Brinker Adjusts Fiscal 2013 Guidance; Provides Long-Term Goals at Investor Conference (EAT)

Brinker Adjusts Fiscal 2013 Guidance; Provides Long-Term Goals at Investor Conference (EAT)


At Wednesday’s investor conference, restaurant operator Brinker International, Inc. (EAT) announced that it was updating its fiscal 2013 guidance while also sharing its long-term goals.

The Dallas, Texas-based company now expects fiscal 2013 EPS to be on the lower end of a range of $2.30 and $2.45. Analysts are expecting EAT to earn $2.32 per share in 2013.

Additionally, Brinker expects revenue to grow between 3% and 5% for the year, helped by a 2% to 3% growth in domestic comparable-store sales and a 3% growth in international comparable sales.

“Brinker expects to deliver on our promise of doubling earnings per share. This could happen by fiscal 2014, a full year earlier than initially projected,” said Wyman Roberts, CEO of Brinker International. “We’re now looking to the next milestone by setting another long-term goal: to double our fiscal 2012 earnings per share by fiscal 2017. This is yet another aggressive goal, but we are committed to attaining it by driving 10 to 15 percent annual EPS growth during this period.”

To assist in delivering these goals, the company said that is committed to improving its restaurants with hopes of better sales. Chili’s will be focused on food innovation and improved operations, while Maggiano’s Little Italy will use a new restaurant prototype to help grow the brand.

Brinker shares were up $2.02, or +6.30%, during Wednesday trading. The stock is up +26.71% over the past twelve months.

The Bottom Line
Shares of Brinker International (EAT) have a dividend yield of 2.36% based on Wednesday’s intraday trading price of $33.87 and the company’s annualized dividend payout of 80 cents per share.

Brinker International, Inc. (EAT) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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