Brinker International (EAT) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
FLIC, FFBC, SN, EAT and SBSI have been added to the Zacks Rank #1 (Strong Buy) List on August 16, 2024.
NCLH, EAT and RCL made it to the Zacks Rank #1 (Strong Buy) growth stocks list on August 16, 2024.
EAT, PINE and SBSI made it to the Zacks Rank #1 (Strong Buy) value stocks list on August 16, 2024.
Chili's reported same-store sales growth of 14.8% in its latest quarter, fueled by the popularity of its Triple Dipper and its $10.99 Big Smasher meal. Brinker International has been trying to turn around the chain for the last two years, and its results this quarter showed the efforts are bearing fruit, CEO Kevin Hochman said.
The annual inflation rate in the United States slowed for a fourth successive month in July 2024.
The full-service dining industry was under profit margin and demand pressures before 2020 but has been dramatically exacerbated. Brinker International may indirectly benefit from economic strains as it gains market share from closing independent restaurants and, more recently, competing chains. That trend has resulted in same-store sales growth that I expect will prove transitory as slowing consumer demand spreads into the "middle-class" restaurant market.
Brinker International, Inc. (NYSE:EAT ) Q4 2024 Earnings Conference Call August 14, 2024 10:00 AM ET Company Participants Kim Sanders - VP of IR Kevin Hochman - President and CEO Mika Ware - CFO Conference Call Participants Chris O'Cull - Stifel Dennis Geiger - UBS Jeffrey Bernstein - Barclays David Palmer - Evercore ISI Andrew Strelzik - BMO Jeff Farmer - Gordon Haskett Brian Vaccaro - Raymond James John Ivankoe - JPMorgan Eric Gonzalez - KeyBanc Brian Mullan - Piper Sandler Operator Good day and welcome to the Brinker International's Q4 F'24 Earnings Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Kim Sanders, Vice President of Investor Relations.
Considering its stellar year-to-date performance, investors may be wondering if the post-earnings dip in Brinker International's (EAT) stock is a buying opportunity.
Brinker International (EAT) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Brinker's restaurants enjoyed a nearly 6% jump in traffic during its most recent quarter. The stock was up more than 60% year to date prior to its financial report, giving investors reason to take some recent gains off of the table.
Brinker International's NYSE: EAT stock price fell 15% following its Q4 release, which presented an appetizing dip for investors to snack on. Weaker-than-expected earnings and softer-than-expected guidance caused the dip, but that is the worst news to be found.