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Bloomin' Brands profit misses consensus by 29.5% in fiscal Q3

Bloomin' Brands Inc. said its normalized net income for the fiscal third quarter ended Sept. 25 was 14 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS rose 12.6% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $15.5 million, an increase from $15.3 million in the prior-year period.

The normalized profit margin increased to 1.5% from 1.5% in the year-earlier period.

Total revenue declined year over year to $1.01 billion from $1.03 billion, and total operating expenses declined year over year to $969.5 million from $986.2 million.

Reported net income grew 24.8% from the prior-year period to $20.2 million, or 18 cents per share, from $16.2 million, or 13 cents per share.