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Bloomin' Brands (BLMN) Reports In-Line Q3 EPS; U.S. Comps Fell 0.7%

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October 28, 2016 7:04 AM EDT

Bloomin' Brands (NASDAQ: BLMN) reported Q3 EPS of $0.20, in-line with the analyst estimate of $0.20. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $1.01 billion.

Third Quarter Comparable Restaurant Sales

THIRTEEN WEEKS ENDED SEPTEMBER 25, 2016

COMPANY-OWNED

Comparable restaurant sales (stores open 18 months or more) (1) (2):

U.S.

Outback Steakhouse

(0.7)%

Carrabba's Italian Grill

(2.1)%

Bonefish Grill

1.7%

Fleming's Prime Steakhouse & Wine Bar

(1.9)%

Combined U.S.

(0.7)%

International

Outback Steakhouse - Brazil

7.3%

_________________

(1)

Comparable restaurant sales exclude the effect of fluctuations in foreign currency rates.

(2)

Relocated international restaurants closed more than 30 days and relocated U.S. restaurants closed more than 60 days are excluded from comparable restaurant sales until at least 18 months after reopening.

GUIDANCE:

Bloomin' Brands sees FY2016 EPS of $1.30-$1.35, versus the consensus of $1.34.

Updated 2016 financial outlook as follows:

  • U.S. comparable restaurant sales guidance of -1.0% to -1.5%;
  • GAAP diluted earnings per share of $0.70 to $0.75 and adjusted diluted earnings per share of $1.30 to $1.35;
  • See Fiscal 2016 Financial Outlook later in this release for additional detail.

For earnings history and earnings-related data on Bloomin' Brands (BLMN) click here.


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