NEW YORK (TheStreet) -- Shares of Bloomin' Brands Inc (BLMN) are soaring, up 11.33% to $20.74 in afternoon trading Monday, following the casual dining restaurant company's third quarter earnings of 19 cents per share, topping analysts' expectations of 8 cents per share.
Revenue for the quarter was $1.07 billion, better than the $1.04 billion consensus estimate.
The company said the rise in total revenues was due to the consolidation of restaurant sales, additional revenues from opening new restaurants, and an increase in domestic comparable restaurant sales.
The owner of the Outback chain said it expects full fiscal year adjusted earnings of a range of $1.05 to $1.10 per share, versus the consensus estimate of $1.07 per share.
Bloomin' Brands raised its full year revenue outlook to $4.42 billion - $4.45 billion from $4.4 billion - $4.45 billion, compared to consensus estimate of $4.42 billion.
Tamps, FL-based Bloomin' Brands is a holding company and owns restaurant chains including, Outback Steakhouse and Carrabba's Italian Grill.
Separately, TheStreet Ratings team rates BLOOMIN' BRANDS INC as a Hold with a ratings score of C.
- You can view the full analysis from the report here: BLMN Ratings Report