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Brinker International (EAT) shares sank in intraday trading Wednesday after rising costs took a bite out of the the restaurant chain operator's profit and earnings outlook.
Brinker (EAT) fourth-quarter fiscal 2024 top line gains from higher traffic and menu pricing.
The shares of casual restaurant chain owner Brinker (NYSE: EAT ) are sinking 12% in early trading. EAT stock is tumbling after the firm's profits for its fiscal fourth quarter, which ended on June 26, came in below analysts' average estimates.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Although the revenue and EPS for Brinker International (EAT) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Brinker International (EAT) came out with quarterly earnings of $1.61 per share, missing the Zacks Consensus Estimate of $1.65 per share. This compares to earnings of $1.39 per share a year ago.
The premarket trading session can be an exciting one.
U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.1% on Wednesday.
Shares of Brinker International Inc. EAT, +2.86% tumbled 13.7% in premarket trading, after the parent of Chili's and Maggiano's restaurant chains missed fiscal fourth-quarter profit expectations and provided a downbeat fiscal 2025 outlook. Net income for the quarter to June 26 rose to $57.3 million or $1.24 a share, from $54.2 million, or $1.19 a share, in the same period a year ago.
DALLAS , Aug. 14, 2024 /PRNewswire/ -- Brinker International, Inc. (NYSE: EAT) today announced financial results for the fourth quarter ended June 26, 2024, and provided financial guidance for fiscal 2025. Fourth Quarter Fiscal 2024 Financial Highlights Company sales were $1,196.5 million in the fourth quarter of fiscal 2024 compared to $1,064.8 million in the fourth quarter of fiscal 2023.