Restaurant company Bloomin’ Brands (NASDAQ: BLMN) will be reporting earnings this Wednesday before market open. Here’s what you need to know.
Bloomin' Brands beat analysts’ revenue expectations last quarter, reporting revenues of $1.06 billion, flat year on year. It was an exceptional quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Is Bloomin' Brands a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Bloomin' Brands’s revenue to be flat year on year, in line with its flat revenue from the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Bloomin' Brands has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Bloomin' Brands’s peers in the sit-down dining segment, some have already reported their Q2 results, giving us a hint as to what we can expect. The Cheesecake Factory delivered year-on-year revenue growth of 7.7%, beating analysts’ expectations by 2.9%, and BJ's reported revenues up 6.4%, topping estimates by 3.2%. The Cheesecake Factory traded up 13.6% following the results while BJ's was down 9%.
Read our full analysis of The Cheesecake Factory’s results here and BJ’s results here.
There has been positive sentiment among investors in the sit-down dining segment, with share prices up 2.4% on average over the last month. Bloomin' Brands is up 11.9% during the same time and is heading into earnings with an average analyst price target of $8.70 (compared to the current share price of $8.98).
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