Bloomin' Brands Misses Q2 Earnings Estimates On Weak Comps, Cuts Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 06 2024
0mins
Should l Buy BLMN?
Source: Benzinga
Earnings Report: Bloomin' Brands reported a second-quarter adjusted EPS of $0.51, missing the analyst consensus of $0.58, with sales of $1.12 billion slightly below expectations and a decrease in operating margins.
Outlook and Stock Performance: The company lowered its FY24 adjusted EPS outlook to $2.10-$2.30 and projected a decline in U.S. comparable restaurant sales, leading to a 2.68% drop in stock price to $17.80 premarket.
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Analyst Views on BLMN
Wall Street analysts forecast BLMN stock price to rise
6 Analyst Rating
2 Buy
3 Hold
1 Sell
Hold
Current: 5.730
Low
6.00
Averages
8.00
High
11.00
Current: 5.730
Low
6.00
Averages
8.00
High
11.00
About BLMN
Bloomin Brands, Inc. is a casual dining restaurant company. It has four founder-inspired brands: Outback Steakhouse, Carrabbas Italian Grill, BonefishGrill, and Flemings Prime Steakhouse & Wine Bar. The Company’s segment includes U.S. and International Franchise. Outback Steakhouse is a casual steakhouse restaurant concept focused on steaks, bold flavors and Australian decor. Carrabbas Italian Grill offers authentic Italian cuisine passed down from its founder's family recipes. Bonefish Grill specializes in fish from around the world, hand-cut in-house every day, savory wood-grilled specialties, and locally created seasonal partner selection dishes. Flemings Prime Steakhouse & Wine Bar is a contemporary interpretation of the classic American steakhouse, boasting culinary mastery, signature style and unrivaled attentive service to create memorable dining experiences for guests. The Company owns, operates, and franchises over 1,450 restaurants in 46 states, Guam and 12 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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