Bloomin' Brands (BLMN) reports Q3: everything you need to know ahead of earnings

Restaurant company Bloomin’ Brands (NASDAQ:BLMN) will be announcing earnings results this Friday before the bell. Here’s what you need to know.

Bloomin' Brands beat analysts’ revenue expectations last quarter, reporting revenues of $1.02 billion, up 1.3% year on year. It was a strong quarter for the company, with full-year EPS guidance exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

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

This quarter, the market is expecting Bloomin' Brands’s revenue to be flat year on year, improving from the 10.6% decrease it recorded in the same quarter last year.

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

Looking at Bloomin' Brands’s peers in the sit-down dining segment, some have already reported their Q3 results, giving us a hint as to what we can expect. The Cheesecake Factory delivered year-on-year revenue growth of 13.9%, beating analysts’ expectations by 2.7%, and Brinker International reported revenues up 9.4%, topping estimates by 1.2%. The Cheesecake Factory traded down 2.5% following the results while Brinker International was up 11.8%.

Read our full analysis of The Cheesecake Factory’s results here and Brinker International’s results here.

There has been positive sentiment among investors in the sit-down dining segment, with share prices up 15.6% on average over the last month. Bloomin' Brands is up 29.7% during the same time and is heading into earnings with an average analyst price target of $12.06 (compared to the current share price of $10.81).

ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.

AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.