Bloomin' Brands (BLMN) Reports In-Line Q3 EPS

Bloomin' Brands (NASDAQ: BLMN) reported Q3 EPS of $0.57, in-line with the analyst estimate of $0.57. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $1.02 billion.

Fiscal 2021 Financial Outlook:

We are updating our 2021 financial outlook for the following items:

• Increased commodity inflation reflecting increases in protein costs, primarily chicken and seafood, as we acquired additional supply outside of our contracted terms due to higher sales volumes and strategic contract pricing to secure next year's supply; and
• Higher labor inflation from increased wage pressures, training costs, and retention efforts.

All other aspects of our previously provided financial outlook remain unchanged. See the table below for more details.

We will discuss current inflationary trends and preliminary thoughts on 2022 on our third quarter conference call.

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

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