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Sep 27, 2020
Bloomin' Brands Q3 2020 Earnings Report
Bloomin' Brands experienced strengthening sales trends, significantly outperforming industry comp sales benchmarks and generating consistent positive cash flow with an enhanced liquidity position.
Key Takeaways
Bloomin' Brands reported Q3 2020 results, showing sales and profits above expectations, with U.S. comp sales exceeding Knapp trends by over 850 basis points. The company generated positive cash flow while paying down debt through improved sales recovery and disciplined cost management.
Prioritized taking care of people and serving food in a safe environment.
Experienced consistent weekly sales momentum across the U.S. portfolio throughout the third quarter.
Off-premises business remained robust, retaining approximately 50% of incremental volume achieved during dining room closures.
Launched a new menu at Outback Steakhouse designed to reinforce steak leadership while lowering menu prices.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Company withdrew its 2020 financial guidance for the fiscal year ending December 27, 2020. 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
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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