable quarters in recent history,» said Wyman Roberts, Chief Executive Officer and President. «We continued to accelerate our competitive advantages and multi-channel sales strategy, resulting in traffic-driven share gains and meaningful outperformance of our pre-pandemic sales and margin results.»

Fiscal 2021 Highlights – Fourth Quarter and Fiscal Year

  • Brinker International’s Company sales in the fourth quarter of fiscal 2021 increased to USD 990.9 million as compared to USD 553.1 million in the fourth quarter of fiscal 2020. Brinker’s Company sales in fiscal 2021 increased to USD 3,279.0 million as compared to USD 3,004.9 million in fiscal 2020.
  • Chili’s Company sales in the fourth quarter of fiscal 2021 increased to USD 898.7 million as compared to USD 518.9 million in the fourth quarter of fiscal 2020. Chili’s Company sales in fiscal 2021 increased to USD 3,005.7 million as compared to USD 2,673.5 million in fiscal 2020.
  • Operating income in the fourth quarter of fiscal 2021 increased to USD 100.6 million as compared to the Operating loss of USD 53.2 million in the fourth quarter of fiscal 2020. Operating income in fiscal 2021 increased to USD 199.3 million as compared to USD 62.6 million in fiscal 2020.
  • Restaurant operating margin in the fourth quarter of fiscal 2021 increased to 16.9 percent in the fourth quarter of fiscal 2021 as compared to 6.4 percent in the fourth quarter of fiscal 2020. Restaurant operating margin in fiscal 2021 increased to 13.6 percent as compared to 11.1 percent in fiscal 2020.
  • Net income per diluted share, on a GAAP basis, in the fourth quarter of fiscal 2021 increased to USD 1.58 as compared to a Net loss per diluted share, on a GAAP basis, of USD 1.20 in the fourth quarter of fiscal 2020. Net income per diluted share, on a GAAP basis, for fiscal 2021 increased to USD 2.83 as compared to USD 0.63 in fiscal 2020.
  • Net income per diluted share, excluding special items, in the fourth quarter of fiscal 2021 increased to USD 1.68 as compared to a Net loss per diluted share, excluding special items, of USD 0.88 in the fourth quarter of fiscal 2020. Net income per diluted share, excluding special items, for fiscal 2021 increased to USD 3.12 as compared to USD 1.71 in fiscal 2020.
  • In fiscal 2021, the fourth quarter and fiscal year included an additional operating week compared to fiscal 2020, resulting in estimated increases of USD 70 million to Total revenues and USD 0.34 to Net income per diluted share.
  • Net cash provided by operating activities in fiscal 2021 was USD 369.7 million, and capital expenditures totaled USD 94.0 million resulting in free cash flow of USD 275.7 million. Net repayments of USD 301.6 million were made on the revolving credit facility during fiscal 2021 resulting in an outstanding balance of USD 171.3 million as of June 30, 2021.
  • In August 2021, the Company’s Board of Directors reinstated the share repurchase program, allowing for a total available authority of USD 300 million.

For additional information please read the Company’s PDF file below (161 KB):

20210821-BRINKER-Q4-2021
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