I wonder which chains may not survive this crisis without having to file for bankruptcy, and whether the crisis will alter the future of company capital structures.
The company's return on invested capital is more than twice that of its closest competitors Continue reading...
Shares of Brinker International (NYSE:EAT) were flat in pre-market trading after the company reported Q3 results.Quarterly Results Earnings per share increased 1.59% year over year to $1.28, which beat the estimate of $0.70.Revenue of $860,000,000 higher by 2.47% year over year, which missed the estimate of $865,880,000.Outlook Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.Conference Call Details Date: Apr 29, 2020View more earnings on EATTime: 11:01 AM ETWebcast URL: https://edge.media-server.com/mmc/p/iztwfrzaRecent Stock Performance 52-week high: $47.5752-week low: $7.00Price action over last quarter: down 56.07%Company Description Brinker International Inc operates casual dining restaurants under the brands Chili Grill and Bar (Chili's) and Maggiano's Little Italy (Maggiano's). Chili's falls in the Bar and Grill category of casual dining. Its menu features Fresh Mex and Fresh Tex favorites including signature items such as slow-smoked baby back ribs, craft burgers, fajitas, and famous bottomless chips and salsa paired with tableside guacamole. Maggiano's is an Italian restaurant brand with a full lunch and dinner menu offering chef-prepared, such as appetizers, chicken, seafood, veal and prime steaks, and desserts.See more from Benzinga * 14 Consumer Cyclical Stocks Moving In Thursday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Moody's Investors Service ("Moody's") today downgraded Brinker International, Inc.'s ("Brinker") Corporate Family Rating (CFR) to B1 from Ba3, Probability of Default Rating (PDR) to B1-PD from Ba3-PD and senior unsecured non-guaranteed notes to B3 from B2. This concludes Moody's review for downgrade initiated on March 23, 2020. "The downgrades reflect that Brinker's revenues and earnings will remain well below last year even after many of its restaurants have opened given the material limitations on in-unit dining capacity that are expected to be put in place in local jurisdictions to maintain social distancing," stated Bill Fahy, Moody's Senior Credit Officer.
EAT earnings call for the period ending March 31, 2020.
Brinker International, Inc. (NYSE: EAT) (the "Company") announced today that it has priced an underwritten public offering of 7,000,000 shares of its common stock at $18.25 per share. The Company granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock. The offering is expected to close on or about May 11, 2020, subject to customary closing conditions.
Brinker International (EAT) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Restaurant stocks have been whipsawed by poor earnings, Covid-19 warnings from health experts, and hopes about reopenings and vaccine progress. Analyst Brian Vaccaro notes that restaurants’ ability to raise capital in recent weeks has bolstered balance sheets, in many cases pushing off any concerns about liquidity to a year or more. “While risks obviously remain, for investors seeking tactical long ideas in an environment of improving weekly sales data as more states reopen (and capacity limits are raised),” there are still restaurant stocks worth buying, he writes.
Brinker's (EAT) third-quarter fiscal 2020 top line reflects gains from the acquisition of 116 Chili's restaurants.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Brinker International, Inc. New York, May 04, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Brinker International, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Shares of BJ's Restaurants (NASDAQ: BJRI), Bloomin' Brands (NASDAQ: BLMN), and Brinker International (NYSE: EAT), well-known restaurant companies, all jumped over 10% Monday after the hard-hit industry sensed that some states are pushing to dial back social-distancing measures. The restaurant industry, especially brands that rely heavily on the dine-in crowd rather than pickup and delivery, has been hard hit during COVID-19 as social distancing and closed restaurants have slowed sales to a near standstill.
Q3 2020 Brinker International Inc Earnings Call
Comments from the Fed chairman certainly didn't remove the doom and gloom surrounding the restaurant industry.
Bear of the Day: Brinker International (EAT)
Brinker International, Inc. (NYSE: EAT) today announced a business update related to the novel strain of coronavirus ("COVID-19"), in addition to results for the third quarter of fiscal 2020 ended March 25, 2020.
Restaurant stocks are on fire...in a good way. Brinker International (NYSE: EAT) is soaring nearly 30% on an earnings beat, and Cheesecake Factory (NASDAQ: CAKE) and Darden Restaurants (NYSE: DRI) jumped as much as 20% and 8%, respectively, as more states talk about reopening parts of their economies. Restaurant stocks continued to rebound from their initial sell-off as COVID-19 took the nation's attention.
Shares of Brinker International Inc. soared 12% in premarket trading Wednesday, after the Chili's and Maggiano's restaurants parent reported fiscal third-quarter profit that was well above expectations, and said it witnessed improving trends in the same-restaurant sales during April. Net income fell to $30.8 million, or 81 cents a share, from $49.8 million, or $1.31 a share, in the year-ago period. Excluding non-recurring items, such as performance-based compensation expenses, adjusted earnings per share came to $1.28, well above the FactSet consensus of 66 cents. Revenue rose to $860.0 million from $839.3 million to beat expectations of $857.0 million. Same-restaurant sales for company-owned Chili's had increased 3.3% and for Maggiano's grew 0.6% through March 8, but Chili's sales ended up down 5.3% and Maggiano's sales fell 9.9% for the full quarter. For the first 4 weeks of April, same-restaurant sales of company-owned restaurants fell 64.6%, 59.7%, 53.1% and 46.8%. The stock has plunged 57.1% over the past three months, while the S&P 500 has lost 12.5%.
Chegg, Brinker International, Microsoft, SAP and Appian highlighted as Zacks Bull and Bear of the Day
Brinker International (EAT) delivered earnings and revenue surprises of 166.67% and 1.19%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Brinker International, Inc. (NYSE: EAT) (the "Company") announced today that it has commenced an underwritten public offering of $125 million in aggregate value of shares of its common stock. The Company also intends to grant a 30-day option to the underwriters to purchase up to an additional $18.75 million in aggregate value of shares of common stock.