Top-News
Mittwoch,
03.05.2023 06:45
von
PR Newswire
| Aufrufe: 214
BRINKER INTERNATIONAL REPORTS THIRD QUARTER OF FISCAL 2023 RESULTS
Mann mit Smartphone und Tablet (Symbolbild).
© metamorworks / iStock / Getty Images Plus / Getty Images
PR Newswire
DALLAS, May 3, 2023
DALLAS, May 3, 2023 /PRNewswire/ -- Brinker International, Inc. (NYSE: EAT) today announced its financial results, for the third quarter ended March 29, 2023.
Third Quarter Fiscal 2023 Financial Highlights
Brinker International reported net income per diluted share of $1.12, in the third quarter of fiscal 2023, a 38% increase compared to the third quarter of fiscal 2022. Net income per diluted share, excluding special items (non-GAAP), was $1.23 in the third quarter of fiscal 2023, a 33.7% increase compared to the third quarter of fiscal 2022. Our results for the third quarter of fiscal 2023 were driven by an increase in company sales as well as improved food, beverage, and labor costs. Chili's comparable restaurant sales were 9.6% and Maggiano's were 21.6% resulting in a 10.8% increase for Brinker. Comparable restaurant sales improved due to menu pricing and favorable item mix. These operational improvements resulted in operating income margin increasing to 5.9% and restaurant operating margin (non-GAAP) increasing to 13.4% for the third quarter. Chili's initiated an updated marketing strategy focused on TV, digital, and social media advertising and continued to improve the guest experience by strengthening investments in restaurant facilities and labor.
"We are pleased to report quarterly operating performance for Brinker International that represents a nice step forward for our strategy, enabling us to make needed investments into the business, translating into an improved guest experience," said Kevin Hochman, Chief Executive Officer and President of Brinker International. "In the quarter, we also reengaged our Guests with a broader Chili's marketing campaign including TV, digital and social media. The campaign was well received by our Guests and is clearly a sales lever we can use to drive future results."
Third Quarter Financial Results
| | Third Quarter | ||||
| | 2023 | | 2022 | | Variance |
| Company sales(1) | $ 1,072.9 | | $ 970.9 | | $ 102.0 |
| Total revenues | $ 1,083.2 | | $ 980.4 | | $ 102.8 |
| | | | | | |
| Operating income | $ 64.2 | | $ 49.4 | | $ 14.8 |
| Operating income as a percentage of Total revenues | 5.9 % | | 5.0 % | | 0.9 % |
| Restaurant operating margin, non-GAAP(1)(2) | $ 143.3 | | $ 127.4 | | $ 15.9 |
| Restaurant operating margin as a percentage of Company sales, non-GAAP(1)(2) | 13.4 % | | 13.1 % | | 0.3 % |
| Net income | $ 50.7 | | $ 36.6 | | $ 14.1 |
| Adjusted EBITDA, non-GAAP(2) | $ 113.0 | | $ 97.7 | | $ 15.3 |
| | | | | | |
| Net income per diluted share | $ 1.12 | | $ 0.81 | | $ 0.31 |
| Net income per diluted share, excluding special items, non-GAAP(2) | $ 1.23 | | $ 0.92 | | $ 0.31 |
Comparable Restaurant Sales(3)
| | Q3:23 vs 22 |
| Brinker | 10.8 % |
| Chili's | 9.6 % |
| Maggiano's | 21.6 % |
| | |
| (1) | Certain reclassifications have been made to prior year revenue amounts to enhance comparability to the fiscal 2023 presentation. See Basis of Presentation section below for more details. |
| (2) | See Non-GAAP Information and Reconciliations section below for more details. |
| (3) | Comparable Restaurant Sales include restaurants that have been in operation for more than 18 full months. Restaurants temporarily closed for 14 days or more are excluded from comparable restaurant sales. Percentage amounts are calculated based on the comparable periods year-over-year. |
Basis of Presentation
Effective for the first quarter of fiscal 2023, we are presenting certain revenue streams within Company sales to better align with the presentation used within the casual dining industry. Our presentation of Franchise revenues will now include only revenues related to the franchise-operated restaurants. Comparative figures in prior years have been adjusted to conform to the current year's presentation. These reclassifications have no effect on Total revenues or Net income previously reported.
Company sales include revenues generated by the operation of Company-owned restaurants including food and beverage sales, net of discounts, gift card breakage, Maggiano's banquet service charge income, delivery, digital entertainment revenues, merchandise income and gift card discount costs from third-party gift card sales.
Franchise revenues include franchise royalties, franchise advertising fees, franchise and development fees and gift card program fees.
Third Quarter of Fiscal 2023 Operating Performance
Segment Performance
The table below presents selected financial information (in millions, except as noted) related to our segments' operational performance for the thirteen week periods ended March 29, 2023 and March 30, 2022:
| | Chili's | | Maggiano's | ||||||||
| | Third Quarter | | Variance | | Third Quarter | | Variance | ||||
| | 2023 | | 2022 | | | 2023 | | 2022 | | ||
| Company sales(1) | $ 953.2 | | $ 870.2 | | $ 83.0 | | $ 119.7 | | $ 100.7 | | $ 19.0 |
| Franchise revenues(1) | 10.2 | | 9.4 | | 0.8 | | 0.1 | | 0.1 | | — |
| Total revenues | $ 963.4 | | $ 879.6 Werbung Mehr Nachrichten zur Brinker International Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News | ||||||||
