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Brinker International Inc (EAT) SEC Filing 10-Q Quarterly report for the period ending Wednesday, December 27, 2017

Brinker International Inc

CIK: 703351 Ticker: EAT
Exhibit 99.1

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BRINKER INTERNATIONAL REPORTS SECOND QUARTER RESULTS
DALLAS (Jan. 30, 2018) – Brinker International, Inc. (NYSE: EAT) today announced results for the fiscal second quarter ended Dec. 27, 2017.
Highlights include the following:

On a GAAP basis, earnings per diluted share were $0.54 for the second quarter of fiscal 2018 representing a 21.7 percent decrease from $0.69 in the second quarter of fiscal 2017

Earnings per diluted share, excluding special items, were $0.87 for the second quarter of fiscal 2018 representing a 22.5 percent increase from $0.71 in the second quarter of fiscal 2017 (see non-GAAP reconciliation below)

The Tax Cuts and Jobs Act of 2017 (the "Tax Act") negatively impacted GAAP net income by $3.9 million or $0.08 per diluted share, consisting of $8.7 million or $0.18 per diluted share for the revaluation of the Company's net deferred tax assets, partially offset by the impact from the decrease in the statutory tax rate of $4.8 million or $0.10 per diluted share for the second quarter of 2017

Brinker International's total revenues were $766.4 million in the second quarter of fiscal 2018 decreasing 0.6 percent compared to the second quarter of fiscal 2017, and company sales were $742.7 million in the second quarter of fiscal 2018 decreasing 0.8 percent compared to the second quarter of fiscal 2017

Chili’s company-owned comparable restaurant sales decreased 1.5 percent in the second quarter of fiscal 2018 compared to the second quarter of fiscal 2017. Chili's U.S. franchise comparable restaurant sales decreased 1.7 percent in the second quarter of fiscal 2018 compared to the second quarter of fiscal 2017

Chili's international franchise comparable restaurant sales increased 0.1 percent in the second quarter of fiscal 2018 compared to the second quarter of fiscal 2017

Maggiano’s comparable restaurant sales increased 1.8 percent in the second quarter of fiscal 2018 compared to the second quarter of fiscal 2017

Operating income, as a percent of total revenues, was 7.1 percent for the second quarter of fiscal 2018 compared to 8.0 percent for the second quarter of fiscal 2017 representing a decrease of approximately 90 basis points

Restaurant operating margin, as a percent of company sales, was 14.9 percent for the second quarter of fiscal 2018 compared to 15.1 percent for the second quarter of fiscal 2017 representing a decrease of approximately 20 basis points (see non-GAAP reconciliation below)

For the first six months of fiscal 2018, cash flows provided by operating activities were $119.7 million and capital expenditures totaled $48.6 million. Free cash flow was $71.1 million (see non-GAAP reconciliation below)

The Company is updating its fiscal 2018 outlook and now estimates earnings per diluted share, excluding special items and the revaluation of the Company's deferred tax accounts, to be in the range of $3.42 to $3.52 for fiscal 2018
“Brinker saw performance improve across the business during the second quarter, especially related to our initiatives to change traffic trends at Chili’s,” said Wyman Roberts, chief executive officer and president.  “With this foundational strategy in place, we will focus on targeted segments of the business we believe will enhance the guest experience and drive traffic.”



1

The following information was filed by Brinker International Inc (EAT) on Tuesday, January 30, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Brinker International Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (parenthetical)
Consolidated Balance Sheets (unaudited)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Accrued And Other Liabilities
Accrued And Other Liabilities (other Accrued Liabilities) (details)
Accrued And Other Liabilities (other Liabilities) (details)
Accrued And Other Liabilities (tables)
Basis Of Presentation
Basis Of Presentation - Additional Information (detail)
Basis Of Presentation Adjustment For New Accounting Pronouncements (details)
Contingencies
Contingencies - Additional Information (detail)
Effect Of New Accounting Standards
Effect Of New Accounting Standards Additional Information (details)
Fair Value Disclosures (other Financial Instruments) (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements Fair Value Disclosures (narrative) (details)
Income Taxes - Reconciliation Of Federal Statutory Tax Expense To Provision For Income Taxes (details)
Income Taxes Income Taxes
Income Taxes Income Taxes (tables)
Income Taxes Income Taxes - Additional Information (details)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Additional Information (detail)
Long-term Debt - Schedule Of Long-term Debt (detail)
Loss Contingencies (details)
Net Income Per Share
Net Income Per Share (tables)
Other Gains And Charges
Other Gains And Charges (tables)
Other Gains And Charges - Additional Information (detail)
Other Gains And Charges - Schedule Of Other Gains And Charges (detail)
Schedule Of Weighted Average Number Of Shares (details)
Segment Information
Segment Information (reconciliation Of Revenue From Segments To Consolidated) (details)
Segment Information (schedule Of Segment Reporting Information, By Segment) (details)
Segment Information (tables)
Shareholder's Deficit - Additional Information (share Repurchase) (details)
Shareholders' Deficit
Shareholders' Deficit - Additional Information (details)
Shareholders' Deficit Schedule Of Accumulated Other Comprehensive Loss (details)
Shareholders' Deficit Shareholders' Deficit (tables)
Subsequent Events
Subsequent Events (details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (tables)
Supplemental Cash Flow Information - Cash Paid For Income Taxes And Interest (detail)
Supplemental Cash Flow Information - Non-cash Investing And Financing Activities (detail)

Material Contracts, Statements, Certifications & more

Brinker International Inc provided additional information to their SEC Filing as exhibits

Ticker: EAT
CIK: 703351
Form Type: 10-Q Quarterly Report
Accession Number: 0000703351-18-000006
Submitted to the SEC: Fri Feb 02 2018 3:46:24 PM EST
Accepted by the SEC: Fri Feb 02 2018
Period: Wednesday, December 27, 2017
Industry: Retail Eating Places

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