The 10-second takeaway
For the quarter ended March 27 (Q3), Brinker International met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share grew significantly. GAAP earnings per share increased significantly.
Margins increased across the board.
Brinker International logged revenue of $742.8 million. The 16 analysts polled by S&P Capital IQ expected revenue of $742.0 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.72. The 20 earnings estimates compiled by S&P Capital IQ anticipated $0.69 per share. Non-GAAP EPS of $0.72 for Q3 were 20% higher than the prior-year quarter's $0.60 per share. GAAP EPS of $0.71 for Q3 were 27% higher than the prior-year quarter's $0.56 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 19.9%, 120 basis points better than the prior-year quarter. Operating margin was 10.7%, 140 basis points better than the prior-year quarter. Net margin was 7.0%, 90 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $739.8 million. On the bottom line, the average EPS estimate is $0.75.
Next year's average estimate for revenue is $2.86 billion. The average EPS estimate is $2.32.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Brinker International is outperform, with an average price target of $37.11.
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