Brinker International (EAT) is expected to report Q3 earnings before the market open on Tuesday, April 20 with a conference call scheduled for 10 am ET.
Analysts are looking for a profit of 41c on revenue of $790.95M. The consensus range is 33c-44c for EPS, and revenue of $703.59M-$827M, according to First Call. In March, Brinker increased its quarterly dividend 27% to 14c and its board authorized an additional $250M for share repurchases, bringing the total available authorization to $310M. The company guided Q3 non-GAAP EPS 41c-44c, and raised its FY10 EPS view to $1.40-$1.44 from $1.15-$1.30 vs. First Call consensus of $1.41. The company says it revised its outlook based on a projected decrease in comparable restaurant sales of approximately 1%-2% for the fiscal year, which compares to previous estimates of a 2%-4% decrease. Brinker recently announced plans to sell the On The Boarder Mexican Grill & Cantina brand to OTB Acquisition, an affiliate of Golden Gate Capital.