Brinker International: Reports Third Quarter 2017 Results

Dallas / TX. (bi) Brinker International Inc., a recognized leader in casual dining, results for the fiscal third quarter ended March 29, 2017. Highlights include the following:

  • On a GAAP basis, earnings per diluted share in the third quarter of fiscal 2017 decreased 14.0 percent to 0.86 USD compared to 1.00 USD for the third quarter of fiscal 2016
  • Earnings per diluted share, excluding special items, in the third quarter of fiscal 2017 decreased 6.0 percent to 0.94 USD compared to 1.00 USD for the third quarter of fiscal 2016
  • Brinker’s total revenues in the third quarter of fiscal 2017 decreased 1.7 percent to 810.6 million USD compared to the third quarter of fiscal 2016 and company sales in the third quarter of fiscal 2017 decreased 1.8 percent to 790.6 million USD compared to the third quarter of fiscal 2016
  • Chili’s company-owned comparable restaurant sales in the third quarter of fiscal 2017 decreased 2.3 percent compared to the third quarter of fiscal 2016 but increased sequentially by 1.0 percent from the second quarter of fiscal 2017. Chili’s U.S. franchise comparable restaurant sales in the third quarter of fiscal 2017 increased 0.3 percent compared to the third quarter of fiscal 2016 and also improved sequentially by 3.3 percent from the second quarter of fiscal 2017
  • Maggiano’s comparable restaurant sales in the third quarter of fiscal 2017 decreased 1.6 percent compared to the third quarter of fiscal 2016
  • Chili’s international franchise comparable restaurant sales in the third quarter of fiscal 2017 decreased 7.1 percent compared to the third quarter of fiscal 2016
  • Operating income, as a percent of total revenues, declined approximately 150 basis points to 9.0 percent in the third quarter of fiscal 2017 compared to 10.5 percent for the third quarter of fiscal 2016
  • Restaurant operating margin, as a percent of company sales, declined approximately 40 basis points to 17.0 percent in the third quarter of fiscal 2017 compared to 17.4 percent for the third quarter of fiscal 2016 but improved sequentially by 190 basis points from the second quarter of fiscal 2017
  • For the first nine months of fiscal 2017, cash flows provided by operating activities were 243.6 million USD and capital expenditures totaled 79.7 million USD. Free cash flow was 163.9 million USD

«Our third quarter earnings performance reflects the operational focus of our restaurant level leadership at both our brands», said Wyman Roberts, chief executive officer and president. «We are also encouraged by our progress with the strategic work designed to better position our brands and capture market share».

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