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Mar 28, 2021
Bloomin' Brands Q1 2021 Earnings Report
Bloomin' Brands reported a strong start to the year with sales growth, margin improvement, and increased cash flow, driven by investments in off-premises sales.
Key Takeaways
Bloomin' Brands announced strong Q1 2021 financial results, with diluted EPS of $0.63 and adjusted diluted EPS of $0.72. The company saw comparable restaurant sales growth of 4.1% at Outback Steakhouse and 3.3% combined in the U.S. Digital revenue increased by 147% compared to 2020, and sales trends strengthened in the second quarter to date.
Q1 Diluted EPS was $0.63, and Adjusted Diluted EPS was $0.72.
Outback Steakhouse saw a comparable restaurant sales growth of 4.1% in Q1.
Combined U.S. comparable restaurant sales grew by 3.3% in Q1.
U.S. Digital Revenue increased 147% versus 2020.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects continuing momentum in U.S. sales trends, achieving ongoing operating efficiencies and the impact of restrictions on in-restaurant dining room capacity on Brazil sales and profits.
Positive Outlook
- Continuing momentum in U.S. sales trends
- Achieving ongoing operating efficiencies
- Labor benefits from simplification efforts
- Waste reduction
- Lower advertising
Challenges Ahead
- Impact of restrictions on in-restaurant dining room capacity on Brazil sales
- Impact of restrictions on in-restaurant dining room capacity on Brazil profits
- Uncertainties related to the COVID-19 pandemic
- The inability of workers to work due to illness, quarantine, or government mandates
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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