Business
Bloomin’ Brands Announces 2022 Q4 Financial Results
Q4 Diluted EPS of $0.61 and Adjusted Diluted EPS of $0.68 Provides Full Year 2023 Financial Outlook Declares Quarterly Cash Dividend of $0.24 per Share, an
About this update from Bloomin' Brands, Inc.
[{"type":"text","content":"\nQ4 Diluted EPS of $0.61 and Adjusted Diluted EPS of $0.68\n\nProvides Full Year 2023 Financial Outlook\n\nDeclares Quarterly Cash Dividend of $0.24 per Share, an Increase of 71%\n\nAuthorizes New $125 Million Share Repurchase Program\n\n TAMPA, Fla.--(BUSINESS WIRE)--\nBloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the fourth quarter 2022 (“Q4 2022”) and fiscal year ended December 25, 2022 (“Fiscal Year 2022”) compared to the fourth quarter 2021 (“Q4 2021”) and fiscal year ended December 26, 2021 (“Fiscal Year 2021”).\n\nCEO Comments\n\n“We are pleased with our results in 2022 where we delivered profits and margins well above pre-pandemic levels despite significant inflation,” said David Deno, CEO. “All U.S. brands finished the year with positive comparable restaurant sales and our Brazil business achieved record levels of profits and sales. We are off to a good start to 2023 as we continue to elevate the customer experience and drive innovation across the portfolio while remaining focused on healthy top-line growth.”\n\nDiluted EPS and Adjusted Diluted EPS\n\nThe following tables reconcile Diluted earnings per share to Adjusted diluted earnings per share for the periods indicated:\n\n\n\n \n\n\n\nQ4\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nCHANGE\n\n\n\n\n\nDiluted earnings per share\n\n\n\n$\n\n\n\n0.61\n\n\n\n \n\n\n\n$\n\n\n\n0.59\n\n\n\n \n\n\n\n$\n\n\n\n0.02\n\n\n\n \n\n\n\n\n\nAdjustments (1)\n\n\n\n \n\n\n\n0.07\n\n\n\n \n\n\n\n \n\n\n\n0.01\n\n\n\n \n\n\n\n \n\n\n\n0.06\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\n0.60\n\n\n\n \n\n\n\n$\n\n\n\n0.08\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\nFISCAL YEAR\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nCHANGE\n\n\n\n\n\nDiluted earnings per share\n\n\n\n$\n\n\n\n1.03\n\n\n\n \n\n\n\n$\n\n\n\n2.00\n\n\n\n \n\n\n\n$\n\n\n\n(0.97\n\n\n\n)\n\n\n\n\n\nAdjustments (1)(2)\n\n\n\n \n\n\n\n1.49\n\n\n\n \n\n\n\n \n\n\n\n0.70\n\n\n\n \n\n\n\n \n\n\n\n0.79\n\n\n\n \n\n\n\n\n\nAdjusted diluted earnings per share (1)(2)\n\n\n\n$\n\n\n\n2.52\n\n\n\n \n\n\n\n$\n\n\n\n2.70\n\n\n\n \n\n\n\n$\n\n\n\n(0.18\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__________________...