Unpacking Bloomin' Brands Stock Ahead of Earnings

BLMN is slated to report earnings on April 29

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Bloomin' Brands, Inc. (NASDAQ:BLMN) is an American restaurant holding company that owns several casual dining restaurant chains. The company has four founder-inspired brands: Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse & Wine Bar. Bloomin' Brands also own and operate more than 1,450 restaurants in 47 US states, Puerto Rico, Guam, and 20 countries, some of which are franchise locations. This afternoon, BLMN is up 2.1% at $28.51.

Bloomin’ Brands will be releasing first-quarter earnings on Thursday, April 29. Bloomin' Brands managed to beat earnings expectations in three out of the last four earnings reports on 2020. For the first quarter of 2020, Bloomin' Brands missed analysts’ estimates by a margin of $0.06 and reported an earnings per share (EPS) of $0.14. For the second quarter of 2020, the company's EPS decreased to -$0.74 but BLMN still beat expectations by a margin of $0.38. For the third quarter of 2020, BLMN reported an increase in earnings, rising to -$0.12 per share and beating estimates by a margin of $0.21. In the most recent quarterly report, Bloomin’ Brands posted an EPS of $0.02 and beat expectations by a margin of $0.03.

BLMN has increased 172% over the past 12 months and is up 233% from its 52-week low of $8.37. Additionally, shares of Bloomin’ Brands stock have increased 46% year-to-date and BLMN stock price is down just 4% from its March high of $29.95.

Fundamentally, Bloomin' Brands in not in the greatest position at the moment. In 2020, the company's revenue dropped down to $3.17 billion compared to $4.14 billion in 2019. On top of that, Bloomin’ Brands’ revenues had largely been stagnant since fiscal 2017, even before the COVID-19 pandemic that wreaked havoc in the restaurant industry.

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