Why Brinker (EAT) Shares Are Falling Today - Brinker International (NYSE:EAT)

Brinker International Inc EAT reported fourth-quarter FY22 sales growth of 1.2% year-on-year to $1.02 billion, in line with the consensus.
Comparable restaurant sales rose 3.1% for Brinker, 0.3% for Chili's, and 30.1% for Maggiano's.
Operating margin compressed 560 basis points to 4.4%, and operating income for the quarter fell 55.6% to $44.7 million.
The restaurant operating margin for the quarter was 10.3% versus 16.9% last year.
The company held $13.5 million in cash and equivalents as of June 29, 2022.
Net cash provided by operating activities for the twelve months totaled $252.2 million with a free cash flow of $101.9 million.
Adjusted EBITDA of $100.2 million declined 30.5% Y/Y.
Adjusted EPS of $1.15 missed the analyst consensus of $1.16.
Outlook: Brinker expects FY23 revenue of $3.9 billion - $4.00 billion, versus the consensus of $4.00 billion.
It sees FY23 Adjusted EPS of $2.45 - $2.85, against the consensus of $3.65.
Price Action: EAT traded lower by 8.04% at $27.90 in premarket on the last check Wednesday.
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Brinker Shares Fall On Q4 Bottom-Line Miss, Downbeat FY23 Forecast