BLMN Earnings Prediction
The chart below shows how BLMN performed 10 days before and after its earnings report, based on data from the past quarters. Typically, BLMN sees a -0.15% change in stock price 10 days leading up to the earnings, and a +3.33% change 10 days following the report. On the earnings day itself, the stock moves by +1.02%. This data can give you a slight idea of what to expect for the next quarter's release.
BLMN Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
1.04B
-3.80%
-7.16%
Gross Margin
65.87%
0.18%
0.50%
Operating Margin
3.23%
-33.13%
-42.11%
Net Margin
0.73%
-82.66%
-72.45%
EPS
0.08
-82.22%
-75.00%
No Data Available
BLMN Earnings Analysis
Bloomin' Brands, Inc. Common Stock Corporation (BLMN.O) Earnings Conference Call
Positive
Cash and Liquidity Strength: 1. Strong Cash Position: Bloomin' Brands reported a total debt net of cash of $1 billion at the end of Q3, with an upsized revolver to $1.2 billion, providing additional liquidity and financial flexibility.
Share Repurchase Commitment: 2. Share Repurchase Program: Year-to-date, the company has repurchased 10.1 million shares for approximately $266 million, demonstrating a commitment to returning value to shareholders.
Quarterly Dividend Announcement: 3. Quarterly Dividend Declared: The Board declared a quarterly dividend of $0.24 per share, payable on December 11, reflecting the company's ongoing commitment to returning capital to shareholders.
Off-Premises Sales Increase: 4. Positive Off-Premises Sales Growth: Off-premises sales accounted for approximately 23% of total U.S. sales in Q3, with third-party delivery increasing to 13% of total U.S. sales, up from 12% in Q3 2023, driven by growth in catering.
Brazil Partnership Strategy: 5. Strategic Partnership in Brazil: The company announced a strategic partnership with Vinci Partners for its Brazil operations, retaining a 33% ownership stake, which is expected to simplify operations and focus on domestic growth.
Negative
Revenue Decline Analysis: 1. Declining Revenue: Total revenues in Q3 were $1 billion, down 4% from 2023, primarily due to a decline in comparable restaurant sales and the impact of restaurant openings and closures.
Decline in Comparable Sales: 2. Negative Comparable Sales: U.S. comparable restaurant sales decreased by 150 basis points, with traffic down 440 basis points, reflecting a loss of share in the steak category.
Earnings Per Share Drop: 3. Earnings Decline: Q3 GAAP diluted earnings per share were $0.08, a significant drop from $0.45 in 2023, while adjusted diluted earnings per share fell to $0.21 from $0.41 in the prior year.
Operating Margin Decline: 4. Margin Compression: Q3 adjusted operating margins decreased to 3% from 5.3% in the previous year, driven by labor wage inflation of 3.8% and higher operating expenses due to inflation.
Updated 2024 Financial Guidance: 5. Revised Guidance: The full-year 2024 guidance was updated to reflect continued industry softness, with comparable sales expected to decline by 100 to 50 basis points, and adjusted diluted earnings per share projected between $1.72 and $1.82.
BLMN FAQs
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BLMN Earning Call Sentiment
Bloomin' Brands, Inc. (BLMN) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
BLMN.O
-1.42%Positive
The earnings call reveals several challenges: declining revenues, supply chain issues, and economic factors impacting sales. Despite some positive aspects like share repurchases and dividends, financial performance is weak with lower margins and earnings. The Q&A highlighted concerns about guest experience and unclear responses on financial impacts, signaling uncertainty. While the dividend and share buybacks are positive, the overall sentiment is negative due to financial struggles and lack of clear guidance. Given the market cap, the stock is likely to react negatively, possibly in the -2% to -8% range.
