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Bloomin' Brands, Inc. (BLMN) SEC Filing 10-Q Quarterly report for the period ending Sunday, April 1, 2018

Bloomin' Brands, Inc.

CIK: 1546417 Ticker: BLMN



blmnlogov3.jpg
 
NEWS
 
Exhibit 99.1
 
 
 
 
 
Mark Graff
 
 
 
Vice President, IR & Finance
 
 
 
(813) 830-5311
 
 

Bloomin’ Brands Announces 2018 Q1 Diluted EPS of $0.68 and Adjusted Diluted EPS of $0.71
Q1 Comparable Restaurant Sales Growth of 4.3% at Outback With Positive Traffic of 2.2%
Q1 Combined U.S. Comparable Restaurant Sales Growth of 2.8%
Reaffirms Full Year 2018 Guidance For Adjusted Diluted EPS and U.S. Comparable Sales


TAMPA, Fla., April 26, 2018 - Bloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the first quarter 2018 (“Q1 2018”) compared to the first quarter 2017 (“Q1 2017”).

Highlights for Q1 2018 include the following:

Comparable restaurant sales were up 4.3% at U.S. Outback Steakhouse with traffic up 2.2%(1);
Combined U.S. comparable restaurant sales were up 2.8%(1);
Comparable restaurant sales were up 1.1% for Outback Steakhouse in Brazil; and
Opened 12 new restaurants, including 9 in international markets.
____________________________
(1)
For Q1 2018, comparable restaurant sales and traffic compare the thirteen weeks from January 1, 2018 through April 1, 2018 to the thirteen weeks from January 2, 2017 through April 2, 2017.

Impact of the Adoption of New Revenue Recognition Standard
 
Beginning with Q1 2018, our financial statements include the impact of our adoption of the new revenue recognition standard. We have restated historical periods to reflect the impact of this new standard. For Q1 2018 and Q1 2017, there was an approximate $0.04 increase to Adjusted Diluted EPS. For the full year Fiscal 2017, there was an approximate ($0.05) decrease to Adjusted Diluted EPS. We anticipate the impact to Fiscal 2018 to also approximate a ($0.05) decrease to Adjusted Diluted EPS, consistent with Fiscal 2017.
In the following table, Q1 2018 and Q1 2017 include the $0.04 increase to Adjusted Diluted EPS as described above.

Diluted EPS and Adjusted Diluted EPS
 
The following table reconciles Diluted earnings per share to Adjusted diluted earnings per share for the periods as indicated below.
 
Q1
 
 
 
2018
 
2017
 
CHANGE
Diluted earnings per share
$
0.68

 
$
0.46

 
$
0.22

Adjustments
0.03

 
0.12

 
(0.09
)
Adjusted diluted earnings per share
$
0.71

 
$
0.58

 
$
0.13

 
 
 
 
 
 
___________________
See Non-GAAP Measures later in this release.


1

The following information was filed by Bloomin' Brands, Inc. (BLMN) on Thursday, April 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Bloomin' Brands, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Bloomin' Brands, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Statements Of Cash Flows
Consolidated Balance Sheets
Consolidated Balance Sheets Parenthetical
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity Parenthetical
Consolidated Statements Of Operations And Comprehensive Income
Accrued And Other Current Liabilities
Accrued And Other Current Liabilities (table) (details)
Accrued And Other Current Liabilities (tables)
Commitments And Contingencies
Commitments And Contingencies - Litigation And Other Matters (details)
Commitments And Contingencies ??? Lease Guarantees (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (cash Flow Hedges Of Interest Rate Risk) (details)
Derivative Instruments And Hedging Activities (effects Of The Interest Rate Swap On The Consolidated Statement Of Operations And Comprehensive Income (loss)) (details)
Derivative Instruments And Hedging Activities (fair Value And Classification Of Interest Rate Swaps) (details)
Derivative Instruments And Hedging Activities (tables)
Description Of The Business And Basis Of Presentation
Description Of The Business And Basis Of Presentation (policies)
Description Of The Business And Basis Of Presentation (tables)
Description Of The Business And Basis Of Presentation Adoption Of New Accounting Procurements 2014-09 (details)
Description Of The Business And Basis Of Presentation Adoption Of New Accounting Procurements 2016-18 (details)
Description Of The Business And Basis Of Presentation Description Of Business (details)
Earnings Per Share
Earnings Per Share (antidilutive Securities) (details)
Earnings Per Share (basic And Diluted Eps) (details)
Earnings Per Share (tables)
Fair Value Measurements
Fair Value Measurements (carrying Value And Fair Value Of Debt By Hierarchy Level) (details)
Fair Value Measurements (fair Value Measurements On A Nonrecurring Basis) (details)
Fair Value Measurements (fair Value Measurements On A Recurring Basis) (details)
Fair Value Measurements (tables)
Impairment And Exit Costs
Impairments And Exit Costs (lease Liability Rollforward) (details)
Impairments And Exit Costs (projected Future Expenses & Cash Expenditures) (details)
Impairments And Exit Costs (provision For Impaired Assets And Restaurant Closings) (details)
Impairments And Exit Costs (restaurant Closure Initiatives-summary) (details)
Impairments And Exit Costs (tables)
Income Taxes
Income Taxes (tables)
Income Taxes - Change In Effective Rate (details)
Income Taxes Income Taxes - Tax Act (details)
Long-term Debt, Net
Long-term Debt, Net (schedule Of Long-term Debt, Net) (details)
Long-term Debt, Net (tables)
Other Current Assets, Net
Other Current Assets, Net (details)
Other Current Assets, Net (tables)
Revenue Recognition
Revenue Recognition (tables)
Revenue Recognition - Contract Assets And Liabilities - Deferred Gift Card Commissions Rollforward (details)
Revenue Recognition - Contract Assets And Liabilities - Deferred Gift Card Revenue Rollforward (details)
Revenue Recognition - Contract Assets And Liabilities Summary (details)
Revenue Recognition - Disaggregated Revenue (details)
Revenue Recognition - Narrative (details)
Segment Reporting
Segment Reporting (depreciation And Amortization By Segment) (details)
Segment Reporting (geographic Areas) (details)
Segment Reporting (income From Operations Reconciliation) (details)
Segment Reporting (narrative) (details)
Segment Reporting (revenue By Segment) (details)
Segment Reporting (tables)
Stock-based Compensation Plans
Stock-based Compensation Plans (assumptions Used In The Black-scholes Option Pricing Model And The Weighted-average Fair Value Of Option Awards Granted) (details)
Stock-based Compensation Plans (stock-based Compensation Expense) (details)
Stock-based Compensation Plans (tables)
Stock-based Compensation Plans (unrecognized Stock Compensation Expense And The Remaining Weighted-average Vesting Period) (details)
Stockholders' Equity
Stockholders' Equity (accumulated Other Comprehensive Income (loss)) (details)
Stockholders' Equity (dividend) (details)
Stockholders' Equity (other Comprehensive Income (loss)) (details)
Stockholders' Equity (share Repurchase) (details)
Stockholders' Equity (tables)

Material Contracts, Statements, Certifications & more

Bloomin' Brands, Inc. provided additional information to their SEC Filing as exhibits

Ticker: BLMN
CIK: 1546417
Form Type: 10-Q Quarterly Report
Accession Number: 0001546417-18-000103
Submitted to the SEC: Tue May 08 2018 4:09:13 PM EST
Accepted by the SEC: Tue May 08 2018
Period: Sunday, April 1, 2018
Industry: Retail Eating Places

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