Brinker International Q4 Earnings Miss Estimates

Brinker International Inc EAT reported fourth-quarter FY21 sales growth of 79% year-on-year, to $1.009 billion, marginally ahead of the consensus of $1.00 billion. Company sales surged to $990.9 million.
Brinker comparable restaurant sales rose 65.4% Y/Y, Chili's increased 59.8%, and Maggiano's climbed 147.9%.
Operating expenses increased 47.3% Y/Y to $908 million.
The operating margin was 10%, and operating income for the quarter recovered to $100.6 million.
The company held $23.9 million in cash and equivalents as of June 30, 2021.
Net cash provided by operating activities in FY21 totaled $369.7 million with a free cash flow of $275.7 million.
EPS of $1.68 missed the analyst consensus of $1.71.
"We continued to accelerate our competitive advantages and multi-channel sales strategy, resulting in traffic-driven share gains and meaningful outperformance of our pre-pandemic sales and margin results," said CEO Wyman Roberts.
Price action: EAT traded lower by 1.81% at $50.00 in the premarket on the last check Wednesday.

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