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What's in Store for Bloomin' Brands (BLMN) in Q1 Earnings?
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Bloomin’ Brands, Inc. (BLMN - Free Report) is scheduled to report first-quarter fiscal 2023 results on Apr 28, before market open. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 7.9%.
Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has moved 1.1% north to 89 cents over the past seven days. The estimated figure indicates an improvement of 11.3% year over year. The consensus mark for revenues is pegged at $1.22 billion, suggesting 6.7% growth from the year-ago reported figure of $1.14 billion.
Factors to Consider
The company’s quarterly earnings are likely to have driven by robust comparable sales, off-premise sales, new food offerings and increase in average check. Implementation of a new online ordering system and mobile app to drive its digital business is likely to aid the results.
For first-quarter fiscal 2023, the Zacks Consensus Estimate for Restaurant sales is pegged at $1,196 million, indicating a rise of 6.4% from the prior-year quarter. The consensus estimate for Franchise and other revenues is pegged at $16.6 million, indicating a decline of 2% from the year-ago quarter.
However, high commodity and labor inflation might have hurt the company’s margin the quarter.
Our proven model predicts an earnings beat for Bloomin' Brands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Earnings ESP for Bloomin' Brands is +2.07%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Bloomin' Brands currently has a Zacks Rank #3.
Other Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these too have the right combination of elements to post an earnings beat this season.
Shares of Wynn Resorts have gained 50.8% in the past year. WYNN’s earnings beat estimates in two of the trailing four quarters and missed twice, the average surprise being 0.6%.
Hyatt Hotels Corporation (H - Free Report) has an Earnings ESP of +56.57% and a Zacks Rank #3.
Shares of Hyatt Hotels have increased 20.1% in the past year. H’s earnings beat estimates in each of the trailing four quarters, the average surprise being 1,380.7%.
Choice Hotels International, Inc. (CHH - Free Report) has an Earnings ESP of +7.21% and a Zacks Rank #3.
Shares of Choice Hotels have declined 11.9% in the past year. CHH’s earnings surpassed the consensus mark twice in the trailing four quarters and missed twice, the average surprise being 3.5%.
Image: Bigstock
What's in Store for Bloomin' Brands (BLMN) in Q1 Earnings?
Bloomin’ Brands, Inc. (BLMN - Free Report) is scheduled to report first-quarter fiscal 2023 results on Apr 28, before market open. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 7.9%.
Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has moved 1.1% north to 89 cents over the past seven days. The estimated figure indicates an improvement of 11.3% year over year. The consensus mark for revenues is pegged at $1.22 billion, suggesting 6.7% growth from the year-ago reported figure of $1.14 billion.
Factors to Consider
The company’s quarterly earnings are likely to have driven by robust comparable sales, off-premise sales, new food offerings and increase in average check. Implementation of a new online ordering system and mobile app to drive its digital business is likely to aid the results.
For first-quarter fiscal 2023, the Zacks Consensus Estimate for Restaurant sales is pegged at $1,196 million, indicating a rise of 6.4% from the prior-year quarter. The consensus estimate for Franchise and other revenues is pegged at $16.6 million, indicating a decline of 2% from the year-ago quarter.
However, high commodity and labor inflation might have hurt the company’s margin the quarter.
Bloomin' Brands, Inc. Price and EPS Surprise
Bloomin' Brands, Inc. price-eps-surprise | Bloomin' Brands, Inc. Quote
What Our Model Indicates
Our proven model predicts an earnings beat for Bloomin' Brands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Earnings ESP for Bloomin' Brands is +2.07%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Bloomin' Brands currently has a Zacks Rank #3.
Other Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these too have the right combination of elements to post an earnings beat this season.
Wynn Resorts, Limited (WYNN - Free Report) has an Earnings ESP of +111.38% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Wynn Resorts have gained 50.8% in the past year. WYNN’s earnings beat estimates in two of the trailing four quarters and missed twice, the average surprise being 0.6%.
Hyatt Hotels Corporation (H - Free Report) has an Earnings ESP of +56.57% and a Zacks Rank #3.
Shares of Hyatt Hotels have increased 20.1% in the past year. H’s earnings beat estimates in each of the trailing four quarters, the average surprise being 1,380.7%.
Choice Hotels International, Inc. (CHH - Free Report) has an Earnings ESP of +7.21% and a Zacks Rank #3.
Shares of Choice Hotels have declined 11.9% in the past year. CHH’s earnings surpassed the consensus mark twice in the trailing four quarters and missed twice, the average surprise being 3.5%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.