The following fund receives an attractive rating and allocates significantly to BLMN: Disclosure: David Trainer, Kyle Guske II, and Matt Shuler receive no compensation to write about any specific stock, style, or theme. Bloomin’ Brands Provides Business Update Related to the COVID-19 Pandemic. The firm beat EPS estimates in seven of the past 10 quarters, and doing so again, in the midst of such market turmoil, could send shares higher. IN ADJUSTED QUARTER TO DATE. Over the past seven years, Bloomin’ Brands has grown revenue by 1% compounded annually and core earnings[1] by 1% compounded annually. For the week ended June 6, 2020, the firm’s comparable restaurant sales … He is author of the Chapter “Modern Tools for Valuation” in The Valuation Handbook (Wiley Finance 2010). Providing food service while other restaurants are completely closed, allows the firm to maintain and even grow its engagement with customers, which will be an advantage for the firm once the effects of the pandemic are over. Statement from David Deno, Chief Executive Officer. Segments - Restaurant-level operating margin: (UNFAVORABLE) We believe that our use of non-GAAP financial measures permits investors to assess the operating performance of our business relative to our performance based on GAAP results and relative to other companies within the restaurant industry by isolating the effects of certain items that may vary from period to period without correlation to core operating performance or that vary widely among similar companies. Figure 9: Current Valuation Implies Severe, Long-Term Decline in Profits: Scenario 1, Scenario 2: Long-term View Could Be Very Profitable. As concerns of a second wave of COVID-19 increase, additional shelter-in-place orders pose the biggest threat to Bloomin’ Brands’ cash position. Here’s a quick summary of what noise traders are missing: The Yield Is on Hold, but Should Come Back. Tampa-based Bloomin’ (NASDAQ: BLMN), the parent company of Outback Steakhouse, and Lakeland-based Publix were both honored in the overall excellence corporate category along with Centene Corp… Represents income tax effect of the adjustments for the periods presented. If profits return to these levels in less than 10 years, BLMN has even more upside potential. We have, and in the future may continue to have, negative working capital balances (as is common for many restaurant companies). All Rights Reserved, This is a BETA experience. TAMPA, Fla. -- (BUSINESS WIRE)--Apr. During the twenty-six weeks ended June 28, 2020, we issued $230.0 million of senior convertible notes. This chain, whose famous Bloomin' Onion item shares a first name with the restaurant’s parent company, faces a 13.2% chance of defaulting. “COVID-19 may have changed how we do business but our commitments to serving our communities, guests, and volunteers remains the same.” When the pandemic began in March, Bloomin’ Brands restaurants enhanced safety protocols, redesigned dining rooms to create larger to-go packaging areas and shifted to 100% delivery in a matter of hours. Improving Profitability Helps Take Market Share During the Crisis and Grow in the Recovery. Outback Steakhouse parent Bloomin' Brands. 24, 2020-- Bloomin’ Brands, Inc. (Nasdaq: BLMN) today announced a business update related to COVID-19 as well as second quarter 2020 financial results. (Loss) earnings per share attributable to common stockholders: Weighted average common shares outstanding: Reconciliation of Segment (Loss) Income from The Company assumes no obligation to update any forward-looking statement, except as may be required by law. A return to repurchasing shares once the economy stabilizes, or even returns to growth, would provide additional yield for investors. “We collectively said, ‘What we do today and over the next few months will be remembered forever, so let’s be proud of the decisions we make during this time,’” Deno said. Bloomin’ Brands Provides Business Update Related to the COVID-19 Pandemic [Reports Strengthening Sales Trends ][Announces 2020 Q1 Financial Results] Business Wire TAMPA, Fla. -- … In other words, this scenario implies that a decade after the COVID-19 pandemic, Bloomin Brands’ profits will have only recovered to just 1% above 2017 NOPAT levels – the lowest levels since the firm’s IPO in 2012 and prior to the closure of underperforming restaurants. stockholders (8), Adjusted diluted (loss) earnings per share (8), Diluted weighted average common shares outstanding (8). Outback Steakhouse’s average weekly sales per restaurant grew by 213% from the weeks ended March 1, 2020 to May 3, 2020. (1) Brazil comparable restaurant sales are on a one-month lag and are presented on a calendar basis. In this scenario, Bloomin’ Brands’ NOPAT falls by 1% compounded annually over the next decade (including a 45% YoY drop in 2020) and the stock is worth $18/share today – a 64% upside to the current price. Bloomin’ Brands, Inc. is one of the largest casual dining restaurant companies in the world with a portfolio of leading, differentiated restaurant concepts. 100 inventions that changed America. Denny's sales … The investments made over the past several years to enhance the customer experience and rapidly pursue the emerging delivery opportunity have been critical to our success in navigating this pandemic. Bloomin’ Brands, Inc. (Nasdaq: BLMN) today announced additional information resulting from the dynamic environment caused by COVID-19. The S&P 500 index was up by more than 3% in morning trading Monday, led by restaurants and other sectors that struggled during the pandemic. Mount Rainier: Body of missing man found . Executive Compensation Could Be Improved but Raises No Red Flags. You can see all the adjustments made to Bloomin’ Brands’ income statement here. Further information on potential factors that could affect the financial results of the Company and its forward-looking statements is included in its most recent Form 10-K and subsequent filings with the Securities and Exchange Commission. Though the COVID-19 pandemic has reduced restaurant demand, these lowered expectations provide a great opportunity for a strong company, such as Bloomin’ Brands, to beat consensus. Bloomin’ Brands, Inc. (Nasdaq: BLMN) today announced a business update related to COVID-19 as well as recent sales results and details on cash utiliza Short interest is down 3% from the prior month. As announced on March 20, 2020, the Company withdrew its 2020 financial guidance for the fiscal year ending December 27, 2020. IN ADJUSTED YEAR TO DATE. Figure 6: Bloomin’ Brands’ U.S. Statement As of July 19, 2020, 928 company-operated restaurants (approximately 92% of U.S. restaurants) have reopened with limited in-restaurant dining capacity. 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