Bloomin' Brands (BLMN) reported earnings on Thur 22 Feb 2018 (b/o)

** charts after earnings **

 

Bloomin' Brands beats by $0.02, beats on revs; guides FY18 EPS above consensus; Combined U.S. comparable restaurant sales were up 3.3% with traffic up 1.8% 

• Reports Q4 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.39; revenues rose 8.3% year/year to $1.09 bln vs the $1.05 bln Capital IQ Consensus.
  • Comparable restaurant sales were up 4.7% at U.S. Outback Steakhouse with traffic up 4.3%.
  • Combined U.S. comparable restaurant sales were up 3.3% with traffic up 1.8%.
  • Comparable restaurant sales were up 4.9% for Outback Steakhouse in Brazil. 
  • Opened seven new restaurants, including four in international markets.
• Co issues upside guidance for FY18, sees EPS of $1.38-1.45, excluding non-recurring items, vs. $1.40 Capital IQ Consensus Estimate.
• "By all measures the fourth quarter was an excellent finish to 2017 for Bloomin' Brands," said Liz Smith, CEO. "Outback's Q4 sales and traffic performance were well ahead of the industry, and reflect the ongoing impact of our investments in the customer experience. We are pleased with how our brands are performing so far in early 2018, particularly at Outback where momentum continues."