Bloomin’ Brands(BLMN)

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Bloomin’ Brands(BLMN) - 2022 Q2 - Earnings Call Transcript
2022-07-29 17:39
Bloomin' Brands, Inc. (NASDAQ:BLMN) Q2 2022 Earnings Conference Call July 29, 2022 8:15 AM ET Company Participants Mark Graff – Senior Vice President-Investor Relations David Deno – Chief Executive Officer Chris Meyer – Executive Vice President and Chief Financial Officer Conference Call Participants Jeffrey Bernstein – Barclays Sharon Zackfia – William Blair Alex Slagle – Jefferies Lauren Silberman – Credit Suisse John Glass – Morgan Stanley John Ivankoe – JPMorgan Jeff Farmer – Gordon Haskett Jon Tower – ...
Bloomin’ Brands(BLMN) - 2022 Q1 - Quarterly Report
2022-05-03 20:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 27, 2022 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-35625 BLOOMIN' BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 20-8023465 (State or ot ...
Bloomin’ Brands(BLMN) - 2022 Q1 - Earnings Call Transcript
2022-04-29 18:19
Bloomin' Brands, Inc. (NASDAQ:BLMN) Q1 2022 Earnings Conference Call April 29, 2022 8:15 AM ET Company Participants Mark Graff - Senior Vice President of Investor Relations David Deno - Chief Executive Officer Chris Meyer - Executive Vice President & Chief Financial Officer Conference Call Participants Jeffrey Bernstein - Barclays Sharon Zackfia - William Blair Alex Slagle - Jefferies John Ivankoe - JPMorgan John Glass - Morgan Stanley Lauren Silberman - Credit Suisse Jeff Farmer - Gordon Haskett Brian Vacc ...
Bloomin’ Brands(BLMN) - 2021 Q4 - Annual Report
2022-02-23 21:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 26, 2021 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-35625 BLOOMIN' BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 20-8023465 (State or other j ...
Bloomin’ Brands(BLMN) - 2021 Q4 - Earnings Call Transcript
2022-02-18 17:02
Financial Performance - Adjusted Q4 2021 diluted earnings per share was $0.60, up 88% from $0.32 in Q4 2019 [7][27] - Total revenues in Q4 were $1.05 billion, a 2.4% increase from 2019, driven by a 5.3% increase in U.S. comparable restaurant sales [24][27] - Adjusted operating income margin was 7.8% in Q4 versus 4.2% in 2019, with adjusted restaurant level operating margin at 16.5% [27][28] - The company paid down approximately $300 million of debt in 2021, improving credit metrics below the goal of 3 times lease-adjusted leverage [10][30] Business Lines Performance - U.S. off-premises sales exceeded $1 billion in 2021, up 147% versus 2019, with profit margins approaching those of in-restaurant business [14][18] - Carrabba's saw 46% growth in catering sales in 2021 versus 2019, indicating strong performance in off-premises channels [15] - Brazil Q4 comps were up 8.5% versus 2019, reflecting strong execution and reduced COVID-related restrictions [26] Market Performance - U.S. comp sales finished up 4.5% versus 2019 and up 30.5% versus 2020 [9] - Off-premises accounted for 26% of U.S. volume in Q4, with third-party delivery growing to 11% of U.S. revenues [25] - The Southeast region continues to perform well, with improvements noted in the Midwest and Northeast [62] Company Strategy and Industry Competition - The company aims to grow in-restaurant sales by enhancing service levels and food offerings, particularly at Outback [12] - Plans to leverage operating margin gains by reducing costs and increasing sales through targeted digital advertising [16][17] - The company is focused on becoming more digitally savvy, with 70% of total U.S. off-premises sales through digital channels in 2021 [18][19] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in sustaining operating margins despite anticipated inflation, targeting a range of 7.5% to 8% for the full year [45] - The company expects commodity inflation between 11% and 13% in 2022, with labor inflation in the high single-digit range [31][35] - Management remains optimistic about revenue trends, particularly as the impact of the Omicron variant subsides [94][96] Other Important Information - The company reinstated a quarterly dividend of $0.14 per share and authorized a new $125 million share repurchase program [30] - Capital expenditures for 2022 are expected to be between $225 million and $240 million, driven by new restaurant openings and technology investments [38] Q&A Session Summary Question: Operating margins outlook for 2022 - Management expects to maintain an operating margin of 7.5% to 8% despite inflationary pressures, with traffic and mix shift being key variables [45][46] Question: Menu pricing strategy - The company implemented a 5% price increase to offset inflation, with a focus on maintaining value for consumers [49][50] Question: Growth prospects for Carrabba's - Carrabba's has shown significant growth, particularly in off-premises sales, and management is optimistic about future expansion opportunities [58][60] Question: Labor environment and retention strategies - The labor market remains competitive, but retention levels are strong, and management is focused on improving the quality of life for employees [66][99] Question: Marketing strategies for 2022 - Marketing will be adjusted based on ROI, with a focus on digital channels rather than broad-scale discounting [73][74] Question: Expansion plans in Brazil - Brazil is a key focus for growth, with strong same-store sales and unit expansion plans in place [82][84]
Bloomin’ Brands(BLMN) - 2021 Q3 - Quarterly Report
2021-11-03 20:46
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 26, 2021 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-35625 BLOOMIN' BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 20-8023465 (State o ...
Bloomin’ Brands(BLMN) - 2021 Q3 - Earnings Call Transcript
2021-11-02 21:45
Bloomin' Brands, Inc. (NASDAQ:BLMN) Q3 2021 Earnings Conference Call November 2, 2021 8:15 AM ET Company Participants Mark Graff - Senior Vice President and Investor Relations David Deno - Chief Executive Officer Chris Meyer - Executive Vice President and Chief Financial Officer Conference Call Participants Jeffrey Bernstein - Barclays Brian Mullan - Deutsche Bank Brett Levy - MKM partners John Glass - Morgan Stanley Jeff Farmer - Gordon Haskett John Ivankoe - JPMorgan Jared Garber - Goldman Sachs Brian Vac ...
Bloomin’ Brands(BLMN) - 2021 Q2 - Quarterly Report
2021-08-05 20:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 27, 2021 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-35625 BLOOMIN' BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 20-8023465 (State or oth ...
Bloomin’ Brands(BLMN) - 2021 Q2 - Earnings Call Transcript
2021-07-30 17:09
Bloomin' Brands, Inc. (NASDAQ:BLMN) Q2 2021 Earnings Conference Call July 30, 2021 8:30 AM ET Company Participants Mark Graff - SVP, IR & Finance David Deno - CEO Chris Meyer - EVP & CFO Conference Call Participants Jeff Priester - Barclays Brett Levy - MKM Partners John Ivankoe - JPMorgan Jeff Farmer - Gordon Haskett Brian Mullan - Deutsche Bank Sharon Zackfia - William Blair Brian Vaccaro - Raymond James Alex Slagle - Jefferies Lauren Silberman - Credit Suisse Karen Holthouse - Wells Fargo Operator Greeti ...
Bloomin’ Brands(BLMN) - 2021 Q1 - Quarterly Report
2021-04-30 20:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 28, 2021 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-35625 BLOOMIN' BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 20-8023465 (State or ot ...