Brinker International Updates Fourth Quarter And Fiscal 2016 Outlook; Provides Select Fiscal 2017 Guidance

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DALLAS, June 8, 2016 ( — In advance of its Investor Day tomorrow, June 9th, Brinker International, Inc. announced the following items:

Fiscal 2016 and Fourth Quarter Outlook:

  • The company continues to expect fiscal 2016 earnings per diluted share, excluding special items, to be near the low end of our original guidance range of $3.55 to $3.65.
  • The company continues to expect fiscal fourth quarter 2016 comparable restaurant sales to improve from fiscal third quarter 2016 results; although remain negative. As of June 2, quarter-to-date Brinker International company-owned comparable restaurant sales decreased 2.0 percent which includes a 2.0 percent and 1.5 percent decrease for Chili’s and Maggiano’s company-owned restaurants, respectively, as of that date. The quarter-to-date Brinker company-owned comparable restaurant sales figure represents an improvement of 160 basis points from the third quarter reported number.

Fiscal 2017 Select Guidance:

  • Brinker International comparable restaurant sales growth for fiscal 2017 is expected to be in a range of 0.5 to 2.0 percent.
  • The company anticipates fiscal 2017 earnings per diluted share, excluding special items, to be in a range of $3.40 to $3.50.
  • Fiscal 2017 capital expenditures are expected to be in a range of $110 to $120 million.
  • Full detailed guidance for fiscal 2017 will be provided with the company’s fourth quarter earnings announcement on August 11, 2016.

“We are encouraged by the quarter-to-date progress of our brands,” said Wyman Roberts, chief executive officer and president. “We look forward to discussing a number of initiatives designed to build on this progress and continue momentum into fiscal 2017 and beyond at our investor day tomorrow.”

Brinker International, Inc. is one of the world’s leading casual dining restaurant companies. Founded in 1975 and based in Dallas, Texas, as of March 23, 2016, Brinker owned, operated, or franchised 1,647 restaurants under the names Chili’s® Grill & Bar (1,596 restaurants) and Maggiano’s Little Italy® (51 restaurants).

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