Bloomin' Brands Inc. (BLMN) has reported its third-quarter earnings. While the earnings have decreased compared to the previous year, they surpassed the expectations set by industry analysts.
The company posted net earnings of $6.91 million or $0.08 per share, a notable decline from the $44.53 million or $0.45 per share achieved during the same period last year. When excluding certain items, Bloomin' Brands recorded adjusted earnings of $18.15 million, translating to $0.21 per share for the quarter.
Analysts, as surveyed by Thomson Reuters, had generally anticipated earnings of $0.20 per share, with their projections typically not accounting for extraordinary items.
In terms of revenue, Bloomin' Brands experienced a 3.8% decline, with quarterly earnings totaling $1.039 billion compared to $1.080 billion in the previous year.
Here's a summary of Bloomin' Brands' earnings for this period under Generally Accepted Accounting Principles (GAAP):
- Earnings for Q3: $6.91 million, compared to $44.53 million last year.
- Earnings per share (EPS) for Q3: $0.08, compared to $0.45 last year.
- Revenue for Q3: $1.039 billion, compared to $1.080 billion last year.
