Chili’s rethink of its menu could help in the next quarter, but we’re not sure what Maggiano’s can do to distinguish itself in the minds of consumers.
— Jason Clampet
Brinker International Inc. (EAT) on Wednesday reported fiscal first-quarter earnings of $9.9 million.
On a per-share basis, the Dallas-based company said it had profit of 20 cents. Earnings, adjusted for non-recurring costs and pretax expenses, came to 42 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The operator of restaurant chains Chili’s Grill & Bar and Maggiano’s Little Italy posted revenue of $739.4 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $756.5 million.
Brinker International shares have dropped 38 percent since the beginning of the year. The stock has declined 38 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research.