BLMN Stock Recent News

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

BLMN, ACLS and AIQUY have been added to the Zacks Rank #5 (Strong Sell) List on August 29, 2024.

Bloomin' Brands Inc. BLMN is the parent company of a diverse group of restaurants, including Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar. I'll comment on the relevance of that later, but right now, growth is slowing to a crawl, and inflation is taking a bite out of the company's earnings.

Although the revenue and EPS for Bloomin' Brands (BLMN) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Bloomin' Brands (BLMN) came out with quarterly earnings of $0.51 per share, missing the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.74 per share a year ago.

Bloomin' Brands Inc.'s stock BLMN, -6.78% fell 2.9% early Tuesday, after the operator of Outhouse Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse & Wine Bar posted weaker-than-expected second-quarter earnings and lowered its full-year guidance. The company had net income of $28.4 million, or 42 cents a share, for the quarter, down from $68.3 million, or 70 cents a share, in the year-earlier period.

Bloomin' Brands (BLMN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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Massive conversions of convertible debt into equity most likely played a major role in the sharp decline in the stock price over the last 4 months. Should one look at the glass half full, though, a sizeable chunk of the debt maturing in 2025 was shed from the company's balance sheet in the process. The company is in discussions with interested parties regarding the sale of its Brazil business, which, if it materializes, would probably mean a hefty windfall of cash for the company.

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