Brinker Jumps on Q1 Numbers

Brinker International, Inc. (NYSE:EAT) Wednesday provided a business update related to the first quarter of fiscal 2021 and announced results for the fourth quarter and fiscal year 2020 ended June 24, 2020.

The Dallas-based restaurant chain said financial metrics of the fourth quarter of fiscal 2020 compared to the fourth quarter of fiscal 2019, and fiscal year 2020 compared to fiscal year 2019, were negatively impacted due to the COVID-19 pandemic, partially offset by the acquisition of 116 Chili's restaurants in the first quarter of fiscal 2020 and increased off-premise sales.

For non-GAAP information and related reconciliations, refer to the tables and information at the end of this earnings release.

Reported earnings per diluted share was a loss of $1.20 in the fourth quarter of fiscal 2020, and earnings of $0.63 in fiscal 2020

Adjusted earnings per diluted share was a loss of $0.88 in the fourth quarter of fiscal 2020, and earnings of $1.71 in fiscal 2020

Cash flows from operating activities in the full fiscal year 2020 were $245.0 million, and capital expenditures totaled $104.5 million resulting in free cash flow of $140.5 million.

Said CEO Wyman Roberts, "Our continued strategic focus on value, off-premise, digital and scale is allowing us to successfully navigate through the pandemic.

"Leaning into these existing strategies with a clear focus and continually prioritizing the safety of our Team Members and Guests has allowed us to accelerate our performance and deliver industry leading results."

EAT shares gathered 86 cents, or 2.9%, to $31.02.