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Jun 28, 2020
Bloomin' Brands Q2 2020 Earnings Report
Bloomin' Brands announced Q2 2020 financial results, revealing a decrease in total revenues primarily due to significantly lower comparable restaurant sales and the impact of COVID-19.
Key Takeaways
Bloomin' Brands reported a challenging second quarter due to the COVID-19 pandemic, with a significant drop in revenue and operating income. However, the company highlighted strengthening sales trends and positive cash flow in June, driven by off-premises sales and disciplined cost management.
Total revenues decreased by 43.4% compared to Q2 2019, primarily due to lower comparable restaurant sales.
GAAP operating loss margin was (19.3)%, a decrease of 23.6% from 4.3% in Q2 2019.
Adjusted diluted loss per share was $(0.74) compared to adjusted diluted earnings per share of $0.36 in Q2 2019.
As of July 19, 2020, 928 company-operated restaurants (approximately 92% of U.S. restaurants) have reopened with limited in-restaurant dining capacity.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Due to the current global market and economic conditions as a result of COVID-19, the Company will not provide guidance for the remainder of the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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