Brinker International dramatically accelerated its share repurchase activity during fiscal 2026 as stronger operating cash flow from Chili’s provided additional capital for shareholder returns.
Net cash provided by operating activities reached $789.4 million for the year, up from $679 million in fiscal 2025. At the same time, purchases of treasury stock increased nearly fivefold to $443.9 million from $90.2 million.
The aggressive repurchases occurred during a period when Brinker’s restaurant count was relatively stable. The company ended fiscal 2026 with 1,635 company-owned and franchised restaurants compared with 1,628 a year earlier. Company-owned locations increased by only one to 1,163, while franchise locations increased by six to 472.
The underlying earnings engine continues to be Chili’s. The brand completed its fifth consecutive year of same-store sales growth, producing a cumulative 71% increase over that period. Chili’s comparable restaurant sales increased 9.2% during fiscal 2026.
Brinker generated fiscal 2026 net income of $487 million and adjusted EBITDA of $847.2 million. The company also redeemed $350 million of 8.25% notes after fiscal year-end, funding the payoff through its revolving credit facility.
KEY QUOTES:
“Q4 2026 completes five consecutive years of Chili’s same-store sales growth, delivering an unprecedented 71% cumulative increase over that time.”
“Our strong brand relevance, industry-leading value proposition, streamlined operations, and significant restaurant investments have created a competitive moat that positions Chili’s to deliver sustainable, profitable growth.”
Kevin Hochman, President and CEO of Brinker International
