Earnings release
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Exhibit 99.1 BRINKER INTERNATIONAL REPORTS THIRD QUARTER OF FISCAL 2021 RESULTS AND PROVIDES FOURTH QUARTER OF FISCAL 2021 OUTLOOK DALLAS ( April 28 , 2021 ) – Brinker International , Inc. ( NYSE : EAT ) today announced results for the third quarter of fiscal 2021 ended March 24 , 2021 , and provided a financial update for the fourth quarter of fiscal 2021 . “ I am very pleased with the ongoing growth of our business as our guests are able to return in greater numbers to Chili's and Maggiano's dining rooms , " said Wyman Roberts , CEO and President . " This reopening trend , supported by investment in our digital platforms and virtual brands , now has us meaningfully outperforming our F19 sales and traffic results . ” Fiscal 2021 Highlights - Third Quarter The third quarter of fiscal 2021 results reflect the continued impact from the COVID - 19 pandemic . At the end of the third quarter , substantially all of our Company - owned restaurant dining rooms or patios were open in some capacity in accordance with state and local mandates . Operating income in the third quarter of fiscal 2021 increased to $ 52.2 million as compared to $ 41.1 million in the third quarter of fiscal 2020 . Restaurant operating margin in the third quarter of fiscal 2021 increased to 13.9 % in the third quarter of fiscal 2021 compared to 12.8 % in the third quarter of fiscal 2020 . Chili's Company sales in the third quarter of fiscal 2021 increased to $ 749.0 million in the third quarter of fiscal 2021 as compared to $ 748.7 million in the third quarter of fiscal 2020 . Net income per diluted share , on a GAAP basis , in the third quarter of fiscal 2021 was $ 0.73 compared to $ 0.81 in the third quarter of fiscal 2020 , and excluding special items Net income per diluted share in the third quarter of fiscal 2021 was $ 0.78 compared to $ 1.28 in the third quarter of fiscal 2020 . Net cash provided by operating activities in the thirty - nine week period ended March 24 , 2021 was $ 268.6 million , and capital expenditures totaled $ 62.4 million resulting in free cash flow of $ 206.2 million . The estimated impact of Winter Storm “ Uri ” during the third quarter of fiscal 2021 was a decrease in Company sales of $ 10.5 million , comparable restaurant sales of 1.2 % , and Net income per diluted share , excluding special items , of $ 0.06 . For comparable restaurant sales details and non - GAAP reconciliations , please refer to the Non - GAAP Information and Reconciliations section of this release . Comparable Restaurant Sales for Selected Periods in Fiscal 2021 vs. Fiscal 2019 The following table compares fiscal 2021 to fiscal 2019 due to the impact of the pandemic on fiscal 2020 sales : Brinker Chili's Maggiano's Comparable Restaurant Sales January February March MTD April Through April 21st ( 11.4 ) % ( 12.6 ) % ( 1.8 ) % 6.3 % ( 6.7 ) % ( 8.8 ) % 2.0 % 10.1 % ( 41.0 ) % ( 38.0 ) % ( 29.5 ) % ( 19.7 ) % Comparable restaurant sales includes restaurants that are currently open and had been open under the Company's ownership at least six months at the beginning of the third quarter of fiscal 2019 . 1