Bloomin’ Brands, Inc. (NASDAQ:BLMN) unwinded its third quarter earnings results on Friday 23rd October 2020 before market open.
The companyreported $ 0.20 loss per share for the third quarter. On adjusted basis, Bloomin’ Brands, Inc. reported loss for the quarter of $ 0.12 per share, beat the consensus estimate of $ 0.35 loss per share by $ 0.23 or 65.71 percent.
The firm had revenue of $ 771.26 million for the quarter, compared to the consensus estimate of $ 745.03 million. The revenues outshined analysts estimates by $ 26.23 million or 3.52 percent.
The financial report showed revenues fell 20.25 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
David Deno, Chief Executive Officer, stated, Our priorities remain unchanged as we are focused on taking care of our people and serving food in an environment that protects both team members and customers. Maintaining a motivated, well trained, and engaged employee base that is committed to providing a safe dining experience is critical to our long-term success. The decision not to furlough any employees during the pandemic reinforced this principle.
As announced on March 20, 2020, the Company withdrew its 2020 financial guidance for the fiscal year ending December 27, 2020. Due to the current global market and economic conditions as a result of COVID-19, the Company will not provide guidance for the remainder of the year.
