Solid earnings results from Brinker International Inc. (NYSE: EAT) and Dr Pepper Snapple Group Inc. (NYSE: DPS) this morning were not enough to please investors.
The operator of the Chilis Grill & Bar and Maggiano’s restaurant chains posted adjusted earnings per share (EPS) of $0.37 on revenues of $683.5 million. In the same period a year ago, the company reported EPS of $0.30 on revenues of $668.40 million. The quarter’s results also compare to the Thomson Reuters consensus estimates for EPS of $0.38 and $679.60 million in revenues.
The company attributed growth to improved margins due to modernizing its systems, renovating restaurants and slashing costs.
The Texas-based beverage maker posted earnings of $0.79 per share and sales of $1.53 billion. In the year-ago period, the company reported EPS of $0.71 on $1.53 billion in revenue. The Thomson Reuters consensus estimates called for EPS of $0.77 and revenue of $1.56 billion.
The company stood by its full-year profit forecast of $2.90 to $2.98 per share, but now expects full-year net sales growth of 2%, compared with the prior forecast for growth near the lower end of its long-term range of 3% to 5%. Wall St. estimates call for EPS of $2.96 and $6.06 billion in revenues.
Brinker shares are down more than 2% in early trading to $32.58. The 52-week range is $21.83 to $36.24. Dr Pepper Snapple shares are down more than 2% in to $42.92, in a 52-week range of $34.65 to $45.85.
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
