Bloomin' Brands (BLMN) Reports Q2 Earnings: What Key Metrics Have to Say
Bloomin' Brands (BLMN) reported $1.15 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.5%. EPS of $0.74 for the same period compares to $0.68 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.15 billion, representing a surprise of +0.12%. The company delivered an EPS surprise of +17.46%, with the consensus EPS estimate being $0.63.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Bloomin' Brands performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable restaurant sales - U.S. - Combined U.S. 0.8% compared to the 0.99% average estimate based on six analysts.
Comparable restaurant sales - U.S. - Bonefish Grill: 0.5% versus 2.37% estimated by six analysts on average.
Number of restaurants - System-wide total: 1471 versus the six-analyst average estimate of 1503.17.
Comparable restaurant sales - U.S. - Fleming?s Prime Steakhouse and Wine Bar: -2.5% versus -0.14% estimated by six analysts on average.
Comparable restaurant sales - U.S. - Carrabba?s Italian Grill: 3.5% versus 2.88% estimated by six analysts on average.
Comparable restaurant sales - U.S. - Outback Steakhouse: 0.6% versus 0.27% estimated by six analysts on average.
Number of restaurants - U.S. - Fleming?s Prime Steakhouse and Wine Bar - Company-owned: 65 versus the four-analyst average estimate of 65.
Comparable restaurant sales - International - Outback Steakhouse - Brazil: 4.1% versus 4.5% estimated by four analysts on average.
Number of restaurants - International - Franchised - Outback Steakhouse - South Korea: 90 versus 104 estimated by three analysts on average.
Number of restaurants - International - Franchised - Other: 47 versus 47.67 estimated by three analysts on average.
Revenues- Franchise and other revenues: $15.36 million versus $14.89 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
Revenues- Restaurant sales: $1.14 billion compared to the $1.13 billion average estimate based on five analysts. The reported number represents a change of +2.6% year over year.
View all Key Company Metrics for Bloomin' Brands here>>>
Shares of Bloomin' Brands have returned -1.7% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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