Restaurant owner and operator Brinker International, Inc. (EAT) said on Tuesday that it saw an increase in second quarter profit and revenue with earnings in-line with Wall Street views while revenue missed.
The Dallas, Texas-based company posted second quarter net income of $37.2 million, or 50 cents per share, up +4% from $35.7 million, or 44 cents per share, earned in the same period in the same period a year earlier. Adjusted earnings for the quarter was $37.3 million, or 50 cents per share. According to analysts polled by Thomson Reuters, the company as expected to earn 50 cents per share for the quarter.
Brinker revenue came in at $689.76 million, slightly higher than the $681.9 million in revenue a year ago. Analysts were expecting revenue to be $692.95 million.
Brinker shares were flat during pre-market trading on Tuesday. The stock is up +20.95% over the past year.
The Bottom Line
Shares of Brinker International (EAT) have a 2.40% dividend yield, based on Friday’s closing stock price of $33.37. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the all-time high level of $36 per share.
Brinker International, Inc. (EAT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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