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Dec 29, 2019
Bloomin' Brands Q4 2019 Earnings Report
Bloomin' Brands reported a strong Q4 2019 with diluted EPS of $0.32 and adjusted diluted EPS of $0.32. Comparable restaurant sales increased in the U.S. and Brazil. The company provided a 2020 financial outlook and doubled its annual dividend.
Key Takeaways
Bloomin' Brands announced strong Q4 2019 results, with diluted EPS and adjusted diluted EPS both at $0.32. The company saw comparable restaurant sales growth in both the U.S. and Brazil. Looking ahead, Bloomin' Brands provided a 2020 financial outlook and announced a doubling of its annual dividend from $0.40 to $0.80.
Comparable restaurant sales increased 2.7% at U.S. Outback Steakhouse.
Comparable restaurant sales increased 4.9% for Outback Steakhouse in Brazil.
Opened seven new restaurants, including five international locations.
Company is exploring strategic alternatives to maximize shareholder value and implementing transformational initiatives to enhance performance.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company provided its expectations for the fiscal year 2020, including GAAP diluted earnings per share of $1.63 to $1.68 and adjusted diluted earnings per share of $1.85 to $1.90.
Positive Outlook
- GAAP diluted earnings per share is expected to be $1.63 to $1.68.
- Adjusted diluted earnings per share is expected to be $1.85 to $1.90.
- GAAP operating income margin is expected to be 4.9% to 5.0%.
- Adjusted operating income margin is expected to be 5.5% to 5.6%.
- Combined U.S. comparable restaurant sales are expected to grow by 1.0% to 1.5%.
Challenges Ahead
- Commodity inflation is expected to be approximately 2%.
- Capital expenditures are projected to be $175M - $190M.
- The number of new system-wide restaurants is expected to be approximately 25.
- GAAP effective income tax rate is expected to be 9% to 10%.
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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