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EX - 99.1 2 fy21q2ex991 - earningsrelease.htm EX - 99.1 Exhibit 99.1 BRINKER INTERNATIONAL REPORTS SECOND QUARTER OF FISCAL 2021 RESULTS DALLAS ( January 27 , 2021 ) - Brinker International , Inc. ( NYSE : EAT ) today announced results for the second quarter of fiscal 2021 ended December 23 , 2020 . " I'm proud of our operators and their focus on providing our guests the best possible experience , " said Wyman Roberts , CEO and President . " We know even more guests are excited to come back as the country emerges from the pandemic . We have continued to invest in our business and are well positioned for growth . " Fiscal 2021 Highlights - Second Quarter Financial metrics for the second quarter of fiscal 2021 compared to the second quarter of fiscal 2020 were negatively impacted by the ongoing COVID - 19 pandemic . Total revenues declined due to capacity limitations and personal safety preferences , partially offset by increased off - premise sales . Net income per diluted share , on a GAAP basis , in the second quarter of fiscal 2021 decreased 64.4 % to $ 0.26 compared to $ 0.73 in the second quarter of fiscal 2020 Net income per diluted share , excluding special items , in the second quarter of fiscal 2021 decreased 65.3 % to $ 0.35 compared to $ 1.01 in the second quarter of fiscal 2020 Net cash provided by operating activities in the twenty - six week period ended December 23 , 2020 was $ 130.0 million , and capital expenditures totaled $ 37.1 million resulting in free cash flow of $ 92.9 million Net repayments of $ 66.6 million were made on the revolving credit facility in the twenty - six week period ended December 23 , 2020 resulting in total available liquidity of $ 657.8 million as of December 23 , 2020 As of January 20 , 2021 , approximately 82 % of Chili's and 69 % of Maggiano's restaurants were operating with open dining rooms For comparable restaurant sales details and non - GAAP reconciliations , please refer to the Non - GAAP Information and Reconciliations section of this release . Financial Metrics Company sales Total revenues Operating income Operating income as a percentage of Total revenues Restaurant operating margin , non - GAAP ( 1 ) Restaurant operating margin as a percentage of Company sales , non - GAAP Net income per diluted share Net income per diluted share , excluding special items , non - GAAP 1 Second Quarter 2021 ( 2 ) 2020 % Change $ 746.2 $ 847.5 ( 12.0 ) % 760.7 $ 869.3 ( 12.5 ) % $ 22.1 $ 43.5 ( 49.2 ) % 2.9 % 5.0 % ( 2.1 ) % 80.2 $ 107.9 ( 25.7 ) % 10.7 % 12.7 % ( 2.0 ) % SASA 0.26 $ 0.35 $ SS 0.73 ( 64.4 ) % 1.01 ( 65.3 ) %