secwatch.observer — SEC 8-K summary
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Issuer:     BRINKER INTERNATIONAL, INC (EAT)
CIK:        0000703351
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0000703351-22-000046
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Brinker Q1 FY2023: operating loss of $19.8M vs prior-year profit; commodity inflation hits margins
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- GAAP net loss per diluted share $0.69 vs prior-year income of $0.28; adjusted loss $0.57.
- Company sales rose 9.3% to $946.1M, but operating margin fell to negative 2.1% from positive 2.9%.
- Restaurant operating margin dropped to 6.0% from 11.0%, driven by ~24% commodity cost inflation.
- Adjusted EBITDA plunged to $27.1M from $69.4M; comparable restaurant sales up 5.3% (Chili's +3.8%, Maggiano's +18.2%).
- No guidance provided; management cited chicken and beef pricing as primary cause of operating loss.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/703351/000070335122000046/0000703351-22-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/703351/000070335122000046/eat-20221102.htm
  HTML page:      https://secwatch.observer/filing/0000703351-22-000046

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