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Bloomin' Brands profit misses consensus by 20.4% in fiscal Q2

Bloomin' Brands Inc. said its normalized net income for the fiscal second quarter ended June 26 came to 24 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS fell year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.6 million, a decline of 13.9% from $30.9 million in the year-earlier period.

The normalized profit margin dropped to 2.4% from 2.8% in the year-earlier period.

Total revenue declined year over year to $1.08 billion from $1.10 billion, and total operating expenses declined from the prior-year period to $1.02 billion from $1.04 billion.

Reported net income totaled a loss of $9.1 million, or a loss of 8 cents per share, compared to income of $32.8 million, or 26 cents per share, in the year-earlier period.