The EPS miss is a minor negative but likely overshadowed by strong FY2027 guidance and a massive $750M buyback authorization. Monitor the Q1 FY2027 earnings call on Oct 28 for early read on traffic momentum and margin trajectory under the new guidance.
Price Chart
Executive Summary
Brinker International reported Q4 FY2026 results with GAAP EPS of $2.99 (vs $3.09 consensus, a -3.2% miss) and total revenues of $1.5358B (vs $1.53B consensus, a slight beat). Chilis comparable sales grew 5.6% with positive traffic, but Maggianos continued to decline (-2.5%). The company guided FY2027 revenue to $6.15B-$6.27B and non-GAAP EPS to $12.60-$13.40, implying strong growth. The board also authorized a $750M share repurchase program. The EPS miss on a strong quarter is a minor negative, but the robust guidance and aggressive buyback signal management confidence, creating a mixed picture.
Key Financial Metrics
Key Facts
- Q4 FY2026 GAAP EPS of $2.99 missed consensus of $3.09 by -3.2%
- Total revenues of $1.5358B slightly beat consensus of $1.53B
- Chilis comparable restaurant sales grew 5.6% with positive traffic of 1.5%
- Maggianos comparable sales declined -2.5% with traffic down -5.3%
- FY2027 guidance: total revenues $6.15B-$6.27B, non-GAAP EPS $12.60-$13.40
- Board authorized $750M share repurchase program (including $718M new authorization)
- Company redeemed $350M 8.25% notes post-quarter, funded by revolver borrowings
- Operating cash flow for FY2026 was $789.4M, up from $679.0M in FY2025
- Restaurant operating margin (non-GAAP) improved to 18.0% of company sales from 17.8% YoY
Financial Impact
Q4 GAAP EPS miss of $0.10 vs consensus; FY2027 guidance implies ~20% YoY growth in non-GAAP EPS at midpoint
Risk Factors
- Maggianos continues to underperform with negative traffic and sales deleverage
- Higher beef and produce costs could pressure food margins in FY2027
- Debt refinancing (revolver borrowings to redeem $350M notes) may increase interest expense
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000703351-26-000026 |
| Document: eat-20260810.htm | 0000703351-26-000026 |
| Document: 0000703351-26-000026-index-headers.html | 0000703351-26-000026 |
| Document: 0000703351-26-000026-index.html | 0000703351-26-000026 |
| Document: 0000703351-26-000026.txt | 0000703351-26-000026 |
| 8-K Data (Synthetic) | 0000703351-26-000026 |
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