Brinker International raised its fiscal 2027 outlook on October 28 after reporting higher quarterly revenue and earnings, according to the restaurant company's results release.
Revenue for the quarter ended September 23 reached $1.476 billion, compared with $1.349 billion a year earlier. Company-operated restaurant sales increased to $1.461 billion from $1.335 billion.
Comparable restaurant sales rose 9.1% overall. Chili's increased 10.1%, which Brinker attributed to higher traffic and menu prices. Maggiano's declined 3.4%, with lower traffic partly offset by pricing.
Operating income increased to $151 million from $117.9 million. Net income rose to $113.3 million from $99.5 million, and diluted earnings reached $2.64 per share, compared with $2.17. Adjusted earnings were $2.77 per share.
Brinker now forecasts annual revenue of $6.23 billion–$6.33 billion, versus $6.15 billion–$6.27 billion previously. Its adjusted earnings outlook increased to $13.30–$13.90 per share from $12.60–$13.40.
The fiscal year includes an extra operating week, which Brinker estimates will add about 2% to revenue. Adjusted earnings exclude special items; the outlook remains a forecast.
Sources: Brinker International fiscal first-quarter release.