$EAT (Brinker International, Inc.)

$EAT {{ '2016-08-11T17:49:03+0000' | timeago}} • Webcast

Casual-dining restaurant chain operator $EAT said the company expects 2017 to have a tough macro environment. $EAT is forecasting company owned restaurant capacity growth of approx. 0.5% on a 52-week basis and reported restaurant operating margin is expected to be down approx. 50 BP, reflecting an approx. 25 BP impact from the 53rd week.

$EAT {{ '2017-05-26T11:03:07+0000' | timeago}} • Announcement

$EAT BoD declared a quarterly dividend of $0.34 per share on the company's common stock. The dividend will be payable June 29, 2017 to shareholders of record as of June 12, 2017.

$EAT {{ '2017-04-04T20:55:57+0000' | timeago}} • Announcement

$EAT announced the resignation of EVP and CFO Tom Edwards, who is relocating to accept a role outside the restaurant industry and move closer to his family. This change will be effective April 7, 2017. Joe Taylor will assume the role of interim CFO until a permanent successor is named. A search for Edwards' replacement is underway.

$EAT {{ '2017-03-22T22:45:20+0000' | timeago}} • Announcement

$EAT announced Steve Provost has been named EVP and Chief Marketing and Innovation Officer of Chili's Grill & Bar. As Mr. Provost transitions, the Maggiano's brand will be co-led by Vice Presidents, Genifer Gray and Larry Konecny, who have been promoted to Chief Operations Officer and Vice President and Chief Concept Officer, respectively.

$DIN {{ '2017-03-10T13:10:01+0000' | timeago}} • Announcement

$DIN has named John Cywinski as President of Applebee's, effective March 9, 2017. John most recently served as EVP of Strategic Innovation and Marketing at $EAT, the parent company of Chili's Grill & Bar and Maggiano's Little Italy.

$EAT {{ '2017-02-10T11:56:09+0000' | timeago}} • Announcement

$EAT BoD declared a quarterly dividend of $0.34 per share on the common stock of the company, a 6% increase over the prior year. The dividend will be payable March 30, 2017 to shareholders of record as of March 10, 2017.

$EAT {{ '2016-11-16T15:57:11+0000' | timeago}} • Announcement

$EAT's BoD declared a quarterly dividend of $0.34 per common share. This represents a 6% increase over the prior year. The dividend is payable on Dec. 29, 2016 to shareholders of record on Dec. 9, 2016.

$EAT {{ '2016-09-26T11:24:48+0000' | timeago}} • Announcement

$EAT closed private offering of $350MM of its 5% Senior Notes due 2024. Further, $EAT entered into a $300MM accelerated share repurchase agreement (ASR agreement) with $BAC. $EAT will pay $BAC $300MM in cash and will initially receive about 4.6MM common shares. Final settlement will be completed by end of 3Q17.

$EAT {{ '2016-09-21T06:05:59+0000' | timeago}} • Announcement

Restaurant company $EAT said it has priced its notes offering of $350MM of 5.000% Senior Notes due 2024. Net proceeds from the offering will be used to repurchase up to $300MM of company stock and repay up to $50MM of outstanding debt under company's revolving credit facility. The offering is scheduled to close on Sept. 23, 2016.

$EAT {{ '2016-09-13T14:50:59+0000' | timeago}} • Announcement

$EAT plans to offer $350MM aggregate principal amount of senior notes due 2024. Net proceeds from offering will be used to repurchase up to $300MM of common stock and repay up to $50MM of outstanding debt under its revolving credit facility. Any remaining proceeds are expected to be used for general corporate purposes.

$EAT {{ '2016-08-19T08:37:18+0000' | timeago}} • Announcement

Casual dining restaurant company $EAT said its BoD has raised its quarterly dividend by 6% to $0.34 per share. The new dividend is payable Sept. 29, 2016 to shareholders of record on Sept. 9, 2016.

$EAT {{ '2016-08-11T18:28:17+0000' | timeago}} • Webcast

Peter Saleh with BTIG asks about Penti launch in 2Q16 and if some of the ad message will be transitioned towards Plenti. $EAT said that from a television standpoint, the company doesn't anticipate the Plenti conversion being a big national television message. It will be more targeted and more direct.

$EAT {{ '2016-08-11T18:16:37+0000' | timeago}} • Webcast

John Ivankoe with JPMorgan asks if the company expects to stay investment grade or going high yield. $EAT said that ultimately the company will let the rating agencies provide their feedback and direction on investment grade or non-investment grade. $EAT won't be targeting so much at specific rating.

$EAT {{ '2016-08-11T18:01:00+0000' | timeago}} • Webcast

Sara Senatore of Bernstein asks if one should expect a fairly rapid growth in marketing spend. $EAT said that on advertising spend, the company has taken it up because it was down in the prior year to help fund the loyalty program. The company is not saturated and has got opportunity. So there is increase in spend.

$EAT {{ '2016-08-11T17:53:26+0000' | timeago}} • Webcast

$EAT said the company is forecasting FY17 CapEx of $110-120MM, reflecting investment in new restaurants, maintenance, new bar investments & technology initiatives. Interest expense is expected to increase $15-22MM, due to a higher avg. debt balance and higher anticipated avg. interest rate. Free cash flow expectation is of $230-240MM for the year.

$EAT {{ '2016-08-11T17:49:03+0000' | timeago}} • Webcast

Casual-dining restaurant chain operator $EAT said the company expects 2017 to have a tough macro environment. $EAT is forecasting company owned restaurant capacity growth of approx. 0.5% on a 52-week basis and reported restaurant operating margin is expected to be down approx. 50 BP, reflecting an approx. 25 BP impact from the 53rd week.

$EAT {{ '2016-08-11T12:25:23+0000' | timeago}} • Announcement

$EAT repurchased about 0.4MM shares for $18.7MM in 4Q16 and about 5.8MM shares for $284.9MM YTD. Company plans to raise leverage by $250-300MM in the near term and use the proceeds to return capital to shareholders in the form of share repurchases. BoD has authorized an additional $150MM in repurchase, bringing total available authority to $455MM.

$EAT {{ '2016-08-11T12:24:52+0000' | timeago}} • Announcement

$EAT opened 17 restaurants in total in FY16, bringing total restaurants at end FY16 to 1,660, with 1,259 Chili's Domestic, 350 Chili's International, and 51 Maggiano's restaurants. Company expects to open 48-57 restaurants in total in FY17, of which 10-14 are expected to be Chili's Domestic and 36-41 Chili's International.

$EAT {{ '2016-08-11T12:20:59+0000' | timeago}} • Announcement

$EAT expects depreciation expense to grow $3-5MM in FY17. CapEx is expected to be $110-120MM. G&A expense is expected to be $16-18MM higher on a dollar basis. Company expects effective income tax rate to be 29-31%, free cash flow to be $230-240MM, and diluted shares outstanding to be 50-53MM in FY17.

$EAT {{ '2016-08-11T12:19:14+0000' | timeago}} • Announcement

For FY17, $EAT expects diluted EPS, excluding special items, to be $3.40-3.50. Revenue is expected to be down about 0.5% to up 1%. Comp restaurant sales are expected to rise 0.5-2.0%. Restaurant operating margin is expected to be down about 50 BPs YoverY.

$EAT {{ '2016-08-11T12:18:45+0000' | timeago}} • Announcement

In 4Q16, $EAT's revenue grew 15.4% to $881.7MM and company sales grew 15.8%, mainly due to 103 restaurants acquired with the Pepper Dining deal in 1Q16 as well as the additional operating week in the quarter. Total company comp restaurant sales fell 2.2%, with Chili's company-owned down 1.8%, Maggiano's down 1.7% and Chili's franchise down 3.4%.

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