(Justin Sullivan/Getty Images)

Brinker shares slide after earnings, but Chili’s is still bringing the heat as Gen Z’s dining-out darling

All hail the Triple Dipper.

4/29/25 8:21AM

Brinker International shares slid about 8% in premarket trading Monday, even as the parent of Chili’s and Maggiano’s Little Italy served up top- and bottom-line results that exceeded estimates and boosted its sales guidance.

The slump in the stock may signal overinflated expectations for a company that had been performing very well year to date, up 21% heading into today’s session versus a 6% decline in the S&P 500.

The fast-casual giant posted Q3 earnings of $2.66 per share, beating analyst estimates of $2.56, while revenue rose 27% year over year to $1.425 billion, also ahead of Wall Street’s target. Chili’s, Brinker’s undisputed MVP, drove most of the gains: comparable sales at the chain soared 28%, and franchisees pulled in $237.4 million, up from $216.2 million a year ago.

Brinker also sweetened its full-year outlook, raising revenue guidance to between $5.33 billion and $5.35 billion — a jump from the $5.15 billion to $5.25 billion range it offered back in January.

“Chili’s sales growth this quarter was driven primarily by continued increases in traffic, supported by advertising that highlights our industry-leading value and encourages guest trial,” the company said in a statement.

The continued strength in Chili’s is thanks in no small part to a social media sensation: the Triple Dipper.

TikTok made me do it

Chili’s has long been a staple of the American dining scene, first opening in Dallas in 1975 with a Southwestern-style menu aimed at bridging casual food and a bar-forward atmosphere. But most recently, the chain’s Triple Dipper — a choose-three combo of appetizers like Southwestern egg rolls, chicken crispers, sliders, and mozzarella sticks — has put the 50-year-old brand back on the map, becoming a near-instant viral hit.

According to trend analytics firm Spate, online interest in the Triple Dipper has surged by 118.5% over the past year, with TikTok engagement spiking 375.5%. Google searches, meanwhile, climbed nearly 30%. Much of that momentum can be traced back to content creators like Celine Chung, a California-based food and lifestyle influencer who saw her first Triple Dipper video explode with over 6.6 million views (and counting).

“I did the whole flash shot of the Triple Dipper spread — it just looked so visually appealing,” Chung told Sherwood News. “It started picking up fast. I checked back like 30 minutes later and it already had hundreds of thousands of views.”

Chung, who began creating food content in 2018 and pivoted to TikTok during the pandemic, says Chili’s content has proven unusually sticky. “In my first Chili’s one, I did like the whole flash with the spread of the Triple Dipper, and it just was so visually appealing. I think maybe I added a cheese pull in the beginning, too. I found that it really gravitates with an audience.”

A Kitchen Revamped

Brinker is betting big on that kind of heat. In the previous quarter, Chili’s began streamlining kitchen operations by removing its wing station, making room for high-performing items like the Triple Dipper and chicken crispers. It’s been paying off: the Triple Dipper accounted for 14% of total restaurant sales in Q2. Executives say the menu revamp is not only attracting a younger demographic, but also increasing average check sizes and driving repeat visits.

Even as restaurant spending grew 2% in 2024 — marking a fourth straight year of gains — Brinker has left the broader category in the dust. The company has tacked on more than $4 billion in market cap over the past year. Even with the Tuesday sell-off, Brinker’s stock has blown past rivals like Dine Brands (Applebee’s, IHOP), Cheesecake Factory, and Bloomin' Brands (Outback Steakhouse, Carrabba’s), and is up more than 203% over the past year.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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Rocket Lab deal lifts space stocks

Shares of Rocket Lab are surging after announcing an $8 billion acquisition of satellite communications operator Iridium Communications, helping lift a broader basket of space-related stocks as investors piled back into the sector.

Planet Labs, AST SpaceMobile and Redwire all traded higher alongside Rocket Lab, extending gains in an industry that has drawn enhanced investor attention in recent months in light of the strategic importance that governments place on space and satellite communications infrastructure.

In a presentation, Rocket Lab’s management called the purchase “a shortcut” for its satellite communications business.

Under the terms of the agreement, Iridium shareholders will receive $27 in cash and Rocket Lab stock, valuing Iridium at $54 per share. Backed by a $3.6 billion bridge loan committed by Deutsche Bank and Wells Fargo, Rocket Lab absorbs Iridium’s globally licensed spectrum and an active base of 2.5 million subscribers.

Rocket Lab has also remained one of the most active launch providers in the sector. The company completed its 12th launch of the year last week, maintaining one of the highest launch cadences among commercial space companies.

Today's rally helps offset a brutal stretch for the group. Rocket Lab shares had fallen over 35% over the prior month, while Planet Labs stock was down more than 40% and AST SpaceMobile stock was down around 30% over the same window.

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Comcast shares rise on news of NBCUniversal spinoff deal

Comcast rose on the news that the telecom behemoth is spinning off NBCUniversal and Sky from its cable portfolio.

Comcast initially jumped up to 17% in early trading, with the deal leaving management to focus on its core verticals of cable, wireless, and business services.

NBCUniversal and Sky will form a new publicly traded company, similar to Versant Media, the holding company of CNBC and MS NOW that Comcast officially spun off in January. Bravo, one of the most lucrative properties that remained at Comcast, will remain part of NBCUniversal in the deal. The Universal theme parks and studios will also come with the new spinoff entity, along with Telemundo and Peacock.

Mike Cavanagh, the co-CEO of Comcast, will become the CEO for NBCUniversal, according to CNBC.

The spinoff will be completed in about a year, according to a Comcast company statement. Its shareholders will also own shares in NBCUniversal, according to the same statement.