Bloomin’ Brands(BLMN)

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Bloomin’ Brands(BLMN) - 2022 Q4 - Annual Report
2023-02-21 16:00
Certain subsidiaries of the Company have been named in collective actions alleging violations of the Fair Labor Standards Act and state wage and hour laws. The Company believes its employees were properly paid and is defending these matters vigorously. During the thirteen weeks ended December 25, 2022, the Company accrued $5.9 million within Accrued and other current liabilities on its Consolidated Balance Sheet for these matters. The Company intends to defend itself in legal matters. Some of these matters ...
Bloomin’ Brands(BLMN) - 2022 Q4 - Earnings Call Transcript
2023-02-16 17:50
Bloomin' Brands, Inc. (NASDAQ:BLMN) Q4 2022 Earnings Conference Call February 16, 2023 8:15 AM ET Company Participants Mark Graff - SVP-IR David Deno - CEO Chris Meyer - EVP and CFO Conference Call Participants Jeffrey Bernstein - Barclays Alex Slagle - Jefferies Lauren Silberman - Credit Suisse John Ivankoe - JPMorgan Jeff Farmer - Gordon Haskett Jon Tower - Citigroup Dennis Geiger - USB Andrew Strelzik - BMO Capital Markets Brian Vaccaro - Raymond James Operator Greetings, and welcome to the Bloomin' Bran ...
Bloomin’ Brands(BLMN) - 2022 Q3 - Quarterly Report
2022-11-01 20:06
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 25, 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 o ...
Bloomin’ Brands(BLMN) - 2022 Q3 - Earnings Call Transcript
2022-10-28 15:47
Bloomin' Brands, Inc. (NASDAQ:BLMN) Q3 2022 Earnings Conference Call October 28, 2022 8:15 AM ET Company Participants Mark Graff - SVP-IR David Deno - CEO Chris Meyer - EVP and CFO Conference Call Participants Jeffrey Bernstein - Barclays Alex Slagle - Jefferies Lauren Silberman - Credit Suisse John Ivankoe - JPMorgan Jared Garber - Goldman Sachs Jon Tower - Citigroup Brian Vaccaro - Raymond James Brian Mullan - Deutsche Bank Andrew Strelzik - BMO Capital Markets Dennis Geiger - USB Operator Greetings, and ...
Bloomin’ Brands(BLMN) - 2022 Q2 - Quarterly Report
2022-08-02 20:06
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 26, 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 oth ...
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]