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03.11.2015 13:05
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Bloomin' Brands Announces 2015 Third Quarter Adjusted Diluted EPS of $0.15 and Diluted EPS of $0.13;
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PR Newswire
TAMPA, Fla., Nov. 3, 2015
TAMPA, Fla., Nov. 3, 2015 /PRNewswire/ -- Bloomin' Brands, Inc. (Nasdaq: BLMN) today reported results for the third quarter ("Q3 2015") ended September 27, 2015 compared to the third quarter ("Q3 2014") ended September 28, 2014.
Results for Q3 2015 include the following:
- Comparable sales for Outback Steakhouse in Brazil and Korea increased 6.1% and 6.0%, respectively
- Comparable sales for Company-owned U.S. concepts declined 1.3%
- The Company opened 10 new restaurants including six International restaurants
- Adjusted restaurant margin was 14.5% versus 13.8% in Q3 2014 and U.S. GAAP restaurant margin was 14.8% versus 13.8% in Q3 2014
- The Company repurchased approximately 2.9 million shares of its common stock for $60 million in Q3 2015 for a total of approximately 7.0 million shares for $160 million year-to-date
Adjusted Diluted EPS and Diluted EPS
The following table reconciles Adjusted diluted earnings per share to Diluted earnings per share for the periods as indicated below.
| | Q3 2015 | | Q3 2014 | | CHANGE | ||||||
| Adjusted diluted earnings per share | $ | 0.15 | | | $ | 0.10 | | | $ | 0.05 | |
| Adjustments | (0.02) | | | (0.19) | | | 0.17 | | |||
| Diluted earnings (loss) per share | $ | 0.13 | | | $ | (0.09) | | | $ | 0.22 | |
| | | | | | | ||||||
| ____________________ |
| See Non-GAAP Measures later in this release. |
CEO Comments
"Our third quarter results position us well to deliver on our EPS goals for the year. Our International business continues to deliver strong performance and our ongoing productivity efforts led to 70 basis points of restaurant margin expansion in the quarter," said Elizabeth Smith, CEO. "We knew that our back half trends would be challenged given the high year ago base; however, our marketing programs did not break through as expected. We are preparing for 2016 with significant innovation driven platforms and new levers to drive comp sales."
Third Quarter Financial Results
The following summarizes the Company's results for Q3 2015 and Q3 2014:
| (dollars in millions) | Q3 2015 | | Q3 2014 | | % Change | |||||
| Total revenues | $ | 1,026.7 | | | $ | 1,065.5 | | | (3.6) | % |
| | | | | | | |||||
| Adjusted restaurant level operating margin | 14.5 | % | | 13.8 | % | | 0.7 | % | ||
| U.S. GAAP restaurant level operating margin | 14.8 | % | | 13.8 | % | | 1.0 | % | ||
| | | | | | | |||||
| Adjusted operating income margin | 4.0 | % | | 3.2 | % | | 0.8 | % | ||
| U.S. GAAP operating income margin | 3.8 | % | | (0.1) | % | | 3.9 | % | ||
- The decrease in Total revenues was primarily due to the effect of foreign currency translation, partially offset by the net benefit of new restaurant openings and closings.
- The increases in Adjusted restaurant-level operating margin and Adjusted operating income margin were primarily due to productivity savings and increased efficiencies in advertising expenses. These increases were partially offset by commodity and wage inflation.
- The difference between Adjusted and U.S. GAAP restaurant-level operating margins in Q3 2015 was due to the favorable resolution of a payroll tax audit contingency.
- The increase in U.S. GAAP operating income margin in Q3 2015 was primarily due to the lapping of costs related to our International Restaurant Closure Initiative and impairments related to the decision to sell our corporate aircraft and Roy's.
| Third Quarter Comparable Restaurant Sales | | | |
| | | | |
| THIRTEEN WEEKS ENDED SEPTEMBER 27, 2015 | | COMPANY- OWNED | |
| Comparable restaurant sales (stores open 18 months or more) (1) (2): | | | |
| U.S. | | | |
| Outback Steakhouse | | 0.1 | % |
| Carrabba's Italian Grill | | (2.0) | % |
| Bonefish Grill | | (6.1) | % |
| Fleming's Prime Steakhouse & Wine Bar | | (0.6) | % |
| Combined U.S. | | (1.3) | % |
| | | | |
| International | | | |
| Outback Steakhouse - Brazil | | 6.1 | % |
| Outback Steakhouse - South Korea | | 6.0 Werbung Mehr Nachrichten zur Bloomin' Brands Aktie kostenlos abonnieren
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