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What's in Store for Bloomin' Brands' (BLMN) Q3 Earnings?
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Bloomin' Brands, Inc. (BLMN - Free Report) is scheduled to report third-quarter 2020 results on Oct 23. In the last-reported quarter, the company delivered an earnings surprise of 35.7%.
Q3 Estimates
The Zacks Consensus Estimate for third-quarter bottom line is pegged at a loss of 35 cents. Notably, the company reported earnings of 10 cents in the year-ago quarter. The consensus mark for revenues stands at $743.3 million, suggesting a decline of 23.1% from the prior-year quarter.
The coronavirus pandemic is likely to have materially affected Bloomin' Brands third-quarter performance. Dismal traffic owing to the pandemic might have negatively impacted the to-be-reported quarter’s performance. Moreover, dismal Restaurant sales and Franchise and other revenues are likely to have hurt the third-quarter top line. The Zacks Consensus Estimate for Restaurant sales and Franchise and other revenues stands at $725 million and $7.7 million, indicating a decline of 23.8% and 51.6%, respectively, from the prior-year quarter.
However, robust off-premise sales are likely to have contributed to the company’s to-be-reported quarter’s performance. The company has been focusing on improving off-premise sales after the coronavirus outbreak.
What Our Model Says
Our proven model conclusively 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: Bloomin' Brands has an Earnings ESP of +22.49%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other stocks from the Zacks Retail-Wholesale space that investors may consider as our model shows that these too have the right combination of elements to post an earnings beat this quarter:
Chuy's Holdings, Inc. (CHUY - Free Report) currently has a Zacks Rank #1 and an Earnings ESP of +2.94%.
McDonald's Corporation (MCD - Free Report) has a Zacks Rank #2 and an Earnings ESP of +1.56%.
Papa John's International, Inc. (PZZA - Free Report) has a Zacks Rank #3 and an Earnings ESP of +0.52%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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What's in Store for Bloomin' Brands' (BLMN) Q3 Earnings?
Bloomin' Brands, Inc. (BLMN - Free Report) is scheduled to report third-quarter 2020 results on Oct 23. In the last-reported quarter, the company delivered an earnings surprise of 35.7%.
Q3 Estimates
The Zacks Consensus Estimate for third-quarter bottom line is pegged at a loss of 35 cents. Notably, the company reported earnings of 10 cents in the year-ago quarter. The consensus mark for revenues stands at $743.3 million, suggesting a decline of 23.1% from the prior-year quarter.
Bloomin Brands, Inc. Price and EPS Surprise
Bloomin Brands, Inc. price-eps-surprise | Bloomin Brands, Inc. Quote
Factors to Note
The coronavirus pandemic is likely to have materially affected Bloomin' Brands third-quarter performance. Dismal traffic owing to the pandemic might have negatively impacted the to-be-reported quarter’s performance. Moreover, dismal Restaurant sales and Franchise and other revenues are likely to have hurt the third-quarter top line. The Zacks Consensus Estimate for Restaurant sales and Franchise and other revenues stands at $725 million and $7.7 million, indicating a decline of 23.8% and 51.6%, respectively, from the prior-year quarter.
However, robust off-premise sales are likely to have contributed to the company’s to-be-reported quarter’s performance. The company has been focusing on improving off-premise sales after the coronavirus outbreak.
What Our Model Says
Our proven model conclusively 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: Bloomin' Brands has an Earnings ESP of +22.49%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks from the Zacks Retail-Wholesale space that investors may consider as our model shows that these too have the right combination of elements to post an earnings beat this quarter:
Chuy's Holdings, Inc. (CHUY - Free Report) currently has a Zacks Rank #1 and an Earnings ESP of +2.94%.
McDonald's Corporation (MCD - Free Report) has a Zacks Rank #2 and an Earnings ESP of +1.56%.
Papa John's International, Inc. (PZZA - Free Report) has a Zacks Rank #3 and an Earnings ESP of +0.52%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>