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Bloomin’ Brands Reports Strengthening Q1 2021 Sales Trends
Generating Strong Cash Flow with Enhanced Liquidity Position Announces 2020 Q4 Financial Results Provides Selective 2021 Financial Guidance TAMPA,
About this update from Bloomin' Brands, Inc.
[{"type":"text","content":"\nGenerating Strong Cash Flow with Enhanced Liquidity Position\n\nAnnounces 2020 Q4 Financial Results\n\nProvides Selective 2021 Financial Guidance\n\n TAMPA, Fla.--(BUSINESS WIRE)--\nBloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the fourth quarter 2020 (“Q4 2020”) and fiscal year ended December 27, 2020 (“Fiscal Year 2020”) compared to the fourth quarter 2019 (“Q4 2019”) and fiscal year ended December 29, 2019 (“Fiscal Year 2019”).\n\nCEO Comments\n\n“Our priorities and focus remain on taking care of our people and providing a great and safe experience for guests in the restaurant or in the convenience of their home,” said David Deno, Chief Executive Officer. “The fourth quarter showed our continued resilience in navigating through a rapidly changing environment. We are making great progress across key initiatives to improve margins, increase cash flow, and pay down debt, while taking market share. Thus far in 2021 we have seen sales momentum and volume increases relative to Q4 with U.S. comp sales of (12.9)% through the first seven weeks of the fiscal year.”\n\nDiluted EPS and Adjusted Diluted EPS\n\nThe following table reconciles Diluted (loss) earnings per share attributable to common stockholders to Adjusted diluted earnings (loss) 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\nFISCAL YEAR\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\nCHANGE\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\nCHANGE\n\n\n\n\n\nDiluted (loss) earnings per share attributable to common stockholders\n\n\n\n$\n\n\n\n(0.16\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n0.32\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.48\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(1.85\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n1.45\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(3.30\n\n\n\n)\n\n\n\n\n\nAdjustments (1)\n\n\n\n0.18\n\n\n\n \n\n\n\n \n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n0.18\n\n\n\n \n\n\n\n \n\n\n\n1.16\n\n\n\n \n\n\n\n \n\n\n\n0.09\n\n\n\n \n\n\n\n \n\n\n\n1.07\n\n\n\n \n\n\n\n\n\nAdjusted diluted earnings (loss) per share (1)\n\n\n\n$\n\n\n\n0.02\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.32\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.30\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.69\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n1.54\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(2.23\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...