BRINKER INTERNATIONAL REPORTS FOURTH QUARTER OF FISCAL 2024 RESULTS AND PROVIDES FISCAL 2025 GUIDANCE

Core Insights - Brinker International, Inc. reported strong financial results for the fourth quarter of fiscal 2024, with company sales reaching $1,196.5 million, a 12.4% increase from $1,064.8 million in the same quarter of fiscal 2023 [2][5]. - Comparable restaurant sales increased by 13.5%, driven by a 14.8% increase for Chili's and a 2.5% increase for Maggiano's [2][6]. - The company achieved an operating income margin of 6.1% and a restaurant operating margin of 15.2% for the fourth quarter [2][5]. Financial Performance - Total revenues for the fourth quarter were $1,208.2 million, up from $1,075.5 million in the previous year, marking a variance of $132.7 million [5]. - Operating income for the quarter was $73.1 million, compared to $59.3 million in the fourth quarter of fiscal 2023, reflecting a $13.8 million increase [5]. - Net income for the fourth quarter was $57.3 million, or $1.24 per diluted share, compared to $54.2 million, or $1.19 per diluted share, in the same quarter last year [3][30]. Comparable Restaurant Sales - For fiscal year 2024, comparable restaurant sales increased by 7.0%, with Chili's showing a 7.4% increase and Maggiano's a 3.5% increase [6][28]. - The increase in comparable restaurant sales for Chili's was attributed to menu pricing, higher traffic, and successful marketing campaigns [11][27]. Fiscal 2025 Guidance - The company expects total revenues for fiscal 2025 to be in the range of $4.55 billion to $4.62 billion [8]. - Net income per diluted share, excluding special items, is projected to be between $4.35 and $4.75 [8]. - Capital expenditures are anticipated to be between $195 million and $215 million [8]. Operational Insights - The company ended fiscal 2024 with no outstanding borrowings on its $900 million revolving credit facility and $64.6 million in cash [3]. - Brinker International continues to invest in its business, increasing staffing and maintenance expenses to enhance customer experience [2][4]. Segment Performance - Chili's company sales for the fourth quarter were $1,072.9 million, up from $943.6 million in the previous year, while Maggiano's sales were $123.6 million, slightly up from $121.2 million [10][11]. - Franchise revenues for Chili's increased to $230.1 million in the fourth quarter of fiscal 2024, compared to $227.0 million in the same quarter of fiscal 2023 [11]. Company Overview - Brinker International operates over 1,600 restaurants globally, including the well-known brands Chili's and Maggiano's [17]. - The company remains focused on delivering profitable and sustainable growth while maintaining high guest satisfaction metrics [4].