By Adriano Marchese
Brinker International sales and profit jumped in its third quarter as stronger advertising and value brought more guests to its Chili's restaurants.
The casual dining restaurant company, which houses the Chilli's and Maggiano's banners, on Tuesday posted net income of $119.1 million, or $2.56 a share for the period ended March 26, compared with $48.7 million, or $1.08 a share, in the same quarter a year ago.
Adjusted earnings, which excludes exceptional costs and one-off items, came to $2.66 a share. According to FactSet, analysts were expecting $2.56 a share.
Revenue in the quarter rose to $1.43 billion from $1.12 billion, topping analyst projections of $1.38 billion.
Comparable restaurant sales increased 28.2%. Chili's saw a significant jump, with comparable sales rising 31.6% thanks to more guests coming to the restaurant, thanks to a company push by advertising that highlights our industry-leading value. For Maggiano's, comparable sales were up 0.4%.
For the full year, the company expects total revenues to come in between $5.33 billion and $5.35 billion. This is ahead of analyst expectations for a rise of $5.25 billion.
Adjusted earnings are forecasted at $8.50 to $8.75 a share, compared to forecasts of $8.51 a share.
Shares fell 7.3% to $149 in premarket trading.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 29, 2025 07:29 ET (11:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.