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Bloomin' Brands (BLMN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Bloomin' Brands (BLMN - Free Report) reported $1.08 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 2.3%. EPS of $0.44 for the same period compares to $0.35 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.08 billion, representing a surprise of -0.24%. The company delivered an EPS surprise of +7.32%, with the consensus EPS estimate being $0.41.
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. - Carrabba?s Italian Grill: 3% versus the six-analyst average estimate of 1.3%.
Comparable restaurant sales - U.S. - Outback Steakhouse: -1.1% versus 0.2% estimated by six analysts on average.
Comparable restaurant sales - U.S. - Combined U.S. -0.5% versus 0.3% estimated by six analysts on average.
Number of restaurants - System-wide total: 1,475 compared to the 1,495 average estimate based on six analysts.
Comparable restaurant sales - U.S. - Fleming?s Prime Steakhouse and Wine Bar: -4.1% versus the six-analyst average estimate of -1%.
Comparable restaurant sales - U.S. - Bonefish Grill: -0.5% versus the six-analyst average estimate of 0.5%.
Number of restaurants - U.S. - Fleming?s Prime Steakhouse and Wine Bar - Company-owned: 64 compared to the 65 average estimate based on four analysts.
Comparable restaurant sales - International - Outback Steakhouse - Brazil: 4.1% compared to the 4.3% average estimate based on four analysts.
Number of restaurants - U.S. - Bonefish Grill - Total: 175 versus the three-analyst average estimate of 175.
Number of restaurants - U.S. - Carrabba?s Italian Grill - Total: 218 compared to the 218 average estimate based on three analysts.
Revenues- Franchise and other revenues: $15.42 million compared to the $14.74 million average estimate based on five analysts. The reported number represents a change of +0.2% year over year.
Revenues- Restaurant sales: $1.06 billion compared to the $1.07 billion average estimate based on five analysts. The reported number represents a change of +2.3% year over year.
Shares of Bloomin' Brands have returned -0.6% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Bloomin' Brands (BLMN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Bloomin' Brands (BLMN - Free Report) reported $1.08 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 2.3%. EPS of $0.44 for the same period compares to $0.35 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.08 billion, representing a surprise of -0.24%. The company delivered an EPS surprise of +7.32%, with the consensus EPS estimate being $0.41.
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. - Carrabba?s Italian Grill: 3% versus the six-analyst average estimate of 1.3%.
- Comparable restaurant sales - U.S. - Outback Steakhouse: -1.1% versus 0.2% estimated by six analysts on average.
- Comparable restaurant sales - U.S. - Combined U.S. -0.5% versus 0.3% estimated by six analysts on average.
- Number of restaurants - System-wide total: 1,475 compared to the 1,495 average estimate based on six analysts.
- Comparable restaurant sales - U.S. - Fleming?s Prime Steakhouse and Wine Bar: -4.1% versus the six-analyst average estimate of -1%.
- Comparable restaurant sales - U.S. - Bonefish Grill: -0.5% versus the six-analyst average estimate of 0.5%.
- Number of restaurants - U.S. - Fleming?s Prime Steakhouse and Wine Bar - Company-owned: 64 compared to the 65 average estimate based on four analysts.
- Comparable restaurant sales - International - Outback Steakhouse - Brazil: 4.1% compared to the 4.3% average estimate based on four analysts.
- Number of restaurants - U.S. - Bonefish Grill - Total: 175 versus the three-analyst average estimate of 175.
- Number of restaurants - U.S. - Carrabba?s Italian Grill - Total: 218 compared to the 218 average estimate based on three analysts.
- Revenues- Franchise and other revenues: $15.42 million compared to the $14.74 million average estimate based on five analysts. The reported number represents a change of +0.2% year over year.
- Revenues- Restaurant sales: $1.06 billion compared to the $1.07 billion average estimate based on five analysts. The reported number represents a change of +2.3% year over year.
View all Key Company Metrics for Bloomin' Brands here>>>Shares of Bloomin' Brands have returned -0.6% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.