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Brinker International, Inc. (NYSE: EAT) is a globally recognized leader in the casual dining restaurant industry. Headquartered in Dallas, Texas, Brinker operates more than 1,600 restaurants across 31 countries and two territories, making it one of the world's most influential casual dining companies. Established in 1975, Brinker owns and franchises two major brands: Chili's® Grill & Bar and Maggiano's Little Italy®.
Chili's® Grill & Bar is renowned for its vibrant atmosphere and signature menu items, including slow-smoked baby back ribs, craft burgers, and sizzling fajitas. With a commitment to fresh, high-quality ingredients, Chili's offers a delightful dining experience for families and friends. The brand also engages in various community give-back initiatives, raising over $100 million for St. Jude Children's Research Hospital through guest donations.
Maggiano's Little Italy® specializes in Italian-American cuisine, offering both classic and contemporary dishes. With a focus on large group dining and carryout options, Maggiano's is the perfect venue for family gatherings and holiday celebrations. The restaurant offers a diverse menu featuring appetizers, entrees like Beef Tenderloin Medallions, and desserts that cater to varied palates.
Brinker's commitment to customer satisfaction and operational excellence is evident in its recent financial performance. For the second quarter of fiscal 2024, Brinker reported a 51.6% increase in net income per diluted share compared to the previous year. The company's strategy to simplify operations and enhance guest experiences has driven a 5.2% increase in comparable restaurant sales.
Innovation is at the core of Brinker's growth strategy. Recently, Chili's introduced the Espresso Martini with a unique twist, replacing traditional vodka with reposado tequila. Additionally, Chili's has partnered with NASCAR's Spire Motorsports to sponsor the No. 7 Chevrolet Camaro ZL1, driven by Corey LaJoie, further showcasing its innovative marketing approach.
Brinker's dedication to team member satisfaction is also noteworthy, with an impressive 87% retention rate at its Restaurant Support Center. This commitment to its people earned Brinker a spot as one of the best places to work in Dallas in 2016.
With a focus on continuous improvement, Brinker recently promoted Jeremy Linker to Senior Vice President of Brand Finance. Linker has been instrumental in shaping the company's pricing strategies and ensuring operational efficiency.
For investors and stakeholders, Brinker's robust financial health, strategic partnerships, and innovative marketing efforts present a promising outlook. The company's forward-thinking approach and dedication to quality make it a standout in the casual dining industry.
Brinker International has appointed Mike Wesley as Vice President of Marketing for Maggiano's Little Italy. Wesley brings nearly 15 years of industry experience, joining after a 14-year tenure at Yum! Brands where he served as VP of Brand Marketing for KFC U.S. This appointment follows recent leadership additions including President Dominique Bertolone and VP of Innovation and Growth Chef Anthony Amoroso. In his new role, Wesley will focus on amplifying the Maggiano's brand and driving key marketing and promotional strategies as the restaurant chain enters its next era of Italian American dining.
Chili's is launching a -edition Triple Dipper Dream Collection, inspired by their viral menu item that garnered over 200 million TikTok views. The collection, available from November 21, includes themed bedding, eye masks, and socks, priced from $10 to $100. This launch follows the Triple Dipper's success, with sales up 70% year over year in Q1. Additionally, Chili's is introducing Honey Chipotle Mozz to their secret menu, following the successful launch of Nashville Hot Mozz earlier this year.
Maggiano's Little Italy has unveiled new fall-inspired menu items and its Thanksgiving Family-Style menu for November 2024. The seasonal additions include Butternut Squash Ravioli, 'Riserva' Veal Parmesan, and Pumpkin Praline Cheesecake, available until December 4. The restaurant has also permanently added Fettucine Bolognese to its menu following positive guest feedback. The Thanksgiving menu, available November 28, features a three-course meal with multiple entrée, pasta, and dessert options, served family-style for both dine-in and carryout. Carryout packages serving up to five people can be ordered for hot or cold preparation, with orders required by 8 p.m. the day before pickup.
Brinker International (NYSE: EAT) reported strong first quarter fiscal 2025 results, with company sales reaching $1,127.3 million, up from $1,002.0 million in Q1 2024. Comparable restaurant sales increased 13.0%, with Chili's up 14.1% and Maggiano's up 4.2%. Operating income margin improved to 5.0%, while restaurant operating margin increased to 13.5%. Net income per diluted share was $0.84. The company updated its fiscal 2025 guidance, projecting total revenues between $4.70-$4.75 billion and adjusted earnings per share of $5.20-$5.50.
Brinker International, Inc. (NYSE: EAT) has rescheduled its first quarter fiscal 2025 earnings call to Wednesday, October 30, 2024, at 9:00 am Eastern Time. This change aims to minimize conflicts with other industry earnings announcements. The company will release its Q1 FY2025 results before the U.S. financial markets open on the same day.
Investors can access the live audio webcast through Brinker's investor relations website. A replay of the conference call will be available on the website for two weeks after the event and via Thomson StreetEvents for their service subscribers.
Brinker International, Inc. (NYSE: EAT) has announced its upcoming first quarter fiscal 2025 earnings call, scheduled for Wednesday, October 30, 2024, at 10 a.m. Eastern Time. The company will release its earnings report before the market opens on the same day. Investors and interested parties can access the live audio webcast through Brinker's investor relations website. The call may also include other business updates. For those unable to attend live, a replay of the conference call will be available on the website for two weeks following the event. Additionally, Thomson StreetEvents will provide access to the replay for their service subscribers.
Maggiano's Little Italy, owned by Brinker International (NYSE: EAT), has appointed Michelin-starred Chef Anthony Amoroso as Vice President of Innovation and Growth. This move marks a significant step in the brand's culinary evolution, introducing eight new Italian-American classics to the menu. The new offerings include appetizers like the Antipasto Board and Truffle & Honey Whipped Ricotta, entrees such as the 'Riserva' Veal Parmesan and Rigatoni alla Vodka, and a Dessert Trio Platter.
These additions complement Maggiano's recently released Master Sommelier Selection, a curated collection of six wines chosen by Master Sommelier Jason Smith. The menu enhancements aim to blend tradition with innovation, catering to both longtime guests and newcomers. This initiative aligns with Maggiano's commitment to providing exceptional dining experiences and elevating its culinary offerings.
Chili's Grill & Bar introduces 3 For Lunch Combos, offering 11 options starting at $10.99 on weekdays from 11 a.m. to 3 p.m. The combo includes bottomless chips and salsa, choice of entrée, and a bottomless non-alcoholic drink. Menu features elevated versions of popular lunch items like burgers, chicken tenders, and sandwiches.
To highlight the value, Chili's challenges professional eater Joey Chestnut to finish a 3 For Lunch Combo on October 1, 2024. If Chestnut wins, he gets the 3 for Lunch Golden Basket Belt and lunch money for a year. If he loses, Chili's guests can win free 3 For Lunch Combos for a year.
Chili's Grill & Bar has announced the return of its Create-A-Pepper program in partnership with St. Jude Children's Research Hospital®. This initiative, celebrating its 22nd year, has raised over $110 million to date. Throughout September, which is Childhood Cancer Awareness Month, guests can purchase coloring sheets at Chili's locations for $1, $5, $10, or $25, with 100% of proceeds going to St. Jude.
The program supports St. Jude's mission of advancing treatment and research for cancer and other life-threatening diseases. Chili's was recently named the 2024 St. Jude Corporate Champion in recognition of their long-standing partnership. The Create-A-Pepper campaign began in 2002 in Memphis and has since grown into a nationwide initiative.
Brinker International (NYSE: EAT) reported strong Q4 fiscal 2024 results, with Company sales increasing to $1,196.5 million, up from $1,064.8 million in Q4 fiscal 2023. Comparable restaurant sales rose 13.5%, driven by a 14.8% increase at Chili's and 2.5% at Maggiano's. The company's operating income margin improved to 6.1%, while restaurant operating margin (non-GAAP) increased to 15.2%.
Diluted net income per share reached $1.24, compared to $1.19 in the previous year. For fiscal 2025, Brinker expects total revenues between $4.55 billion and $4.62 billion, with net income per diluted share (excluding special items) projected at $4.35 to $4.75. The company ended fiscal 2024 with no outstanding borrowings on its $900.0 million revolving credit facility and $64.6 million in cash.
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