Brinker International, Inc. (EAT) on Wednesday reported higher earnings in the first quarter backed by sales growth. However, on adjusted basis, earnings missed the Street view.
Net income in the first quarter increased to $13.2 million or $0.28 per share from $10.7 million or $0.23 per share in the same quarter a year ago.
Excluding items, earnings were $16.1 million or $0.34 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.69 per share. Analysts' estimates typically exclude special items.
Sales for the quarter rose to $859.6 million from $728.2 million last year.
For the full year, the company expects revenue in the range of $3.75 billion to $3.85 billion. Adjusted EPS for the full-year is forecast in the range of $3.50 and $3.80.
Analysts see earnings of $3.91 per share on revenue of $3.78 billion for the period.
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