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