Business
Bloomin’ Brands Announces Q3 2023 Financial Results
Q3 Diluted EPS of $0.45, up 32% from Q3 2022 Q3 Adjusted Diluted EPS of $0.44, up 26% from Q3 2022 Updates 2023 Guidance for U.S. Comparable Restaurant Sales
About this update from Bloomin' Brands, Inc.
[{"type":"text","content":"\nQ3 Diluted EPS of $0.45, up 32% from Q3 2022\nQ3 Adjusted Diluted EPS of $0.44, up 26% from Q3 2022\nUpdates 2023 Guidance for U.S. Comparable Restaurant Sales and EPS\n\n\n TAMPA, Fla.--(BUSINESS WIRE)--\nBloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the third quarter 2023 (“Q3 2023”) compared to the third quarter 2022 (“Q3 2022”).\n\n\nCEO Comments\n“We saw strong earnings per share growth in the quarter,” said David Deno, CEO. “We remain focused on driving traffic and maintaining margins as we navigate the near-term sales environment. We are confident that the investments we made in food, service and technology will elevate the guest experience and lead to sustainable, long-term sales and profit growth.”\n\n\nDiluted EPS and Adjusted Diluted EPS\nThe following table reconciles Diluted earnings per share to Adjusted diluted earnings per share for the periods indicated (unaudited):\n\n\n\n\n \n\n\n\n\n\n\nQ3\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n \n\n \n\n\n\n\n\n\nCHANGE\n\n\n\n\n\n\n\n\nDiluted earnings per share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.45\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.34\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.11\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjustments (1)\n\n\n\n\n\n\n \n\n\n\n\n\n\n(0.01\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\n0.01\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(0.02\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nAdjusted diluted earnings per share (1)\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.44\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.35\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.09\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n___________________\n\n\n\n\n\n\n\n\n(1) See non-GAAP Measures later in this release. Also see Tables Four, Six and Seven for details regarding the nature of diluted earnings per share adjustments for the periods presented.\n\n\n\n\n\n\n\nThird Quarter Financial Results\n\n\n\n\n(dollars in millions, unaudited)\n\n\n\n\n\n\nQ3 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ3 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\nCHANGE\n\n\n\n\n\n\n\n\nTotal revenues\n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,079.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n...