Bloomin’ Brands: Q2 Earnings Snapshot
TAMPA, Fla. (AP) _ Bloomin’ Brands Inc. (BLMN) on Friday reported a second-quarter loss of $63.6 million, after reporting a profit in the same period a year earlier.
The Tampa, Florida-based company said it had a loss of 72 cents per share. Earnings, adjusted to extinguish debt and for non-recurring costs, came to 68 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The owner of Outback Steakhouse and other casual dining spots posted revenue of $1.13 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.11 billion.
Bloomin’ Brands expects full-year earnings to be $1.11 to $1.22 per share, with revenue in the range of $4.4 billion to $4.45 billion.
Bloomin’ Brands shares have declined nearly 6% since the beginning of the year. The stock has dropped 21% in the last 12 months.