Bloomin' Brands raised its full-year earnings guidance after higher menu prices drove second-quarter profit above analyst expectations. The parent of Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar reported net income of $31.3 million, or 36 cents a share, up from $25.4 million a year earlier. Adjusted earnings per share came in at 39 cents, beating the 29-cent consensus, while total revenue rose 1.3% to $1.02 billion. U.S. comparable restaurant sales grew 2.3%, led by an 8.1% jump at Bonefish Grill. The company now sees full-year adjusted diluted EPS of 90 cents to $1, up from its prior 75-to-90-cent range, and narrowed its U.S. comparable sales growth forecast to 1% to 2%. Shares rose 8% to $9.61 in pre-market trading.
Bloomin Brands IncRaises full-year EPS guidance after Q2 beat driven by higher menu prices.
