Compared to Estimates, Bloomin' Brands (BLMN) Q3 Earnings: A Look at Key Metrics

Core Insights - Bloomin' Brands reported a revenue of $1.04 billion for Q3 2024, reflecting a year-over-year decline of 3.8% and an EPS of $0.21, down from $0.44 a year ago, with a revenue surprise of -0.75% against the Zacks Consensus Estimate of $1.05 billion and an EPS surprise of +10.53% over the consensus estimate of $0.19 [1] Financial Performance - Comparable restaurant sales for Carrabba's Italian Grill decreased by 1.5%, while Outback Steakhouse saw a decline of 1.3%, both underperforming against analyst estimates of 0.6% and -1.1% respectively [3] - Combined U.S. comparable restaurant sales fell by 1.5%, compared to an average estimate of -0.9% [3] - Bonefish Grill's comparable restaurant sales dropped by 4.1%, against an estimated decline of 2.7% [3] - Fleming's Prime Steakhouse and Wine Bar reported a growth of 1.2%, exceeding the average estimate of -0.7% [3] Restaurant Metrics - The total number of system-wide restaurants was 1,463, slightly below the average estimate of 1,474 [3] - The number of Bonefish Grill locations in the U.S. remained at 166, matching the average estimate [3] - Outback Steakhouse had 673 locations, slightly below the estimated 675 [3] - Carrabba's Italian Grill maintained 210 locations, in line with estimates [3] - Fleming's Prime Steakhouse and Wine Bar had 63 company-owned locations, just below the estimated 64 [3] Revenue Breakdown - Franchise and other revenues were reported at $13.68 million, below the average estimate of $14.20 million, marking a year-over-year decline of 11.3% [3] - Restaurant sales totaled $1.03 billion, matching the average estimate but reflecting a year-over-year decrease of 3.7% [3] Stock Performance - Bloomin' Brands shares have returned +8.2% over the past month, outperforming the Zacks S&P 500 composite's +4.9% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]