Brinker International Inc., the proprietor of a multitude of casual dining restaurants, announced on Wednesday that its profit for the second quarter had seen a notable increase from the previous year. This surge in earnings was primarily attributed to the company's efficient marketing and pricing strategies.
In addition to its successful second-quarter report, Brinker has also augmented its full-year outlook. Over this quarter, the company witnessed a profit of $42.1 million or $0.94 per share, a significant climb from the same quarter a year ago, when it saw a profit of $27.9 million or $0.62 per share.
Discounting the effect of one-time expenditure items, the earnings for this quarter stand at $44.7 million or $0.99 per share. This beats the average estimate proposed by analysts and provided by Thomson-Reuters, who predicted earnings of $0.95 per share. It's noteworthy to state that these analyst estimates generally exclude special items.
The company's revenue for the quarter swelled to $1.074 billion from last year's $1.019 billion reported in the same quarter. The consensus forecast for this quarter was previously set at $1.08 billion.
Taking a look at the rest of the fiscal year, the company now anticipates earnings per share to be between $3.45 and $3.70, a noticeable leap from the previous forecast that ranged between $3.35 and $3.65. Revenue projections for the full year have also been modified, and are now anticipated to be between $4.30 billion and $4.35 billion, an increase from the earlier prediction of $4.27 billion - $4.35 billion.
The Wall Street expectations for the company's annual report project earnings of $3.54 per share with a revenue totaling $4.34 billion.
