Chili’s parent company Brinker serves up a tasty Q4 earnings beat
Strong sales and Triple Dipper traffic have helped keep momentum hot.
Brinker shares popped as much as 5.4% in early trading Tuesday before falling back to relatively flat after the Chili’s and Maggiano’s parent posted strong Q4 results and a tasty full-year outlook.
Earnings per share landed at $2.49, edging past analyst expectations of $2.47. Revenue came in at $1.46 billion, also topping forecasts of $1.44 billion. Same-store sales climbed 21.3%, just shy of the 21.9% growth Wall Street expected, but still a hefty jump.
Looking ahead, Brinker guided full-year revenue to between $5.60 billion and $5.70 billion, in line with analyst estimates of $5.63 billion. Adjusted EPS is projected between $9.90 and $10.50, a range that comfortably brackets the Street’s $9.91 forecast.
The chain has been riding a wave of traffic growth thanks to menu tweaks, sharper marketing, and crowd-pleasers like the Triple Dipper. Social media buzz has only amplified the appetite for its comfort food.
“Chili’s sales growth this quarter was driven primarily by continued increases in traffic, supported by menu innovation and advertising that highlights our industry-leading value and encourages guest trial,” the company said.
Brinker shares are up 15% year to date.
