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Chili's parent Brinker earnings more than halve in pandemic but beat analyst estimates

Brinker International Inc. (EAT) posted better-than-expected earnings for its fiscal second quarter on Wednesday, despite the continued impact of the coronavirus pandemic on its Chili's and Maggiano's restaurants. Brinker said it had net income of $12.0 million, or 26 cents a share, in the quarter to Dec. 23, less than half the $27.9 million, or 73 cents a share, posted in the year-earlier period. Adjusted per-share earnings came to 35 cents, ahead of the 31 cents FactSet consensus. Revenue fell to $760.7 million from $869.3 million, but also beat the $756.0 million FactSet consensus. The company's revenue was hurt by capacity limitations and personal safety preferences, which were partially offset by off-premise sales. Chili's same-store sales fell 6.3% from a year ago, while Maggiano's same-store sales fell 47%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

01-27-21 0659ET

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