Bloomin' Brands said it now expects revenue of at least $4.43 billion for the full year 2015, down from its previous estimate of at least $4.49 billion, and below analysts' estimates of $4.56 billion. The company reiterated its 2015 EPS guidance of at least $1.27 a share for the year, compared to analysts' estimates of $1.29 a share.
For the first quarter Bloomin' Brands reported earnings of 54 cents a share, beating analysts' estimates of 53 cents a share. Revenue grew 3.4% from the year-ago quarter to $1.2 billion, compared to analysts' estimates of $1.21 billion.
Comparable store sales grew 3.6% for the company in the first quarter. Comparable store sales grew 5% at Outback Steakhouse restaurants, 1.9% at Carraba's Italian Grill, 0.9% at Bonefish Grill, and 3% at Fleming's Prime Steakhouse & Wine Bar.
TheStreet Ratings team rates BLOOMIN' BRANDS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLOOMIN' BRANDS INC (BLMN) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."