Bloomin’ Brands Q2 EPS Meets Views on Shy Revenues

Bloomin’ Brands reported Wednesday financial results for Q2, with earnings that matched analysts’ expectations on lower revenues that just missed forecasts; it also reaffirmed its guidance for fiscal 2017 in line with forecasts. For the quarter ended June 25, the owner and operator of casual, upscale casual and fine dining restaurants posted adjusted earnings of $0.28 per share, compared with the prior-year period’s $0.29 per share. Analysts polled by Capital IQ were expecting EPS of $0.28 EPS.

Revenue was $1.03 billion, down from $1.08 billion in the same quarter last year. The Street view was for revenue of $1.04 billion. Combined U.S. comparable restaurant sales were down 0.3%. The company continues to expect fiscal 2017 EPS of $1.40 – $1.47 versus the Street view of $1.43 EPS.