What To Expect From Bloomin' Brands’s (BLMN) Q3 Earnings
Restaurant company Bloomin’ Brands (NASDAQ:BLMN) will be reporting results tomorrow before market open. Here's what you need to know.
Last quarter Bloomin' Brands reported revenues of $1.15 billion, up 2.45% year on year, in line with analyst expectations. It was a strong quarter for the company, with a decent beat of analysts' earnings estimates.
Is Bloomin' Brands buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Bloomin' Brands's revenue to grow 2.48% year on year to $1.08 billion, slowing down from the 4.48% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.41 per share.
The analysts covering the company have been growing increasingly bearish about the business heading into the earnings, with revenue estimates seeing seven downward revisions over the last thirty days. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Bloomin' Brands's peers in the sit-down dining segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Red Robin's revenues decreased 3.25% year on year, beating analyst estimates by 0.69%, and BJ's reported revenues up 2.34% year on year, missing analyst estimates by 2.22%. BJ's was down 4.11%.
Read our full analysis of Red Robin's results here and BJ's's results here.
Investors in the sit-down dining segment have had steady hands going into the earnings, with the stocks down on average 0.58% over the last month. Bloomin' Brands is down 1.97% during the same time, and is heading into the earnings with analyst price target of $27.3, compared to share price of $23.4.
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The author has no position in any of the stocks mentioned.
