DALLAS, Aug. 14, 2024 /PRNewswire/ -- Brinker International, Inc. (NYSE: EAT) today announced financial results for the fourth quarter ended June 26, 2024, and provided financial guidance for fiscal 2025.

Fourth Quarter Fiscal 2024 Financial Highlights

Company sales were $1,196.5 million in the fourth quarter of fiscal 2024 compared to $1,064.8 million in the fourth quarter of fiscal 2023. Comparable restaurant sales increased 13.5%, with an increase in comparable restaurant sales of 14.8% for Chili's and 2.5% for Maggiano's. The comparable restaurant sales increase at Chili's was primarily due to increased menu pricing and higher traffic. The launch of the "Big Smasher" burger and the strength of Chili's advertising highlighting value drove traffic during the fourth quarter. Additionally, the Chili's traffic increase of 5.9% includes a negative impact of approximately 2.3% from our strategic decision to de-emphasize virtual brands. Higher Company sales resulted in operating income margin increasing to 6.1% and restaurant operating margin (non-GAAP) increasing to 15.2% for the fourth quarter. The Company continued to invest in the business during the fourth quarter, increasing restaurant staffing and repairs and maintenance expense. Additionally, our strong business performance significantly exceeded planned targets for the annual and long-term performance-based compensation plans resulting in a $13.2 million increase in General and administrative expenses for the quarter.