Here's Why Brinker International Stock Sank Today
Shares of restaurant company Brinker International (NYSE: EAT) -- parent of Chili's and Maggiano's Little Italy -- sank on Wednesday after it reported financial results for its fiscal fourth quarter of 2024. As of noon ET today, Brinker stock was down about 13%.
Brinker's fourth quarter ended in late June, and traffic to its restaurants during that period was surprisingly strong. A near 6% year-over-year jump coupled with price increases led to fourth-quarter same-store sales growth of 13.5%. This helped lift full-year revenue to $4.4 billion, up nearly 7% from its fiscal 2023.
On an adjusted basis, full-year diluted earnings per share (EPS) of $4.10 were lower than what analysts had expected. Moreover, management expects adjusted diluted EPS of $4.75, at most, in fiscal 2025, which is also lower than expectations.
Source Fool.com
Brinker International Inc. Stock
The stock is an absolute favorite of our community with 30 Buy predictions and no Sell predictions.
With a target price of 158 € there is a positive potential of 20.56% for Brinker International Inc. compared to the current price of 131.05 €.
