The U.S. stock market is poised to end 2024 on a high, building on a remarkable bull run from early 2023. Despite minor setbacks, the S&P 500 has gained over 22% year to date. In a notable shift, the Federal Reserve recently enacted its first rate cut since 2020, reducing interest rates by 50 basis points, with another potential cut on the horizon. This policy pivot supports Wall Street’s continued upward momentum.While the U.S. economy’s fundamentals remain strong, this month could see added volatility due ...

Revenue and Sales Performance - Total revenues for the thirteen week period ended September 25, 2024 were $1,139.0 million, compared to $1,012.5 million for the same period in 2023, driven by a $128.3 million increase in comparable restaurant sales and $8.4 million from new restaurant openings[83] - Comparable restaurant sales for Company-owned restaurants increased by 13.0%, with Chili's domestic leading at 14.1% and Maggiano's at 4.2%[84] - Franchise revenues increased to $1.2 million in the thirteen week period ended September 25, 2024, primarily due to higher royalties and franchise advertising revenues, with Chili's franchisees generating $225.7 million in sales and Maggiano's franchisees generating $3.2 million[83] - Chili's domestic comparable restaurant sales increased by 13.9%, driven by a 6.8% price impact and a 6.5% traffic impact, while Maggiano's saw a 4.2% increase with a 10.8% price impact but an 8.7% decline in traffic[84] - Chili's total revenues increased by 13.5% to $1,030.4 million, driven by favorable comparable restaurant sales, menu pricing, higher traffic, and favorable menu item mix[99] - Maggiano's total revenues increased by 4.0% to $108.6 million, primarily due to favorable comparable restaurant sales driven by menu pricing and favorable menu item mix[106] Cost Management and Efficiency - Food and beverage costs increased to $284.3 million, representing 25.2% of Company sales, a 0.6% favorable variance compared to the same period in 2023, driven by menu pricing partially offset by higher commodity costs[89][90] - Restaurant labor costs rose to $377.4 million, or 33.5% of Company sales, with a 1.3% favorable variance due to improved labor efficiency[89] - Restaurant labor costs were favorable by 1.3% due to 2.4% sales leverage and 0.1% lower other labor expenses, partially offset by 0.8% higher hourly labor expenses and 0.4% higher manager salaries[91] - Restaurant expenses were favorable by 1.2% due to 2.5% sales leverage and 0.3% lower delivery fees, partially offset by 1.3% higher repairs and maintenance and 0.3% higher other restaurant expenses[91] - Chili's food and beverage costs were favorable by 0.6% due to 1.8% from menu pricing, partially offset by 0.6% unfavorable commodity costs and 0.6% unfavorable menu item mix[100] Restaurant Operations and Expansion - The company operated 1,625 restaurants as of September 25, 2024, including 1,170 Company-owned and 455 franchised locations, with 14 new franchise restaurant openings during the period[71][79] - The company plans to open 29-36 new restaurants in fiscal 2025, including 9-11 Chili's domestic and 19-24 Chili's international locations[81] - Investments in digital technology and off-premise options have enhanced the dine-in experience and expanded To-Go and delivery options, with the Chili's mobile app and delivery partnerships driving convenience[75] - The "3 for Me" value platform, offering a non-alcoholic drink, appetizer, and entrée starting at $10.99, continues to be a key traffic driver in the current economic environment[74] Financial Performance and Cash Flow - Net cash provided by operating activities increased by $3.7 million to $62.8 million, driven by higher operating income, partially offset by increased payments of performance-based compensation and interest[111] - Net cash used in investing activities increased by $10.9 million to $56.5 million, primarily due to higher spend on Chili's capital maintenance and equipment[112] - Net cash used in financing activities increased by $40.5 million to $54.7 million, primarily due to $50.1 million in share repurchase activity, partially offset by $11.0 million in net borrowing activity[112] - The company repurchased 1.1 million shares of common stock for $74.8 million in the thirteen-week period ended September 25, 2024, with $117.0 million remaining under the current share repurchase program[119] Debt and Credit Facility - The company has a $900.0 million revolving credit facility with an interest rate of 6.46% as of September 25, 2024, consisting of SOFR of 4.86% plus an applicable margin and spread adjustment of 1.60%[114] - The company repaid $350.0 million of 5.000% senior notes on October 1, 2024, using available capacity under the existing revolving credit facility[116] - The company expects to remain in compliance with covenants under the $900.0 million revolving credit facility and the terms of the indentures governing its 5.000% and 8.250% notes for the remainder of fiscal 2024[115] - A hypothetical 100 basis point increase in the current interest rate on the $25.0 million outstanding under the revolving credit facility would result in an additional $0.3 million of annual interest expense[124] Liquidity and Capital Expenditures - The company believes its current cash and cash equivalents, along with cash generated from operations and availability under the revolving credit facility, will be adequate to meet capital expenditure and working capital needs for at least the next twelve months[121] - Depreciation and amortization increased by $4.4 million, with additions for new and existing restaurant assets contributing $7.5 million and retirements reducing it by $6.1 million[93] General and Administrative Expenses - General and administrative expenses increased by $9.4 million, driven by $3.2 million in performance-based compensation and $1.9 million in payroll expenses[94] Commodity Price Risk - The company faces commodity price risk due to potential fluctuations in food and other commodity prices, which could negatively affect short-term financial results if cost increases are not passed on to customers[126]

Brinker International, Inc. (NYSE:EAT) Q1 2025 Earnings Conference Call October 30, 2024 9:00 AM ET Company Participants Kim Sanders – Vice President of Investor Relations Kevin Hochman – President and Chief Executive Officer Mika Ware – Chief Financial Officer Conference Call Participants Jeff Farmer – Gordon Haskett Chris O’Cull – Stifel Dennis Geiger – UBS David Palmer – Evercore ISI Brian Vaccaro – Raymond James Jeffrey Bernstein – Barclays Andrew Strelzik – BMO John Ivankoe – JP Morgan Alex Slagle – Je ...

Brinker International, Inc. (EAT) reported first-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased from the prior-year reported figure. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Following the results, the company's shares rose 6.6% in the pre-market trading session. Positive investor sentiments were witnessed as EAT provided a better-than-expected outlook for fiscal 2025. EAT's Q1 Earnings and Reve ...

Brinker International (EAT) reported $1.14 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 12.5%. EPS of $0.95 for the same period compares to $0.28 a year ago.The reported revenue represents a surprise of +4.09% over the Zacks Consensus Estimate of $1.09 billion. With the consensus EPS estimate being $0.69, the EPS surprise was +37.68%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare t ...

Exhibit 99.1 BRINKER INTERNATIONAL REPORTS FIRST QUARTER OF FISCAL 2025 RESULTS AND UPDATES FISCAL 2025 GUIDANCE DALLAS (October 30, 2024) – Brinker International, Inc. (NYSE: EAT) today announced financial results for the first quarter ended September 25, 2024. First Quarter Fiscal 2025 Financial Highlights "Great food, with great service at industry leading value is driving strong Chili's sales and traffic," said President and CEO, Kevin Hochman, "Our continued success proves the importance of listening t ...

DALLAS, Oct. 30, 2024 /PRNewswire/ -- Brinker International, Inc. (NYSE: EAT) today announced financial results for the first quarter ended September 25, 2024. First Quarter Fiscal 2025 Financial Highlights "Great food, with great service at industry leading value is driving strong Chili's sales and traffic," said President and CEO, Kevin Hochman, "Our continued success proves the importance of listening to our guests & team members and delivering on the critical things important to them." Company sales wer ...

Wedbush lifted its price target on Brinker International Inc (NYSE:EAT) to $95 from $68 ahead of the company's fiscal first-quarter earnings report, which is due out before the open on Wednesday, Oct. 30. The shares of the Chili's and Maggiano's Little Italy parent were last seen up 2.1% to trade at $95.72.Today's pop pushed EAT to a record high of $96.28. The stock has been in rally mode amid competitor McDonald's (MCD) E. coli outbreak, with long-time support stemming from its 20-day moving average. So fa ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

In the latest trading session, Brinker International (EAT) closed at $89.30, marking a -1.61% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.02%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.04%. The the stock of operator of restaurant chains Chili's Grill & Bar and Maggiano's Little Italy has risen by 22.52% in the past month, leading the Retail-Wholesale sector's gain of 3.68% and the S&P 500's gain of 3.77%. Market participant ...