Wed, Aug 21, 8:41 PM (146 days ago)
Brinker International, Inc. reported solid financial performance for the fiscal year ended June 26, 2024, with total revenues of $4,415.1 million, a 6.8% increase from $4,133.2 million in fiscal 2023. The company achieved a net income of $155.3 million, up from $102.6 million, reflecting improved operational efficiency. Operating expenses rose to $4,185.5 million, but the operating income increased to $229.6 million, indicating a healthier margin. Earnings per share (EPS) improved to $3.40 (diluted) compared to $2.28 in the previous year. The company focused on enhancing its market position through strategic menu pricing and operational improvements, particularly at its flagship Chili's brand, which saw a 7.4% increase in comparable sales. Looking ahead, Brinker faces risks from inflationary pressures, supply chain disruptions, and competitive labor markets. The company plans to continue investing in technology and operational efficiencies to sustain growth. As of June 26, 2024, Brinker maintained a strong liquidity position with $900 million available under its revolving credit facility, supporting its expansion and share repurchase program.