Brinker International Earnings Call Transcripts
Fiscal Year 2026
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Significant growth in sales, margins, and guest counts has been achieved through menu simplification, operational investments, and innovative marketing. The next phase focuses on disciplined new unit growth, re-imaging, and technology upgrades, targeting 4%-6% annual revenue growth and double-digit EPS, while maintaining strong capital returns and a robust balance sheet.
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Chili's delivered its 21st consecutive quarter of same-store sales growth, with Q4 comps up 6% and strong momentum from new menu items and operational improvements. Fiscal 2026 saw revenue up 7.9% and adjusted EPS up 20.6%. FY27 guidance projects continued outperformance, with a 53rd week boosting results.
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Q3 saw continued strong sales and traffic growth, with Chili's outperforming the industry and launching a successful chicken sandwich platform. Margins were stable despite inflation, and guidance was raised for fiscal 2026. Share repurchases and reimage investments support future growth.
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Chili's delivered 8.6% same-store sales growth in Q2, outpacing the industry, with strong revenue and EPS gains. Guidance for fiscal 2026 was raised despite weather-related disruptions, and investments in menu innovation, reimaging, and marketing are expected to sustain momentum.
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Q1 delivered strong results with Chili's comp sales up 21.4% and traffic up 13%, while Maggiano's saw a 6.4% comp decline. Guidance is reiterated, with mid-single digit same-store sales growth expected for the rest of the year, and margins facing pressure from tariffs and Maggiano's investments.
Fiscal Year 2025
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Chili's delivered industry-leading Q4 and FY2025 results, with double-digit same-store sales and margin expansion, while Maggiano's saw flat comps. Fiscal 2026 guidance projects continued revenue and EPS growth, positive comps each quarter, and increased investments in reimaging and new units.
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Q3 saw robust sales and margin growth, led by Chili's strong comp sales and traffic gains, while Maggiano's continued its turnaround. Operational improvements, menu innovation, and marketing drove results, with guidance raised for FY25. CapEx increased for equipment upgrades.
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Record Q2 results featured 27.4% comp sales growth, 600 bps margin expansion, and EPS nearly tripling year-over-year. Operational improvements, menu innovation, and social media campaigns drove sustained traffic and guest frequency, supporting raised FY2025 guidance.
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Q1 saw robust sales and margin growth, with Chili’s comp sales up 14.1% and Maggiano’s operating income up 117% year-over-year. Full-year guidance was raised, and operational improvements, menu simplification, and targeted marketing continue to drive outperformance.
Fiscal Year 2024
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Fiscal 2024 saw strong revenue, margin, and EPS growth, driven by operational improvements, menu innovation, and effective marketing. FY25 guidance anticipates continued sales and margin expansion, with investments in labor, technology, and brand relevance, while monitoring macroeconomic risks.