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Brinker International fiscal Q3 profit falls 6.6% YOY

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Brinker International fiscal Q3 profit falls 6.6% YOY

Brinker International Inc. said its normalized net income for the fiscal third quarter ended March 23 was 89 cents per share, compared with the S&P Capital IQ consensus estimate of 98 cents per share.

EPS rose year over year from 86 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $51.3 million, a decrease of 6.6% from $54.9 million in the year-earlier period.

The normalized profit margin declined to 6.2% from 7.0% in the year-earlier period.

Total revenue increased 5.2% on an annual basis to $824.6 million from $784.2 million, and total operating expenses grew 6.5% year over year to $734.5 million from $689.5 million.

Reported net income fell 12.2% from the prior-year period to $57.4 million, or $1 per share, from $65.4 million, or $1.02 per share.