Brinker International Q4 Results Meet Estimates; Guides FY23 Adj. EPS Below View

(RTTNews) - Casual dining restaurant owner Brinker International, Inc. (EAT) reported Wednesday that net income for the fourth quarter declined to $40.2 million or $0.90 per share from $75.0 million or $1.58 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $1.15 per share, compared to $1.68 per share in the year-ago quarter.

Total revenues for the quarter edged up $1.02 billion from $1.01 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share on revenues of $1.02 billion for the quarter. Analysts' estimates typically exclude special items.

Comparable restaurant sales increased 3.1 percent over the fourth quarter of last year.

Looking ahead to fiscal 2023, the company now projects adjusted earnings in a range of $2.45 to $2.85 per share on revenues between $3.9 billion and $4.0 billion. The Street is looking for earnings of $3.10 per share on revenues of $3.80 billion for the quarter.

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