What's in Store for Bloomin' Brands' (BLMN) Q3 Earnings?
Bloomin' Brands, Inc. BLMN is scheduled to report third-quarter 2020 results on Oct 23. In the last-reported quarter, the company delivered an earnings surprise of 35.7%.
The Zacks Consensus Estimate for third-quarter bottom line is pegged at a loss of 35 cents. Notably, the company reported earnings of 10 cents in the year-ago quarter. The consensus mark for revenues stands at $743.3 million, suggesting a decline of 23.1% from the prior-year quarter.
Bloomin Brands, Inc. Price and EPS Surprise
Factors to Note
The coronavirus pandemic is likely to have materially affected Bloomin' Brands third-quarter performance. Dismal traffic owing to the pandemic might have negatively impacted the to-be-reported quarter’s performance. Moreover, dismal Restaurant sales and Franchise and other revenues are likely to have hurt the third-quarter top line. The Zacks Consensus Estimate for Restaurant sales and Franchise and other revenues stands at $725 million and $7.7 million, indicating a decline of 23.8% and 51.6%, respectively, from the prior-year quarter.
However, robust off-premise sales are likely to have contributed to the company’s to-be-reported quarter’s performance. The company has been focusing on improving off-premise sales after the coronavirus outbreak.
What Our Model Says
Our proven model conclusively predicts an earnings beat for Bloomin' Brands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Bloomin' Brands has an Earnings ESP of +22.49%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks from the Zacks Retail-Wholesale space that investors may consider as our model shows that these too have the right combination of elements to post an earnings beat this quarter:
Chuy's Holdings, Inc. CHUY currently has a Zacks Rank #1 and an Earnings ESP of +2.94%.
McDonald's Corporation MCD has a Zacks Rank #2 and an Earnings ESP of +1.56%.
Papa John's International, Inc. PZZA has a Zacks Rank #3 and an Earnings ESP of +0.52%.
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McDonalds Corporation (MCD): Free Stock Analysis Report
Papa Johns International, Inc. (PZZA): Free Stock Analysis Report
Chuys Holdings, Inc. (CHUY): Free Stock Analysis Report
Bloomin Brands, Inc. (BLMN): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.