Chili’s Parent’s Stock Plunges After Strong Earnings. Economic Uncertainty Could Be the Culprit.
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Brinker International stock tumbled 14% on Tuesday even as the parent company of Chili’s restaurant reported better-than-expected third-quarter earnings and revenue. It could be a sign of the market’s increasing uneasiness about consumer spending trends. For the fiscal third quarter ended in March, Brinker posted adjusted earnings per share of $2.66, up 115% from the same quarter a year ago and beating analyst estimates of $2.49.
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