Long trade : Bloomin' Brands (BLMN) +12% (8/19)

• Aug. 22:  #1, 5, 6, 97; vol. 1.6M

 

Bloomin' Brands: JANA Partners discloses 9% active stake
The Reporting Person acquired the Shares because it believes the Shares are undervalued and represent an attractive investment opportunity. The Reporting Person intends to have discussions with the Issuer's board of directors and management regarding a sale of the Issuer, divestitures, capital allocation, operations and board composition. The Reporting Person expects to have discussions with the Issuer's management and board of directors, shareholders and other interested.

Bloomin' Brands (BLMN) reported earnings on Thur 22 Feb 2018 (b/o)

** charts after earnings **

 

Bloomin' Brands beats by $0.02, beats on revs; guides FY18 EPS above consensus; Combined U.S. comparable restaurant sales were up 3.3% with traffic up 1.8% 

• Reports Q4 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.39; revenues rose 8.3% year/year to $1.09 bln vs the $1.05 bln Capital IQ Consensus.
  • Comparable restaurant sales were up 4.7% at U.S. Outback Steakhouse with traffic up 4.3%.
  • Combined U.S. comparable restaurant sales were up 3.3% with traffic up 1.8%.
  • Comparable restaurant sales were up 4.9% for Outback Steakhouse in Brazil. 
  • Opened seven new restaurants, including four in international markets.
• Co issues upside guidance for FY18, sees EPS of $1.38-1.45, excluding non-recurring items, vs. $1.40 Capital IQ Consensus Estimate.
• "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." 

BLMN — is it a buy?

• Mar 9:  #37

•  April 28:

BLMN — is it a buy?

• Feb. 17:  Right after earnings. Is it a buy?

• 3 weeks later:  NO

Bloomin' Brands (BLMN) reported earnings on Fri 17 Feb 2017 (b/o)

** charts before earnings **

 

** charts after earnings **

Bloomin' Brands reports EPS in-line, misses on revs; guides FY17 EPS in-line; closes 43 underperforming stores :

• Reports Q4 (Dec) earnings of $0.31 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.31; revenues fell 4.3% year/year to $1 bln vs the $1.02 bln Capital IQ Consensus. The decrease in Total revenues was primarily due to the sale of Outback Steakhouse South Korea restaurants in July 2016 and lower comparable restaurant sales, partially offset by the effect of foreign currency translation and the net benefit of new restaurant openings and closings.
• Reported combined U.S. comparable restaurant sales down 3.5%; Reported comparable restaurant sales for Outback Steakhouse in Brazil up 6.1%. Repurchased 1.8 million shares of common stock for a total of $35 million;
• Co issues in-line guidance for FY17, sees EPS of $1.40-1.47, excluding non-recurring items, vs. $1.42 Capital IQ Consensus Estimate.  
• "On February 15, 2017, we decided to close 43 underperforming restaurants. In connection with these closures, we recognized pre-tax asset impairments of $46.5 million during Q4 2016, which includes three restaurants that closed in the fourth quarter. We expect to incur charges between $16 million to $19 million in fiscal year 2017 with the majority of these expenses occurring in the first quarter."