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Brinker International (EAT), the parent company of restaurant chains Chili's and Maggiano's Little Italy, saw comparable sales jump 13.5% year-over-year, as reported in its fiscal fourth quarter earnings. The company attributes this feat to higher restaurant traffic and its increase in menu prices.
CNBC's Jim Cramer delivers his daily Mad Dash.
The annual inflation rate in the United States slowed for a fourth successive month in July 2024.
Brinker International, Inc. (NYSE:EAT ) Q4 2024 Earnings Conference Call August 14, 2024 10:00 AM ET Company Participants Kim Sanders - VP of IR Kevin Hochman - President and CEO Mika Ware - CFO Conference Call Participants Chris O'Cull - Stifel Dennis Geiger - UBS Jeffrey Bernstein - Barclays David Palmer - Evercore ISI Andrew Strelzik - BMO Jeff Farmer - Gordon Haskett Brian Vaccaro - Raymond James John Ivankoe - JPMorgan Eric Gonzalez - KeyBanc Brian Mullan - Piper Sandler Operator Good day and welcome to the Brinker International's Q4 F'24 Earnings Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Kim Sanders, Vice President of Investor Relations.
Considering its stellar year-to-date performance, investors may be wondering if the post-earnings dip in Brinker International's (EAT) stock is a buying opportunity.
Brinker International (EAT) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Brinker's restaurants enjoyed a nearly 6% jump in traffic during its most recent quarter. The stock was up more than 60% year to date prior to its financial report, giving investors reason to take some recent gains off of the table.
Brinker International's NYSE: EAT stock price fell 15% following its Q4 release, which presented an appetizing dip for investors to snack on. Weaker-than-expected earnings and softer-than-expected guidance caused the dip, but that is the worst news to be found.
Year over year headline CPI - aka the "Inflation Rate" - came in 10 bps lower than expected to +2.9%.
Immediately following the biggest economic print of the week — the July Consumer Price Index (CPI) report — pre-market futures got pretty noisy. So did bond yields.