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What's in Store for Bloomin' Brands' (BLMN) Q2 Earnings?
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Bloomin’ Brands, Inc. (BLMN - Free Report) is scheduled to report second-quarter fiscal 2021 results on Jul 30, before market open.
In the last reported quarter, the company’s sales and earnings beat the Zacks Consensus Estimate by 3.4% and 111.8%. The upside can be attributable to the company’s sales-building initiatives, solid off-premise sales and rising dining demand owing to easing COVID-19 restrictions.
Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has moved 3.1% up to 67 cents over the past 30 days. The estimated figure indicates a significant improvement from the loss of 74 cents per share in the year-ago quarter. The consensus mark for revenues is pegged at $1.05 billion, suggesting 81.6% growth from the year-ago reported figure of $578.5 million.
Factors to Consider
Bloomin' Brands’ growing off-premise sales is likely to have driven its second-quarter fiscal 2021 results. The company has been strongly focusing on improving its off-premise business.
Moreover, the company is expected to have witnessed incremental sales from the additional market captured on gradual economic recovery. Bloomin' Brands continues to improve its to-go business with the reopening of dining rooms soon after COVID-19 restrictions started to ease. This may have been largely contributing to the company’s weekly sales volumes in the to-be-reported quarter. For second-quarter fiscal 2021, the Zacks Consensus Estimate for Restaurant sales and Franchise and other revenues stands at $983 million and $7.7 million, indicating a rise of 70.7% and 250%, respectively, from the prior-year quarter.
The Zacks Consensus Estimate for the number of restaurants operated by the company as of Jun 2021 is pegged at 1,478, suggesting an increase from 1472 restaurants reported in the year-ago period.
However, pandemic-related challenges are likely to have negatively impacted the company’s performance in the quarter. Lower dining room capacity in Brazil owing to the pandemic is likely to have hurt revenues in the second quarter.
Our proven model predicts an earnings beat for Bloomin' Brands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Earnings ESP for Bloomin' Brands is +8.75%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are a few other companies in the Zacks Retail – Restaurants industry which also have the right combination of elements to post an earnings beat in their respective quarters to be reported.
BJ's Restaurants, Inc. (BJRI - Free Report) has an Earnings ESP of +16.33% and a Zacks Rank #2.
Papa John's International, Inc. (PZZA - Free Report) has an Earnings ESP of +6.56% and a Zacks Rank #2.
Restaurant Brands International Inc. (QSR - Free Report) has an Earnings ESP of +0.37% and a Zacks Rank #2.
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What's in Store for Bloomin' Brands' (BLMN) Q2 Earnings?
Bloomin’ Brands, Inc. (BLMN - Free Report) is scheduled to report second-quarter fiscal 2021 results on Jul 30, before market open.
In the last reported quarter, the company’s sales and earnings beat the Zacks Consensus Estimate by 3.4% and 111.8%. The upside can be attributable to the company’s sales-building initiatives, solid off-premise sales and rising dining demand owing to easing COVID-19 restrictions.
Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has moved 3.1% up to 67 cents over the past 30 days. The estimated figure indicates a significant improvement from the loss of 74 cents per share in the year-ago quarter. The consensus mark for revenues is pegged at $1.05 billion, suggesting 81.6% growth from the year-ago reported figure of $578.5 million.
Factors to Consider
Bloomin' Brands’ growing off-premise sales is likely to have driven its second-quarter fiscal 2021 results. The company has been strongly focusing on improving its off-premise business.
Moreover, the company is expected to have witnessed incremental sales from the additional market captured on gradual economic recovery. Bloomin' Brands continues to improve its to-go business with the reopening of dining rooms soon after COVID-19 restrictions started to ease. This may have been largely contributing to the company’s weekly sales volumes in the to-be-reported quarter. For second-quarter fiscal 2021, the Zacks Consensus Estimate for Restaurant sales and Franchise and other revenues stands at $983 million and $7.7 million, indicating a rise of 70.7% and 250%, respectively, from the prior-year quarter.
The Zacks Consensus Estimate for the number of restaurants operated by the company as of Jun 2021 is pegged at 1,478, suggesting an increase from 1472 restaurants reported in the year-ago period.
However, pandemic-related challenges are likely to have negatively impacted the company’s performance in the quarter. Lower dining room capacity in Brazil owing to the pandemic is likely to have hurt revenues in the second quarter.
Bloomin Brands, Inc. Price and EPS Surprise
Bloomin Brands, Inc. price-eps-surprise | Bloomin Brands, Inc. Quote
What Our Model Indicates
Our proven model predicts an earnings beat for Bloomin' Brands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Earnings ESP for Bloomin' Brands is +8.75%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks With Favorable Combination
Here are a few other companies in the Zacks Retail – Restaurants industry which also have the right combination of elements to post an earnings beat in their respective quarters to be reported.
BJ's Restaurants, Inc. (BJRI - Free Report) has an Earnings ESP of +16.33% and a Zacks Rank #2.
Papa John's International, Inc. (PZZA - Free Report) has an Earnings ESP of +6.56% and a Zacks Rank #2.
Restaurant Brands International Inc. (QSR - Free Report) has an Earnings ESP of +0.37% and a Zacks Rank #2.