Bloomin Brands (NASDAQ: BLMN) reported Q2 EPS of $0.27, $0.02 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.09 billion.

Bloomin Brands sees FY2014 EPS of $1.05-$1.10, versus prior guidance of 'at least' $1.21 and the consensus of $1.22.

"In the second quarter we maintained our outperformance versus Knapp with a 250 basis point positive traffic gap; however, dinner traffic did not recover as expected following the weather events of the first quarter," said Elizabeth Smith, CEO. "We have responded with marketing innovation in the second half that is focused on dinner. In addition, in Korea, we continue to face significant macro issues and an increasingly competitive environment. Given these challenges, our second quarter results were softer than expected and we have revised our 2014 total year outlook down from our original estimates. Adjusted diluted earnings per share are now expected to be between $1.05 to $1.10 while domestic comp sales are expected to be 0.0% to 1.0%."

Smith continued, "While 2014 is challenging, we remain confident in our long term growth prospects and our portfolio's unique opportunities. We are excited to announce our plans to expand Carrabba's to Brazil with our first opening expected in the first half of 2015. This represents the next step in our International expansion efforts. We will continue to pursue International opportunities for Outback, particularly in high growth areas such as Brazil and China."

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