This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Bloomin' Brands, Inc. Announces First Quarter Adjusted Diluted Earnings Per Pro Forma Share Of $0.50 And GAAP Diluted Earnings Per Share Of $0.50; Raises Full-Year 2013 Guidance For Adjusted Diluted Earnings Per Share From At Least $1.06 To At Least $1.10

Stocks in this article: BLMN

TAMPA, Fla., April 30, 2013 (GLOBE NEWSWIRE) -- Bloomin' Brands, Inc. (Nasdaq:BLMN) today reported financial results for the first quarter ended March 31, 2013.

Key highlights for the first quarter include the following:

  • First quarter Adjusted diluted earnings per pro forma share were $0.50 per share, an increase of 2.0% from the same period in 2012. First quarter Diluted earnings per share were $0.50 per share, an increase of 6.4% from the same period in 2012.
  2013 2012 $ Change
Diluted earnings per share  $ 0.50  $ 0.47  $ 0.03
Adjustments (1) 0.02 (0.02)
Adjusted diluted earnings per pro forma share (1)  $ 0.50  $ 0.49  $ 0.01
(1) See Reconciliations of Non-GAAP Measurements to U.S. GAAP Results included later in this release. Adjustments for the first quarter of 2012 primarily relate to the refinancing of long-term debt including the related loss on extinguishment as well as management fees and expenses. Adjusted diluted earnings per pro forma share in 2012 gives pro forma effect to the issuance of shares in the initial public offering ("IPO") as if they were all outstanding on January 1, 2012.
  • Total revenues for the first quarter of 2013 increased by 3.5% to $1.1 billion.   
  • Blended domestic comparable restaurant sales for Company-owned restaurants for the first quarter grew by a reported 1.6% (2.4% when adjusted for the impact of trading day) for the Company's four core concepts. The increase was driven by a 2.2% traffic increase.  
  • For the first quarter of 2013, restaurant level operating margins (calculated as Restaurant sales less Cost of sales, Labor and other related costs and Other restaurant operating expenses) were 18.4% as a percentage of Restaurant sales, a decrease of 50 basis points from the same quarter in 2012.  
  • Adjusted income from operations was $96.9 million in the first quarter of 2013 as compared to $99.5 million for the same period in 2012, a decrease of $2.6 million. Income from operations for the first quarter of 2013 was $96.9 million as compared to $90.4 million for the same quarter of the prior year.  
  • Adjusted net income attributable to Bloomin' Brands, Inc. in the first quarter of 2013 increased to $63.2 million as compared to $59.6 million for the same period in 2012. Net income attributable to Bloomin' Brands, Inc. for the first quarter of 2013 was $63.2 million as compared to $50.0 million for the same period in 2012.   
  • During the first quarter of 2013, the Company opened 10 new Company-owned locations: seven Bonefish Grill restaurants, one domestic Outback Steakhouse restaurant and two international Outback Steakhouse restaurants in Korea. In addition, 15 Company-owned restaurant renovations were completed during the quarter.

"We were quite pleased with the way we closed the first quarter, despite a challenging start to the year for the entire casual dining segment," said Elizabeth Smith, Chairman of the Board and CEO. "We made further gains in market share which demonstrates the resiliency of our brands and the strength of our strategy to drive sustainable growth."

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs