NYSE$EAT

Brinker Intl. · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Brinker International reported a decrease in company sales and operating income, impacted by inflationary headwinds and the absence of an additional operating week compared to the previous year.

Brinker International reported Q4 fiscal year 2022 results, with company sales slightly decreasing to $987.4 million compared to $990.9 million in Q4 2021. Operating income significantly decreased to $44.7 million from $100.6 million year-over-year, primarily due to higher commodity and labor costs. Net income per diluted share was $0.90, down from $1.58 in the same period last year.

  • Company sales were $987.4 million compared to $990.9 million in the fourth quarter of fiscal 2021.
  • Operating income was $44.7 million versus $100.6 million in the fourth quarter of fiscal 2021.
  • Net income per diluted share was $0.90 compared to $1.58 in the fourth quarter of fiscal 2021.
  • Adjusted EBITDA was $100.2 million compared to $144.3 million in the fourth quarter of fiscal 2021.

Headline financials

Total Revenue

$1.02B

Previous: $1.01B+1.3%
EPS (adj)

$1.15

Previous: $1.68-31.5%
Restaurant operating margin

$10.30

Previous: $16.90-39.1%
Capital Expenditures

$41.3M

Previous: $31.6M+30.7%
Free Cash Flow

-$700K

Previous: $69.5M-101.0%
Net Income

$40.2M

Previous: $75M-46.4%
Operating Income

$44.7M

Previous: $101M-55.6%
Gross Profit

$94.2M

Previous: $185M-49.1%
Cash & Equivalents

$13.5M

Previous: $23.9M-43.5%
Total Assets

$2.48B

Previous: $2.27B+9.2%
Stock-Based Comp

$3.4M

Previous: $5.1M-33.3%

Revenue & EPS history

Brinker Intl. · Revenue · Quarterly

$1.02B

Q4 2022+1.3%vs Q4 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Brinker Intl. · $987M total across 2 segments · Q4 2022

  • Chili's
    $877M-4.1%
  • Maggiano's
    $111M+16.8%

Forward guidance

Brinker International anticipates for fiscal year 2023 with uncertainties created by current macroeconomic conditions.

Tailwinds

  • Total revenues are expected to be in the range of $3.9 - $4.0 billion.
  • Net income per diluted share, excluding special items, is expected to be in the range of $2.45 - $2.85.
  • Capital expenditures are expected to be in the range of $155 - $165 million.
  • Weighted average shares are expected to be in the range of 44 - 45 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-0.1%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+4.3%

Avg return

30 days after

37%

25 / 67 earnings

Positive

+21.6%

Q3 2020

Best reaction

-14.8%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026+0.9%+8.5%+9.5%
Q2 2026-0.5%+3.1%-5.8%
Q1 2026-7.3%-15.5%+23.8%
Q3 2025-14.8%-17.2%+4.9%
Q2 2025+16.3%+22.3%+6.6%
Q1 2025+5.9%+11.3%+36.3%
Q4 2024-4.7%-3.3%-0.0%
Q3 2024+10.7%+10.7%+40.6%
Q2 2024+13.1%+8.5%+13.6%
Q1 2024-0.2%+3.2%+10.7%
Q4 2023-8.6%-7.5%-13.6%
Q3 2023-3.2%-8.2%-0.9%
Q2 2023+2.6%+2.3%-2.0%
Q1 2023-9.3%-10.9%-1.0%
Q4 2022-5.7%-14.3%-15.9%
Q3 2022-12.3%-20.6%-24.2%
Q2 2022+7.2%+12.2%+6.0%
Q1 2022+2.3%+4.7%-15.7%
Q4 2021-0.5%+2.9%-1.6%
Q3 2021+8.5%-0.7%-6.4%
Q2 2021-4.3%-2.5%+9.6%
Q1 2021+3.0%+2.6%+21.3%
Q4 2020+21.6%+23.3%+44.5%
Q3 2020+21.6%+4.4%+37.7%
Q2 2020-0.2%-6.5%-21.6%
Q1 2020-1.4%+2.2%-0.7%
Q4 2019-6.9%-3.5%+5.9%
Q3 2019-4.2%-0.5%-11.7%
Q2 2019-11.3%-12.8%-3.5%
Q1 2019-0.6%+4.0%+22.6%
Q4 2018-1.6%+0.3%+6.4%
Q3 2018+6.5%+1.5%+0.3%
Q2 2018-3.2%-3.8%-8.0%
Q1 2018+4.1%+8.7%+17.3%
Q4 2017+3.1%+3.1%-10.9%
Q3 2017-0.5%-2.8%-11.7%
Q2 2017-7.1%-4.7%-9.8%
Q1 2017-8.4%-7.8%+5.9%
Q4 2016+15.2%+16.0%+8.3%
Q3 2016-6.1%
Q2 2016+1.0%
Q1 2016-7.3%
Q4 2015-5.2%
Q3 2015-3.5%
Q2 2015-2.7%
Q1 2015-5.9%
Q4 2014+2.5%
Q3 2014-4.2%
Q2 2014+7.6%
Q1 2014-0.2%
Q4 2013+8.9%
Q3 2013-3.0%
Q2 2013-2.2%
Q1 2013-10.0%
Q4 2012+2.8%
Q3 2012-1.0%
Q2 2012+0.7%
Q1 2012-3.8%
Q2 2010+1.9%
Q4 2009+1.9%
Q4 2011+1.9%
Q3 2011-0.4%
Q3 2010-0.4%
Q2 2011-1.2%
Q4 2010-1.7%
Q1 2011-1.7%
Q1 2010-1.7%

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