Brinker rises after forecasting annual profit above estimates

Shares of casual dining chain Brinker International EAT.N were up about 2% at $225 in premarket trading.

The company forecast annual profit above estimates, helped by continued investments in food quality, menu innovation and marketing to attract new customers.

It sees adjusted EPS in the range of $12.60 to $13.40, above estimates of $12.52, according to data compiled by LSEG.

It expects annual total revenue to be in the range of $6.15 billion to $6.27 billion, with the midpoint largely above analysts' estimates of $6.14 billion.

Fourth-quarter total revenues of $1.54 billion were slightly above analysts' estimate of $1.53 billion, helped by strong traffic.

Fourth-quarter net income rose 22.5% to $131.1 million, missing the estimate of $135.5 million.

As of the last close, the stock was up 54% year to date.