Bloomin' Brands Reports Q3 Earnings Beat and Raises Full-Year Profit Outlook
Bloomin' Brands (BLMN) reported third-quarter financial results that exceeded analyst expectations, posting a Non-GAAP EPS of -$0.17, which beat estimates by $0.07. Total revenue reached $944.3 million, representing a 1.7% year-over-year increase and surpassing consensus estimates by approximately $19.2 million. The revenue growth was driven primarily by higher comparable restaurant sales and changes in gift card breakage revenue, though these gains were partially offset by the costs associated with new restaurant openings and closures. Following the strong quarterly performance, the company raised its full-year guidance for both diluted earnings per share and adjusted diluted earnings per share.
Tickers: $BLMN
Topics: comparable restaurant sales earnings beat financial guidance revenue growth