Brinker: Updates Fourth Quarter And Fiscal Outlook

Dallas / TX. (bi) Brinker International Inc., a recognized leader in casual dining, updated the company’s fourth quarter and fiscal 2016 outlook and provided select fiscal 2017 guidance.

Fiscal 2016 and Fourth Quarter Outlook:

• The company continues to expect fiscal 2016 earnings per diluted share, excluding special items, to be near the low end of our original guidance range of 3.55 USD to 3.65 USD.
• The company continues to expect fiscal fourth quarter 2016 comparable restaurant sales to improve from fiscal third quarter 2016 results; although remain negative. As of June 02, quarter-to-date Brinker International company-owned comparable restaurant sales decreased 2.0 percent which includes a 2.0 percent and 1.5 percent decrease for Chili’s and Maggiano’s company-owned restaurants, respectively, as of that date. The quarter-to-date Brinker company-owned comparable restaurant sales figure represents an improvement of 160 basis points from the third quarter reported number.

Fiscal 2017 Select Guidance:

• Brinker International comparable restaurant sales growth for fiscal 2017 is expected to be in a range of 0.5 to 2.0 percent.
• The company anticipates fiscal 2017 earnings per diluted share, excluding special items, to be in a range of 3.40 USD to 3.50 USD.
• Fiscal 2017 capital expenditures are expected to be in a range of 110 to 120 million USD.
• Full detailed guidance for fiscal 2017 will be provided with the company’s fourth quarter earnings announcement on August 11, 2016.

«We are encouraged by the quarter-to-date progress of our brands», said Wyman Roberts, chief executive officer and president. Brinker International Inc. is one of the world’s leading casual dining restaurant companies. Founded in 1975 and based in Dallas, Texas, as of March 23, 2016, Brinker owned, operated, or franchised 1’647 restaurants.