BLOOMIN BRANDS (BLMN)

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ANNUAL – per Yahoo/Finance

QUARTERLY – per Yahoo/Finance

ENTERPRISE VALUE/TTM ADJUSTED EBITDA per Lipton Financial Services

As of Q1’24 report, management reaffirming all other aspects of our full-year financial guidance as previously communicated in our February 23, 2024 earnings release.

Commodity Inflation revised from 3-4% to 2-3%, GAAP Effective Tax Rate from 14-16% to 29-31%, Adjusted Effective Tax Rate stays the same at 14-16%, GAAP diluted EPS from $2.27-2.46 to $.79 to $0.94, Adjusted diluted EPS stays the same at $2.51 to $2.66.

Q2 2024 Financial Outlook

US comp sales at flat to +1.5%, GAAP diluted EPS at $0.53 to $0.58, Adjusted diluted EPS at $0.55 to $0.60.

“We expect the full year U.S. comparable restaurant sales to be flat to 2% on a comparable calendar basis. Adjusted diluted earnings per share are expected to be between $2.51 and $2.66. We expect commodities’ inflation to be between 3% and 4%, driven in large part by beef inflation. We expect our full year tax rate assumption to be between 14% and 16%. Capital expenditures are expected to be between $270 million and $290 million. Our level of capital spending accelerated late in 2023, as our new restaurant pipeline has grown. The 2024 capital plan includes dollars to support approximately 40 to 45 new restaurant openings, including significant Q4 spending for 2025 openings, as well as ongoing funding of remodel, relocation and infrastructure projects. The 53rd week in 2023 creates some complexity in comparing year-over-year results, both for the full year and by quarter. Each fiscal quarter of 2024 will be comparing to a fiscal quarter from 2023, that includes a one week shift. This shift is especially impactful in the first quarter.”

MOST RECENT CONFERENCE CALL TRANSCRIPT

Bloomin’ Brands, Inc. (BLMN) Q1 2024 Earnings Call Transcript _ Seeking Alpha