- Brinker International Inc (NYSE:EAT) reported fourth-quarter FY21 sales growth of 79% year-on-year, to $1.009 billion, marginally ahead of the consensus of $1.00 billion. Company sales surged to $990.9 million.
- Brinker comparable restaurant sales rose 65.4% Y/Y, Chili’s increased 59.8%, and Maggiano’s climbed 147.9%.
- Operating expenses increased 47.3% Y/Y to $908 million.
- The operating margin was 10%, and operating income for the quarter recovered to $100.6 million.
- The company held $23.9 million in cash and equivalents as of June 30, 2021.
- Net cash provided by operating activities in FY21 totaled $369.7 million with a free cash flow of $275.7 million.
- EPS of $1.68 missed the analyst consensus of $1.71.
- “We continued to accelerate our competitive advantages and multi-channel sales strategy, resulting in traffic-driven share gains and meaningful outperformance of our pre-pandemic sales and margin results,” said CEO Wyman Roberts.
- Price action: EAT traded lower by 1.81% at $50.00 in the premarket on the last check Wednesday.
Facebook, Apple, Google Ban Their Products and Services In Russia
Meta Platforms Inc (NASDAQ: FB) globally demoted content from Russian state-controlled media outlets' Facebook pages, Instagram accounts, and posts containing links to those outlets on Facebook,
