NASDAQ$BLMN
Bloomin Brands Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported strong earnings per share growth.
Bloomin' Brands reported Q3 2023 financial results with a diluted EPS of $0.45, up 32% from Q3 2022, and an adjusted diluted EPS of $0.44, up 26% from Q3 2022. The company updated its 2023 guidance for U.S. comparable restaurant sales and EPS, driven by a reduction in traffic assumptions.
- Total revenues increased primarily due to Brazil value added tax exemptions, foreign currency translation effects, and the net impact of restaurant openings and closures.
- GAAP operating income margin improved from Q3 2022 primarily due to an increase in restaurant-level operating margin and a lease termination gain, partially offset by higher depreciation expense.
- Restaurant-level operating margin improved from Q3 2022 primarily due to an increase in average check per person, cost-saving and productivity initiatives, and the benefit of Brazil value added tax exemptions, partially offset by labor, operating expense, commodity inflation, and higher advertising expense.
- On October 17, 2023, the Board of Directors declared a quarterly cash dividend of $0.24 per share, payable on November 29, 2023.
Headline financials
Revenue & EPS history
Bloomin' Brands · Revenue · Quarterly
$1.08B
Revenue by segment
Bloomin' Brands · $1.08B total across 2 segments · Q3 2023
- Restaurant sales$1.06B+2.3%98.6%
- Franchise and other$15.4M+0.2%1.4%
Forward guidance
The company provided financial outlook for Q4 2023.
Tailwinds
- U.S. comparable restaurant sales are expected to be flat to 1%.
- GAAP diluted earnings per share are projected to be $0.60 to $0.69.
- Adjusted diluted earnings per share are anticipated to be $0.64 to $0.74.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+1.2%
Avg return
Earnings day
+0.1%
Avg return
5 days after
-1.2%
Avg return
30 days after
58%
35 / 60 earnings
Positive
+17.3%
Q3 2014
Best reaction
-19.3%
Q2 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.1% | +2.3% | -10.5% | |
| Q4 2025 | -2.9% | +7.7% | -10.4% | |
| Q3 2025 | +5.1% | -7.1% | -2.0% | |
| Q1 2025 | -8.4% | +11.1% | -4.4% | |
| Q4 2024 | -16.8% | -29.1% | -37.7% | |
| Q3 2024 | -18.0% | -19.2% | -23.2% | |
| Q2 2024 | -7.3% | -14.5% | -7.4% | |
| Q1 2024 | -4.3% | -7.7% | -19.4% | |
| Q4 2023 | +4.8% | +4.1% | +2.7% | |
| Q3 2023 | -1.9% | -3.4% | +2.1% | |
| Q2 2023 | -5.4% | -6.9% | +4.4% | |
| Q1 2023 | +4.7% | +4.4% | +5.4% | |
| Q4 2022 | +10.5% | +12.9% | +2.4% | |
| Q3 2022 | +6.5% | +2.9% | +1.2% | |
| Q2 2022 | +3.6% | +7.5% | +8.1% | |
| Q1 2022 | +4.9% | +4.3% | -2.0% | |
| Q4 2021 | +8.6% | +6.6% | -3.0% | |
| Q3 2021 | -5.1% | -2.3% | -17.1% | |
| Q2 2021 | +1.1% | +1.5% | +9.8% | |
| Q1 2021 | +9.7% | +7.2% | +2.6% | |
| Q4 2020 | +10.5% | +13.7% | +26.3% | |
| Q3 2020 | -14.1% | -20.8% | -3.7% | |
| Q2 2020 | +7.5% | +10.8% | +13.8% | |
| Q1 2020 | +15.5% | -7.2% | +38.9% | |
| Q4 2019 | +7.0% | +8.9% | -72.6% | |
| Q3 2019 | +10.6% | +9.9% | +7.4% | |
| Q2 2019 | -3.8% | -5.1% | +1.2% | |
| Q1 2019 | +4.6% | +0.3% | -6.4% | |
| Q4 2018 | +12.2% | +10.1% | +5.9% | |
| Q3 2018 | +8.0% | +11.1% | +10.5% | |
| Q2 2018 | -1.1% | -7.3% | -1.1% | |
| Q1 2018 | +2.7% | +4.4% | -8.9% | |
| Q4 2017 | +9.5% | +6.5% | +8.2% | |
| Q3 2017 | -2.1% | -2.1% | +23.9% | |
| Q2 2017 | -11.7% | -16.1% | -16.3% | |
| Q1 2017 | +6.3% | +10.6% | +3.1% | |
| Q4 2016 | +5.1% | -0.2% | +3.9% | |
| Q3 2016 | +2.2% | +1.1% | +16.2% | |
| Q2 2016 | -5.2% | -5.3% | +1.4% | |
| Q1 2016 | +9.9% | — | — | |
| Q4 2015 | -9.5% | — | — | |
| Q3 2015 | -2.4% | — | — | |
| Q2 2015 | +0.8% | — | — | |
| Q1 2015 | -7.0% | — | — | |
| Q4 2014 | -0.2% | — | — | |
| Q1 2012 | +2.3% | — | — | |
| Q3 2014 | +17.3% | — | — | |
| Q2 2014 | -19.3% | — | — | |
| Q1 2014 | +0.8% | — | — | |
| Q4 2013 | -1.8% | — | — | |
| Q3 2013 | -4.1% | — | — | |
| Q2 2013 | +6.3% | — | — | |
| Q1 2013 | -3.6% | — | — | |
| Q4 2010 | +2.1% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q4 2012 | -5.9% | — | — | |
| Q3 2012 | +10.0% | — | — | |
| Q2 2011 | +7.1% | — | — | |
| Q4 2011 | +7.1% | — | — | |
| Q2 2012 | +6.8% | — | — | |
| Q3 2011 | — | — | — |
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