Bloomin' Brands (BLMN) Tops Q3 EPS by 1c, Revenues In-Line, Comps Up 2.9% in U.S.; Lifts FY18 EPS Outlook, Boosts FY18 U.S. Comps Guidance

Bloomin' Brands (NASDAQ: BLMN) reported Q3 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $965.02 million versus the consensus estimate of $965.16 million.

• Q3 Comparable Restaurant Sales Growth of 4.6% at Outback and 2.9% Combined U.S.
• Q3 Traffic Growth at Outback of 0.9%, 5th Consecutive Quarter of Traffic Growth
• Increases 2018 Guidance For Combined U.S. Comparable Restaurant Sales to 2.0% - 2.5%
• Increases Full Year 2018 Guidance For Adjusted Diluted EPS to $1.41 - $1.47

CEO Comments

“Our momentum continued in the third quarter, and it is clear that our investments in the customer experience are working,” said Liz Smith, CEO. “At Outback, sales and traffic continued to meaningfully out-pace the industry, and we have increased our U.S. sales guidance for the year to reflect this strong performance. We have also increased our adjusted EPS guidance for the year, and now expect adjusted earnings growth of between 18% and 23% in 2018. We are on track for a very good year at Bloomin’ Brands.”

GUIDANCE:

Bloomin' Brands sees FY2018 EPS of $1.41-$1.47, versus the consensus of $1.43.

For earnings history and earnings-related data on Bloomin' Brands (BLMN) click here.

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