Brinker 1Q Profit Rises as Chili's Shrugs Off Restaurant Slowdown
Chili's owner Brinker International reported higher first-quarter profit and sales despite broader industry concern about consumers pulling back from restaurants due to higher prices.
"Chili's continues to deliver industry leading results...against a tough macro environment," said Chief Executive Kevin Hochman.
The restaurant company posted net income of $99.5 million, or $2.17 a share, up from $38.5 million, or 84 cents a share, the year prior.
Adjusted earnings were $1.93 a share. Analysts had expected $1.77, according to FactSet.
Total revenues rose to $1.35 billion from $1.14 billion. Wall Street had expected $1.33 billion...
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