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
Our community is currently high on Brinker International Inc. with 14 Buy predictions and 7 Sell predictions.
On the other hand, the target price of 53 € is below the current price of 67.0 € for Brinker International Inc., so the potential is actually -20.9%.
