Why Brinker International Stock Jumped 15.9% at the Open Today

Shares of Brinker International (NYSE: EAT), which owns the Chili's and Maggiano's Little Italy restaurant concepts, rose a quick 15.9% when trading got underway on Feb. 2. About an hour into Wall Street's day the stock was still up by 12.5%. The company's fiscal second-quarter 2022 earnings update was the big story.

Brinker's fiscal second-quarter 2022 sales came in at $904.5 million, up a tad over 21% from the $746.2 million brought in during the same quarter of the prior fiscal year. Both the Chili's and Maggiano's nameplates benefited from increasing in-person dining, though falling takeout orders constrained the benefit some. The top line here was basically in line with analyst expectations, so the sales result wasn't likely the big story today.

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Source Fool.com