Loading...
•
Sep 26, 2021
Bloomin' Brands Q3 2021 Earnings Report
Bloomin' Brands reported strong Q3 2021 financial results with significant sales, margin, and earnings growth.
Key Takeaways
Bloomin' Brands announced strong Q3 2021 results driven by significant sales, margin, and earnings growth. Total revenues increased by 31.0% compared to Q3 2020, primarily due to higher comparable restaurant sales. Diluted EPS was $0.03, and adjusted diluted EPS was $0.57.
Q3 2021 diluted EPS was $0.03, and adjusted diluted EPS was $0.57.
Comparable restaurant sales growth was 18.3% at Outback Steakhouse and 25.5% combined in the U.S.
U.S. comparable restaurant sales increased 9.5% when compared to Q3 2019.
The company is combating inflationary pressures and remains confident in its strategy to deliver long-term goals.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects Q4 2021 total revenues of at least $1.02 billion and adjusted diluted earnings per share of at least $0.50.
Positive Outlook
- Continuing U.S. sales trends and includes a level of traditional Q4 seasonality
- Achieving ongoing operating efficiencies from simplification efforts, waste reduction and lower advertising
- Q4 Adjusted diluted earnings per share guidance of at least $0.50 represents growth of 56% versus Q4 2019.
Challenges Ahead
- Impact from Florida minimum wage increases due to legislative changes that went into effect in September, higher wage pressures and retention efforts, as well as increased commodity inflation
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
Loading earnings performance data...
Loading earnings reaction data...