Brinker’s Q3 Profit Beats View as Revenue Surges 35%; Shares Rise (EAT)

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Full service restaurant operator Brinker International, Inc. ( EAT ) on Monday posted better-than-expected fiscal third quarter earnings, sending its shares higher in premarket trading Monday.

The Dallas-bed company reported third quarter net income of $44.93 million, or 56 cents per share, compared with $40.25 million, or 45 cents per share, in the year-ago period. Excluding special items, adjusted profit was 60 cents per share.

Revenue rose 35% from last year to $742.05 million.

On average, Wall Street analysts expected a smaller profit of 56 cents per share, on lower revenue of $729.78 million.

CEO Doug Brooks commented, "We also continue to improve the middle of the P&L, further strengthening our business model. These factors combined with returning value to shareholders through share repurchases make us confident we'll deliver on our promise to double EPS by 2015 to $2.75 to $2.80."

Brinker International shares rose $1.60, or +5.7%, in premarket trading Monday.

The Bottom Line
Shares of Brinker International ( EAT ) have a 2.29% dividend yield, based on Friday's closing stock price of $27.90. The stock has technical support in the $25-$26 price area. If the shares can firm up, we see overhead resistance around the $29-$30 price levels.

Brinker International, Inc. ( EAT ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: EAT

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