Chili's Grill & Bar Parent Brinker's Q1 Comps Improve, Thanks To Higher Menu Pricing & Favorable Item Mix
Portfolio Pulse from Lekha Gupta
Brinker International Inc (EAT) reported Q1 FY24 revenues of $1.012 billion, slightly above the consensus of $1.010 billion. Comparable sales increased by 5.8% Y/Y due to higher menu pricing and favorable item mix. The company also reported an operating margin of 2.4% and adjusted EBITDA of $72.4 million. EAT reaffirmed its FY24 sales outlook of $4.27 billion-$4.35 billion and raised its adjusted EPS to $3.35-$3.65.
November 01, 2023 | 3:42 pm
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Brinker International's Q1 FY24 results beat expectations, with higher comparable sales and revenues. The company also raised its adjusted EPS outlook, which could positively impact the stock.
Brinker International reported better than expected Q1 FY24 results, with higher comparable sales and revenues. The company also raised its adjusted EPS outlook. These factors are likely to be viewed positively by investors, potentially leading to an increase in the stock price.
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