Bloomin' Brands Announces 2016 First Quarter Adjusted Diluted EPS of $0.47 and Diluted EPS of $0.29;

TAMPA, Fla., April 26, 2016

Key highlights for Q1 2016 include the following:

• The Company repurchased approximately 4.4 million shares of common stock for a total of $75.0 million;
• Comparable sales for Company-owned U.S. concepts declined 1.5%;
• Comparable sales for Outback Steakhouse in Brazil increased 8.8%; and
• Added eight new restaurants, including six in international markets

Subsequent to Q1 2016, the Company entered into a sale-leaseback transaction in which it sold 41 restaurant properties for gross proceeds of $141.4 million.

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.

	Q1
	2016 ARIVA.DE Börsen-Geflüster Kurse Bloomin' Brands 26,99 $ -0,15%				2015				CHANGE
Adjusted diluted earnings per share	$	0.47			$	0.54			$	(0.07)
Adjustments	(0.18)				(0.07)				(0.11)
Diluted earnings per share	$	0.29			$	0.47			$	(0.18)

____________________

CEO Comments

"Our first quarter earnings were in line with our expectations," said Liz Smith, CEO. "As we indicated in February, we expect our performance to strengthen in the back half of the year.  This cadence was contemplated in our annual guidance and is driven by the timing of investments and their related benefits, lapping a very strong first half in 2015 and the pacing of foreign currency impact."

Smith continued, "In addition, we repurchased $75.0 million worth of stock in the first quarter.  This was enabled by our strong free cash flow and the great progress we are making in our efforts to sell our owned real estate. We will continue to explore additional opportunities within our portfolio to maximize shareholder value."

First Quarter Financial Results

• The decrease in Total revenues was primarily due to the effect of foreign currency translation and lower comparable restaurant sales, partially offset by the net benefit of new restaurant openings and closings.
• The decreases in Adjusted and U.S. GAAP restaurant-level operating margin were primarily due to wage inflation and unfavorable product mix. These decreases were partially offset by productivity savings and menu pricing.
• The decrease in Adjusted operating income margin was due to lower restaurant-level operating margin as described above and higher expense associated with the timing of the Company's annual managing partner conference, partially offset by lower deferred compensation expenses and a reduction in professional fees.
• The differences between Adjusted and U.S. GAAP operating income margin were primarily due to restaurant closing costs related to our Bonefish Restructuring in 2016 and our International Restaurant Closure Initiative in 2015.

First Quarter Comparable Restaurant Sales

THIRTEEN WEEKS ENDED MARCH 27, 2016		COMPANY- OWNED
Comparable restaurant sales (stores open 18 months or more) (1) (2):
U.S.
Outback Steakhouse		(1.3)	%
Carrabba's Italian Grill		(2.0)	%
Bonefish Grill		(2.7)	%
Fleming's Prime Steakhouse & Wine Bar		1.3	%
Combined U.S.		(1.5)	%
International
Outback Steakhouse - Brazil		8.8	%
Outback Steakhouse - South Korea		(5.6) Werbung Mehr Nachrichten zur Bloomin' Brands Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 25.04.24 - PR Newswire BlackRock Energy and Resources Income Trust Plc - Portfolio Update 25.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - TClarke Plc SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59