Brinker International, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 27, 2017. For the quarter, the company reported total revenue of $766,400,000 against $771,043,000 a year ago. Operating income was $54,448,000 against $61,526,000 a year ago. Income before provision for income taxes was $41,142,000 against $48,268,000 a year ago. Net income was $25,366,000 or $0.54 per diluted share against $34,637,000 or $0.69 per diluted share a year ago. Net income excluding special items was $40.6 million or $0.87 per diluted share against $35.6 million or $0.71 per diluted share a year ago. For the quarter, the company generated $43 million of free cash flow.

For the six months, the company reported total revenue of $1,505,790,000 against $1,529,535,000 a year ago. Operating income was $83,005,000 against $103,002,000 a year ago. Income before provision for income taxes was $56,291,000 against $81,234,000 a year ago. Net income was $35,243,000 or $0.74 per diluted share against $57,870,000 or $1.09 per diluted share a year ago. Net cash provided by operating activities was $119,709,000 against $142,824,000 a year ago. Payments for property and equipment were $48,559,000 against $60,055,000 a year ago. Free cash flow - non-GAAP was $71.1 million.

The Tax Act will have a material impact on the Company's effective tax rate for fiscal 2018. The company's earnings per share will increase this fiscal year as a result of the tax legislation. As such, the company is increasing its fiscal year earnings per share guidance range to be $3.42 to $3.52, up from the original guidance range of $3.25 to $3.35. Previously, the company expected the effective income tax rate excluding the impact of special items to be approximately 27% to 29% for fiscal 2018. The Company's effective tax rate excluding the impact of special items and the revaluation of the deferred tax accounts is now expected to be approximately 20% to 22%. The Company believes providing estimated fiscal 2018 earnings per diluted share guidance provides investors the appropriate insight into the Company's ongoing operating performance.