Bloomin Brands Inc (BLMN)

Interest coverage

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	325,144	352,432	345,525	343,798	330,421	324,770	288,298	325,216	308,958	223,234	194,142	-42,407	-174,973	-124,557	-88,344	67,028	191,090	169,333	159,912	149,376
Interest expense (ttm)	US$ in thousands	694	553	406	276	172	148	138	125	129	141	144	150	160	175	202	12,613	23,748	35,401	46,937	45,808
Interest coverage		468.51	637.31	851.05	1,245.64	1,921.05	2,194.39	2,089.12	2,601.73	2,395.02	1,583.22	1,348.21	-282.71	-1,093.58	-711.75	-437.35	5.31	8.05	4.78	3.41	3.26

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $325,144K ÷ $694K
= 468.51

The interest coverage ratio for Bloomin Brands Inc has been relatively stable and healthy over the past eight quarters, showing a consistent trend of around 6.5 to 7. This indicates that the company's operating income is sufficient to cover its interest expenses by a comfortable margin. The gradual improvement in the interest coverage ratio from Q2 2022 to Q2 2023 suggests the company is better positioned to meet its financial obligations. Overall, the consistent and strong interest coverage ratio reflects the company's ability to manage its debt obligations effectively and indicates a lower risk of default.