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Donnerstag, 22.02.2018 13:05 von PR Newswire | Aufrufe: 94

Bloomin' Brands Announces 2017 Q4 Diluted EPS of $0.17 and Adjusted Diluted EPS of $0.41; Q4 Comparable Restaurant Sales Growth of 4.7% at Outback With Positive Traffic of 4.3%; Q4 Combined U.S. Compa

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PR Newswire

TAMPA, Fla., Feb. 21, 2018

TAMPA, Fla., Feb. 21, 2018 /PRNewswire/ -- Bloomin' Brands, Inc. (Nasdaq: BLMN) today reported results for the fourth quarter 2017 ("Q4 2017") and fiscal year ended December 31, 2017 ("Fiscal Year 2017") compared to the fourth quarter 2016 ("Q4 2016") and fiscal year ended December 25, 2016 ("Fiscal Year 2016"). In 2017, the fourth quarter and fiscal year included an additional operating week ("53^rd week") compared to Fiscal Year 2016.

Highlights for Q4 2017 include the following:

Comparable restaurant sales were up 4.7% at U.S. Outback Steakhouse with traffic up 4.3%⁽¹⁾;
Combined U.S. comparable restaurant sales were up 3.3% with traffic up 1.8%⁽¹⁾;
Comparable restaurant sales were up 4.9% for Outback Steakhouse in Brazil; and
Opened seven new restaurants, including four in international markets.

Highlights for Fiscal Year 2017 include the following:

Comparable restaurant sales were up 1.8% at U.S. Outback Steakhouse with traffic up 0.3%⁽¹⁾;
Combined U.S. comparable restaurant sales were up 0.5% with traffic down 1.3%⁽¹⁾;
Comparable restaurant sales were up 6.3% for Outback Steakhouse in Brazil;
Opened 31 new restaurants, including 23 in international markets; and
Repurchased 13.8 million shares of common stock for a total of $273 million.


(1)	For Q4 2017, comparable restaurant sales compare the 14 weeks from September 25, 2017 through December 31, 2017 to the 14 weeks from September 26, 2016 through January 1, 2017. For Fiscal Year 2017, comparable restaurant sales compare the 53 weeks from December 26, 2016 through December 31, 2017 to the 53 weeks from December 28, 2015 through January 1, 2017.

Diluted EPS and Adjusted Diluted EPS

ARIVA.DE Börsen-Geflüster

Kurse

Bloomin' Brands

25,00 €

-1,57%

The following table reconciles Diluted earnings (loss) per share to Adjusted diluted earnings per share for the periods as indicated below.

	Q4						FISCAL YEAR
	2017		2016		CHANGE		2017		2016		CHANGE
Diluted earnings (loss) per share	$	0.17	$	(0.04)	$	0.21	$	1.01	$	0.37	$	0.64
Adjustments	0.24		0.33		(0.09)		0.35		0.88		(0.53)
Adjusted diluted earnings per share	$	0.41	$	0.29	$	0.12	$	1.36	$	1.25	$	0.11



See Non-GAAP Measures later in this release.

CEO Comments

"By all measures the fourth quarter was an excellent finish to 2017 for Bloomin' Brands," said Liz Smith, CEO. "Outback's Q4 sales and traffic performance were well ahead of the industry, and reflect the ongoing impact of our investments in the customer experience. We are pleased with how our brands are performing so far in early 2018, particularly at Outback where momentum continues."

Fourth Quarter Financial Results

(dollars in millions)	Q4 2017			Q4 2016			CHANGE
Total revenues	$	1,087.6		$	1,004.1		8.3	%

U.S. GAAP restaurant-level operating margin	16.3		%	15.2		%	1.1	%
Adjusted restaurant-level operating margin (1)	16.3		%	15.1		%	1.2	%

U.S. GAAP operating income margin	2.9		%	(0.4)		%	3.3	%
Adjusted operating income margin (1)	5.3		%	5.5		%	(0.2)	%


(1) See Non-GAAP Measures later in this release.

The increase in total revenues was primarily due to $80.4 million of revenues from the 53^rd week of 2017, higher comparable restaurant sales and an increase in franchise and other revenues, partially offset by decreases from refranchising internationally and domestically and the net impact of restaurant closures and new restaurant openings.
The increase in U.S. GAAP operating income margin was primarily due to: (i) the impact of the 53^rd week in 2017, (ii) net year-over-year impact of closure and restructuring initiatives, (iii) the impact of certain cost savings initiatives and (iv) lower advertising expense. These increases were partially offset by increases in incentive compensation expense and higher labor costs.
The largest contributor to our decline in Q4 2017 adjusted operating income margin was an increase in incentive compensation expense driven by improved sales and profit performance. In Q4 2017, we recorded $15.3 million of incentive compensation expense as compared to a $9.0 million reversal of incentive compensation expense in Q4 2016, resulting in a $24.3 million dollar change in year-over-year incentive compensation expense.

Fourth Quarter Comparable Restaurant Sales⁽¹⁾

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