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Brinker International Sees FY18 Adj. EPS Above View

Brinker International Inc. (EAT) said it expects earnings per share, excluding special items, to be in the range of $3.25 to $3.35 for fiscal 2018. Analysts polled by Thomson Reuters expect the company to report earnings of $3.22 per share for fiscal 2018. Analysts' estimates typically exclude special items.

Revenues for fiscal 2018 are expected to be up approximately one half percent to 1.5 percent. Comparable restaurant sales are expected to be flat to up 1.0 percent.

Chili's company-owned comparable restaurant sales in the fourth quarter of fiscal 2017 decreased 2.2 percent compared to the fourth quarter of fiscal 2016. Chili's U.S. franchise comparable restaurant sales in the fourth quarter of fiscal 2017 decreased 0.2 percent compared to the fourth quarter of fiscal 2016. Maggiano's comparable restaurant sales in the fourth quarter of fiscal 2017 increased 0.5 percent compared to the fourth quarter of fiscal 2016.
Chili's international franchise comparable restaurant sales in the fourth quarter of fiscal 2017 decreased 4.2 percent compared to the fourth quarter of fiscal 2016.

The company's Board of Directors authorized an additional $250 million in share repurchases which brings the total available authority to approximately $365 million.

The company's Board of Directors approved a quarterly dividend of $0.38 per share on the common stock of the company, representing a 12 percent increase over the prior year. The dividend will be payable September 28, 2017 to shareholders of record as of September 8, 2017.

by RTT Staff Writer

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