Bloomin' Brands Q3 Earnings Top Street View

Loading...
Loading...
  • Bloomin' Brands Inc BLMN reported third-quarter FY22 sales growth of 4.4% year-on-year to $1.06 billion, marginally beating the consensus of $1.05 billion.
  • Combined U.S. comparable restaurant sales grew 1.4% during the quarter, with a 2.3% rise in Outback Steakhouse and a 0.7% climb in Carrabba's Italian Grill.
  • Restaurant sales grew 4.4% Y/Y to $1 billion, while Franchise and other revenues rose 12% to $15.4 million.
  • U.S. segment revenue climbed 1.1% Y/Y to $922.5 million, and the International segment increased 36.3% Y/Y to $133.2 million.
  • Total cost and expenses for the quarter increased 0.6% Y/Y to $1 billion.
  • Restaurant-level operating margin expanded by 280 basis points to 13.1%.
  • The operating margin was 4.9%, and the operating income was $51.3 million.
  • The company held $90.7 million in cash and equivalents as of September 25, 2022. The company had a net debt of $821.7 million.
  • Adjusted EPS of $0.35 beat the analyst consensus of $0.34.
  • Dividend: The company's quarterly cash dividend of $0.14 per share will be paid on November 23, 2022, to all stockholders of record on November 9, 2022.
  • Outlook: Bloomin' Brands tightened its FY22 sales outlook to $4.436 billion - $4.466 billion from $4.40 billion - $4.45 billion, versus the consensus of $4.42 billion. It reiterated FY22 adjusted EPS guidance of $2.45 - $2.55 versus the estimate of $2.45.
  • Bloomin' sees Q4 sales of $1.115 billion - $1.145 billion versus the consensus of $1.11 billion.
  • It expects Q3 adjusted EPS of $0.63 - $0.73, against the consensus of $0.63.
  • Price Action: BLMN shares are trading higher by 4.43% at $23.55 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...