Brinker International Q4 EPS decreased 7.3 percent
Staff Writer |
Brinker International announced results for the fiscal fourth quarter and year ended June 28, 2017.
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On a GAAP basis, earnings per diluted share in the fourth quarter of fiscal 2017 decreased 7.3 percent to $1.02 compared to $1.10 for the fourth quarter of fiscal 20161.
On a GAAP basis, earnings per diluted share in fiscal 2017 decreased 14.0 percent to $2.94 compared to $3.42 for fiscal 20161.
Earnings per diluted share, excluding special items, in the fourth quarter of fiscal 2017 decreased 12.1 percent to $1.09 compared to $1.24 for the fourth quarter of fiscal 20161.
Earnings per diluted share, excluding special items, in fiscal 2017 decreased 9.9 percent to $3.20 compared to $3.55 for fiscal 20161 (see non-GAAP reconciliation below).
Brinker International's total revenues in the fourth quarter of fiscal 2017 decreased 8.1 percent to $810.7 million compared to the fourth quarter of fiscal 2016, and company sales in the fourth quarter of fiscal 2017 decreased 8.1 percent to $785.8 million compared to the fourth quarter of fiscal 2016, primarily attributable to one less operating week in the fourth quarter of 2017.
Chili's company-owned comparable restaurant sales2 in the fourth quarter of fiscal 2017 decreased 2.2 percent compared to the fourth quarter of fiscal 2016. Chili's U.S. franchise comparable restaurant sales2 in the fourth quarter of fiscal 2017 decreased 0.2 percent compared to the fourth quarter of fiscal 2016.
Maggiano's comparable restaurant sales2 in the fourth quarter of fiscal 2017 increased 0.5 percent compared to the fourth quarter of fiscal 2016.
Chili's international franchise comparable restaurant sales2 in the fourth quarter of fiscal 2017 decreased 4.2 percent compared to the fourth quarter of fiscal 2016.
Operating income, as a percent of total revenues, declined approximately 140 basis points to 9.9 percent in the fourth quarter of fiscal 2017 compared to 11.3 percent for the fourth quarter of fiscal 2016.
Restaurant operating margin, as a percent of company sales, declined approximately 130 basis points to 17.0 percent in the fourth quarter of fiscal 2017 compared to 18.3 percent for the fourth quarter of fiscal 2016.
For fiscal 2017, cash flows provided by operating activities were $312.9 million and capital expenditures totaled $102.6 million. Free cash flow was $210.3 million.
The company's board of directors authorized an additional $250 million in share repurchases which brings the total available authority to approximately $365 million.
The company's board of directors approved a quarterly dividend of $0.38 per share on the common stock of the company, representing a 12 percent increase over the prior year.
The dividend will be payable Sept. 28, 2017 to shareholders of record as of Sept. 8, 2017. ■