Bloomin' Brands Posts $928.8M Q3 Revenue, Analysts Forecast 1% Q4 Growth
Bloomin' Brands reported Q3 revenues of $928.8 million, down 10.6% year-over-year, while beating consensus revenue, EPS, and EBITDA forecasts. Analysts expect Q4 revenue growth of 1% year-over-year, unchanged over 30 days, versus an 18.6% decline a year earlier, with an average price target of $7.60.
1. Q3 Financial Performance
Bloomin' Brands reported Q3 revenues of $928.8 million, down 10.6% year-over-year, while delivering an EPS and EBITDA beat alongside the revenue outperformance.
2. Q4 Forecast and Analyst Outlook
Analysts project Q4 revenues to rise 1% year-over-year, reversing last year’s 18.6% decline, with consensus estimates unchanged over the past 30 days.
3. Peer Comparisons
Brinker International reported Q4 revenue growth of 6.9%, beating expectations by 2.9% and lifting its shares 2.1%, while Texas Roadhouse delivered 3.1% revenue growth but missed estimates by 0.8%, with its shares falling 2%.
4. Stock Movement and Price Targets
Bloomin' Brands shares have declined 6.2% over the past month versus a 4.2% drop for sit-down dining peers, and analysts maintain an average price target of $7.60 against the current $6.15 price.