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BRINKER INTERNATIONAL REPORTS SECOND QUARTER OF FISCAL 2022 RESULTS
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PR Newswire
DALLAS, Feb. 2, 2022
DALLAS, Feb. 2, 2022 /PRNewswire/ -- Brinker International, Inc. (NYSE: EAT) today announced results for the second quarter of fiscal 2022 ended December 29, 2021.
"I am pleased with Brinker's results and the progression of performance throughout the second quarter," said Wyman Roberts, Chief Executive Officer and President. "Our brands had strong holiday performance, demonstrating the power of the business model when volumes return. We still have growth ahead of us, and the opportunity to leverage scale and move the business forward."
Fiscal 2022 Highlights - Second Quarter
- Brinker International's Company sales in the second quarter of fiscal 2022 increased to $904.5 million as compared to $746.2 million in the second quarter of fiscal 2021.
- Chili's Company sales in the second quarter of fiscal 2022 increased to $791.9 million as compared to $683.0 million in the second quarter of fiscal 2021.
- Maggiano's Company sales in the second quarter of fiscal 2022 increased to $112.6 million as compared to $63.2 million in the second quarter of fiscal 2021.
- Operating income in the second quarter of fiscal 2022 increased to $39.8 million as compared to $22.1 million in the second quarter of fiscal 2021. Operating income, as a percentage of Total revenues, in the second quarter of fiscal 2022 increased to 4.3% as compared to 2.9% in the second quarter of fiscal 2021.
- Restaurant operating margin, as a percentage of Company sales, in the second quarter of fiscal 2022 increased to 11.0% as compared to 10.7% in the second quarter of fiscal 2021.
- Net income per diluted share, on a GAAP basis, in the second quarter of fiscal 2022 increased to $0.60 as compared to $0.26 in the second quarter of fiscal 2021.
- Net income per diluted share, excluding special items, in the second quarter of fiscal 2022 increased to $0.71 as compared to $0.35 in the second quarter of fiscal 2021.
- Net cash provided by operating activities through the second quarter of fiscal 2022 was $107.4 million, and capital expenditures totaled $74.1 million resulting in free cash flow of $33.3 million.
- Adjusted EBITDA in the second quarter of fiscal 2022 increased to $87.8 million as compared to $64.7 million in the second quarter of fiscal 2021.
- The Company completed the acquisition of 37 Chili's restaurants on October 31, 2021 that were previously owned by a franchisee.
- To recognize the hard work of our employees, we closed our Chili's restaurants early on Christmas Eve this year. Also, Christmas Day occurred in the second quarter of fiscal 2022 compared to the third quarter of fiscal 2021. Company sales would have been 2.0% higher without these impacts.
For comparable restaurant sales details and non-GAAP reconciliations, please refer to the Non-GAAP Information and Reconciliations section of this release.
Comparable Restaurant Sales(1)
| | Fiscal 22 vs Fiscal 21 | | Fiscal 22 vs Fiscal 20(2) | ||
| | Q2 | | Q2 | ||
| Brinker | 17.7 | % | | 3.5 | % |
| Chili's | 12.1 | % | | 5.0 | % |
| Maggiano's | 78.1 | % | | (5.6) | % |
| | |
| (1) | Comparable Restaurant Sales include restaurants that have been in operation for more than 18 months except acquired restaurants which are included after 12 months of ownership. Restaurants temporarily closed 14 days or more are excluded from comparable restaurant sales. Percentage amounts are calculated based on the comparable periods year-over-year. |
| | |
| (2) | Represents comparable restaurant sales for the periods presented to the same operating periods prior to the COVID-19 pandemic. |
Financial Metrics
| | | Second Quarter | |||||||||
| | 2022 | | 2021 | | 2020 | ||||||
| Company sales | $ | 904.5 | | | $ | 746.2 | | | $ | 847.5 | |
| Total revenues | $ | 925.8 | | | $ | 760.7 | | | $ | 869.3 | |
| | | | | | | | | | | | |
| Operating income | $ | 39.8 | | | $ | 22.1 | | | $ | 43.5 | |
| Operating income as a percentage of Total revenues | | 4.3 | % | | | 2.9 | % | | | 5.0 | % |
| Restaurant operating margin, non-GAAP(1) | $ | 99.6 | | | $ | 80.2 | | | $ | 107.9 | |
| Restaurant operating margin as a percentage of Company sales, non- | | 11.0 | % | | | 10.7 | % | | | 12.7 | % |
| Adjusted EBITDA, non-GAAP(1) | $ | 87.8 | | | $ | 64.7 | | | $ | 95.1 | |
| | | | | | | | | | | | |
| Net income per diluted share | $ | 0.60 | | | $ | 0.26 | | | $ | 0.73 | |
| Net income per diluted share, excluding special items, non-GAAP(1) | $ | 0.71 | | | $ | 0.35 | | | $ Werbung Mehr Nachrichten zur Brinker International Aktie kostenlos abonnieren
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