Business
Bloomin’ Brands Announces 2022 Q2 Financial Results
Q2 Diluted EPS of $(0.72) and Adjusted Diluted EPS of $0.68 Reiterates Full Year Adjusted Profit and EPS Expectations Raises Full Year Guidance for Total
About this update from Bloomin' Brands, Inc.
[{"type":"text","content":"\nQ2 Diluted EPS of $(0.72) and Adjusted Diluted EPS of $0.68\n\nReiterates Full Year Adjusted Profit and EPS Expectations\n\nRaises Full Year Guidance for Total Revenues\n\nDeclares Quarterly Cash Dividend of $0.14 per share\n\n TAMPA, Fla.--(BUSINESS WIRE)--\nBloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the second quarter 2022 (“Q2 2022”) compared to the second quarter 2021 (“Q2 2021”).\n\nCEO Comments\n\n“We delivered another solid quarter of results that highlights the strength of our portfolio,” said David Deno, CEO. “Importantly, we achieved this performance despite increased inflationary headwinds and a softening macro environment in June. The ability to leverage our leading off-premises business, capitalize on growing digital capabilities, and improve operational efficiencies has enabled us to deliver on our commitments. We remain focused on executing against our strategy to elevate the guest experience while driving sustainable sales and profits to thrive in this challenging environment.”\n\nDiluted EPS and Adjusted Diluted EPS\n\nThe following table reconciles Diluted (loss) earnings per share to Adjusted diluted earnings per share for the periods indicated (unaudited):\n\n\n\n \n\n\n\nQ2\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nCHANGE\n\n\n\n\n\nDiluted (loss) earnings per share\n\n\n\n$\n\n\n\n(0.72\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n0.75\n\n\n\n \n\n\n\n$\n\n\n\n(1.47\n\n\n\n)\n\n\n\n\n\nAdjustments (1)\n\n\n\n \n\n\n\n1.40\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n0.06\n\n\n\n \n\n\n\n \n\n\n\n1.34\n\n\n\n \n\n\n\n\n\nAdjusted diluted earnings per share (1)\n\n\n\n$\n\n\n\n0.68\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.81\n\n\n\n \n\n\n\n$\n\n\n\n(0.13\n\n\n\n)\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n___________________\n(1) Adjustments for Q2 2022 primarily relate to the repurchase of $125 million of our outstanding convertible notes (the “2025 Notes”), as well as the settlements of the related convertible senior note hedges and warrants (the “2025 Notes Partial Repurchase”). See Non-GAAP Measures later in this release.\n\n\n\n\n\n\n\nSecond Quarter Financial Results\n\n\n\n(dollars in millions, unaudited)\n\n\n\nQ2 2022\n\n\n\n \n\n\n\nQ2 2021\n\n\n\n \n\n\n\nCHANGE\n\n\n\n\n\nTotal revenues\n\n\n\n$\n\n\n\n1,125.2\n\n\n\n \n\n\n\n \n\n\n\n$\...