Brinker International, Inc. announced robust financial results for the first quarter ended September 25, 2024, with company sales reaching $1,127.3 million, an increase of $125.3 million from $1,002.0 million in the prior year period. Total revenues for the quarter were $1,139.0 million, up $126.5 million year-over-year.
Comparable restaurant sales for Brinker increased by 13.0%, driven by a 14.1% rise at Chili's and a 4.2% increase at Maggiano's. Chili's performance was primarily attributed to menu pricing and higher traffic, with successful advertising and social media campaigns for items like the "Big Smasher" burger and Triple Dipper, and the "3 for Me" value combos.
Profitability also saw significant improvement, with operating income margin increasing to 5.0% from 2.4% in the prior year, and non-GAAP restaurant operating margin rising to 13.5% from 10.4%. Net income surged to $38.5 million from $7.2 million, resulting in diluted earnings per share of $0.84, or $0.95 excluding special items, compared to $0.16 and $0.28 respectively in the prior year.
Based on the strong performance, Brinker International updated its full-year fiscal 2025 guidance, projecting total revenues between $4.70 billion and $4.75 billion, an increase from the previous range. Adjusted diluted earnings per share are now expected to be between $4.00 and $4.25, significantly higher than the prior guidance of $3.50 to $4.00.
The company reiterated its capital expenditures guidance of $200 million to $220 million and weighted average shares between 45.5 million and 46.0 million. These updates reflect management's confidence in sustained operational momentum and the effectiveness of strategic initiatives.
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