Bloomin' Brands (BLMN) Q1 Earnings: What To Expect

Restaurant company Bloomin’ Brands (NASDAQ:BLMN) will be reporting results tomorrow morning. Here's what to expect.

Bloomin' Brands met analysts' revenue expectations last quarter, reporting revenues of $1.19 billion, up 9.1% year on year. It was a mixed quarter for the company, with underwhelming earnings guidance for the full year.

Is Bloomin' Brands a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Bloomin' Brands's revenue to decline 3.9% year on year to $1.20 billion, a reversal from the 9.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.74 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bloomin' Brands has missed Wall Street's revenue estimates three times over the last two years.

Looking at Bloomin' Brands's peers in the sit-down dining segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Texas Roadhouse delivered year-on-year revenue growth of 12.5%, meeting analysts' expectations, and Denny's reported a revenue decline of 6.4%, falling short of estimates by 4.5%. Texas Roadhouse traded up 3.6% following the results while Denny's stock price was unchanged.

Read our full analysis of Texas Roadhouse's results here and Denny's results here.

Investors in the sit-down dining segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Bloomin' Brands is down 7.2% during the same time and is heading into earnings with an average analyst price target of $29.5 (compared to the current share price of $25.22).

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