Bloomin' Brands, Inc. (NASDAQ:BLMN) Q4 2022 Earnings Conference Call February 16, 2023 8:15 AM ET
Company Participants
Mark Graff - SVP-IR
David Deno - CEO
Chris Meyer - EVP and CFO
Conference Call Participants
Jeffrey Bernstein - Barclays
Alex Slagle - Jefferies
Lauren Silberman - Credit Suisse
John Ivankoe - JPMorgan
Jeff Farmer - Gordon Haskett
Jon Tower - Citigroup
Dennis Geiger - USB
Andrew Strelzik - BMO Capital Markets
Brian Vaccaro - Raymond James
Operator
Greetings, and welcome to the Bloomin' Brands Fiscal Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow management's prepared remarks.
It is now my pleasure to introduce your host, Mark Graff, Senior Vice President of Investor Relations. Thank you, Mr. Graff. You may begin.
Mark Graff
Thank you, and good morning everyone. With me on today's call are David Deno, our Chief Executive Officer; and Chris Meyer, Executive Vice President and Chief Financial Officer. By now you should have access to our fiscal fourth quarter 2022 earnings release. It can also be found on our Web site at bloominbrands.com in the Investors section.
Throughout this conference call, we will be presenting results on an adjusted basis. An explanation of our use of non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures appear in our earnings release on our Web site as previously described.
Before we begin formal remarks, I'd like to remind everyone that part of our discussion today will include forward-looking statements, including a discussion of recent trends. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. Some of these risks are mentioned in our earnings release, others are discussed in our SEC filings which are available at sec.gov.
During today's call, we will provide a brief recap of our financial performance for the fiscal fourth quarter 2022, an overview of company highlights, and an update to 2023 guidance. Once we've completed these remarks, we will open up the call for questions.
And with that, I'd now like to turn the call over to David Deno.
David Deno
Well, thank you, Mark, and welcome to everyone listening today. As noted in this morning's earnings release, adjusted Q4 2022 diluted earnings per share was $0.68 which compares to $0.60 in Q4 2021, up 13%. This is also more than double our 2019 results. Combined U.S comparable sales were up 1.4% with each brand having positive same-store sales, despite challenges from weather events at both the beginning and the end of the quarter.