1. Like Darden Restaurants (Olive Garden, LongHorn Steakhouse) but for Chili's Grill & Bar and Maggiano's Little Italy.

2. A sit-down version of Yum! Brands (KFC, Pizza Hut) for casual dining chains like Chili's.

• Chili's Grill & Bar Restaurants: Offers American-style casual dining, featuring a diverse menu of burgers, ribs, fajitas, and alcoholic beverages in a relaxed environment.
• Maggiano's Little Italy Restaurants: Provides classic Italian-American cuisine, served family-style or in individual portions, along with a full bar in an upscale casual dining setting.

Brinker International (symbol: EAT) is a restaurant company that primarily sells its products and services directly to individual consumers rather than to other businesses. Therefore, it does not have major corporate customers.

Brinker International serves the following categories of individual customers:

• Casual Diners: This broad category includes individuals, families, and groups of friends looking for a casual dining experience for everyday meals, whether for lunch or dinner. This segment is a core customer base for brands like Chili's Grill & Bar.
• Special Occasion & Group Diners: Especially for Maggiano's Little Italy, customers often visit for special occasions such as birthdays, anniversaries, or family celebrations. The menu and ambiance cater to larger groups and those seeking a more upscale-casual dining experience.
• Convenience/Off-Premise Diners: This category encompasses individuals and groups who choose to enjoy Brinker International's food outside the traditional dine-in setting. This includes customers utilizing takeout, curbside pickup, and delivery services for meals at home, work, or other locations, prioritizing convenience.

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Kevin Hochman Chief Executive Officer and President

Kevin Hochman assumed the role of Chief Executive Officer and President of Brinker International in 2022. Before joining Brinker, he spent over eight years at Yum! Brands, from 2014 to 2022, holding multiple leadership positions. He served as the U.S. President of KFC for more than five years and concurrently as the President of the Pizza Hut Brand from 2020 to 2022. During his tenure at KFC, he led a brand turnaround that resulted in eight consecutive years of same-store sales growth for the U.S. brand. Prior to his time in the restaurant industry, Hochman worked at Procter & Gamble for over 19 years, where he held various finance, brand management, and marketing roles, including leading the North American cosmetics business and the Old Spice turnaround campaign. He was recognized as Forbes' No. 2 most influential CMO in the world during his time as KFC Chief Marketing Officer.

Mika Ware Executive Vice President and Chief Financial Officer

Mika Ware was appointed Executive Vice President and Chief Financial Officer of Brinker International in June 2024. She has a long history with the company, having served as Vice President of Finance and Investor Relations from October 2017 to June 2024, and Vice President of Chili's Grill & Bar Finance from October 2000 to October 2017. Ms. Ware began her career at Brinker in June 1988 as a Chili's host and has held various roles in restaurant operations, accounting, treasury, and finance within the company.

Aaron White Executive Vice President, Chief Operating Officer and Chief People Officer

Aaron White became the Executive Vice President, Chief Operating Officer and Chief People Officer of Brinker International in 2025. She previously served as the Co-Chief Operating Officer of Chili's and has held several other positions within Brinker International, including Vice President of Operations Services.

Chris Caldwell Senior Vice President and Chief Information Officer

Chris Caldwell joined Brinker International as Senior Vice President and Chief Information Officer in February 2024. Before his role at Brinker, he spent 27 years leading technology teams at Yum! Brands, most recently serving for a decade as Chief Technology Officer at KFC.

George Felix Senior Vice President and Chief Marketing Officer

George Felix joined Brinker International in July 2022 as Senior Vice President and Chief Marketing Officer. His previous experience includes serving as Chief Marketing Officer of Tinder and, prior to that, as Chief Marketing Officer of Pizza Hut U.S.

• Rising Labor and Commodity Costs / Margin Pressures

  Brinker International faces significant challenges from increasing labor costs, including potential minimum wage increases and broader labor shortages within the restaurant industry. These rising costs, coupled with fluctuating commodity prices for food and beverages, can put considerable pressure on the company's profit margins and overall profitability. The company's ability to offset these costs through pricing strategies without alienating price-sensitive customers is a delicate balance.

• Intense Competition and Changing Consumer Preferences

  The casual dining sector in which Brinker International operates is highly competitive. The company vies for market share with numerous established restaurant groups and rapidly expanding fast-casual concepts. Furthermore, shifts in consumer preferences towards fast-casual dining, healthier options, and digital ordering and delivery services pose a threat to traditional sit-down restaurant models like Brinker's. Adapting to these evolving trends and differentiating its brands are crucial for retaining and growing its customer base.

• Economic Downturns and Consumer Spending

  Economic instability and uncertainties in the broader economic environment can significantly reduce consumer discretionary spending on dining out, which directly and negatively impacts Brinker International's sales and financial performance. A weakening consumer environment could cause price hikes to backfire, potentially leading to a loss of traffic.

• The accelerating consumer shift towards fast-casual dining experiences, characterized by an emphasis on fresh ingredients, customization, quicker service, and often a perception of healthier options, directly competes with and siphons traffic from traditional casual dining. The rapid expansion and innovation from concepts like Cava, Sweetgreen, and numerous regional players demonstrate an intensifying trend that challenges the core value proposition and market share of Brinker International's brands.
• The proliferation of independent virtual restaurant brands and ghost kitchens, which operate with lower overheads and greater agility to adapt to culinary trends, intensifies competition in the crucial off-premise and delivery segments. This growing ecosystem of delivery-first competitors, beyond traditional restaurant players, could dilute Brinker's delivery market share and brand visibility on third-party platforms.

Brinker International (symbol: EAT) operates primarily within the casual dining restaurant market with its main brands, Chili's Grill & Bar and Maggiano's Little Italy.

The global casual dining market was valued at approximately USD 333.02 billion in 2025 and is projected to reach USD 575.5 billion by 2035, demonstrating a compound annual growth rate (CAGR) of 5.5% from 2025 to 2035. North America contributes 28% of the global casual dining market share.

Brinker International (symbol: EAT) is expected to drive future revenue growth over the next 2-3 years through a multi-faceted strategy focusing on enhancing customer experience, operational efficiency, and strategic expansion.

Here are 3-5 expected drivers of future revenue growth:

1. Sustained Traffic Growth and Enhanced Guest Experience: Brinker International, particularly its Chili's brand, is prioritizing and achieving significant traffic growth through effective marketing campaigns, value-driven promotions, and continuous improvements to the guest experience. Initiatives such as the successful "Big Smasher" and "Triple Dipper" promotions have contributed to increased guest visits. The company is also investing in operational processes, facility improvements, and labor resources to ensure a better dining experience, which is crucial for repeat visits and sustained traffic growth.
2. Menu Innovation and Strategic Pricing: The company is focused on menu management, including strategic adjustments to offer both lower and premium price points, often referred to as a "barbell pricing strategy." Menu simplification (e.g., reducing Chili's menu by 22%) and new product introductions aim to appeal to a broader market segment and improve customer mix, thereby contributing to revenue growth. While prioritizing traffic over aggressive price hikes, strategic menu pricing remains a component of overall revenue generation, particularly at Maggiano's to offset traffic declines.
3. Operational Efficiencies and Technology Investments: Investments in restaurant technologies, such as pay-at-the-table and handheld ordering devices, are intended to reduce operating errors and enhance efficiency, ultimately improving the guest experience. Furthermore, the company is embracing kitchen automation with new technologies like automated grills and rapid-cooking ovens to streamline food preparation, ensure consistent quality, and optimize labor costs, contributing to more efficient operations that support revenue growth.
4. Restaurant Remodels and Targeted Unit Expansion: Brinker International has plans for restaurant reimaging, particularly for Chili's, with an evaluation phase currently underway and a goal of fully rolling out programs during fiscal 2027 to return to positive net new unit growth. There are also expansion plans for Maggiano's and consistent growth in Chili's units, indicating a focused approach towards both brand growth and expanding market presence.

Share Repurchases

• Brinker International's Board of Directors approved a $300.0 million share repurchase program in August 2021.
• In fiscal year 2025, the company repurchased 1.0 million shares of common stock for $76.0 million.
• In August 2025, the Board authorized an additional $400.0 million, increasing the total available authority under the share repurchase program to $507.0 million.

Share Issuance

• In the first quarter of fiscal 2026, the effective income tax rate was lower than the statutory rate, primarily due to excess tax benefits from stock-based compensation of $11.7 million, indicating ongoing share-based awards.
• For fiscal 2026, weighted average shares are expected to be in the range of 45.0 million to 46.0 million.

Capital Expenditures

• Capital expenditures for fiscal year 2025 peaked at $265.3 million.
• For fiscal year 2026, anticipated capital expenditures are projected to be between $270 million and $290 million.
• The primary focus of capital expenditures includes restaurant reimaging and expansion, aiming to refresh 10% of the restaurant fleet annually and accelerate new unit growth, along with investments in technology, labor, and kitchen equipment.