BLMN Stock Recent News

Besides Wall Street's top -and-bottom-line estimates for Bloomin' Brands (BLMN), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2023.

TAMPA, Fla.--(BUSINESS WIRE)--Bloomin' Brands, Inc. (Nasdaq: BLMN) will release results for the fiscal fourth quarter ended December 31, 2023, on Friday, February 23, 2024, at approximately 6:45 AM EST, which will be followed by a conference call to review its financial results at 8:00 AM EST the same day. The call will be webcast live from the Company's website at http://www.bloominbrands.com under the Investors section. A replay of this webcast will be available on the Company's website after.

Bloomin' Brands looks undervalued compared to its, likely, two closest peers. Starboard Value's very large stake in the company shows it sees a real opportunity there. The recently announced Cooperation Agreement kickstarts Starboard's involvement in the company's management and has great potential to increase shareholder value.

Shares of Outback Steakhouse parent Bloomin' Brands (BLMN) jumped in early trading Wednesday before paring back gains after announcing two new board members.

Bloomin' Brands Inc, owner of the Outback Steakhouse chain of restaurants, saw its share price rise 3% to $28.06 in early Wednesday trading after Dave George, former chief operating officer of Darden Restaurants (NYSE:DRI), and Starboard Value partner Jon Sagal were appointed to the company's board of directors.    The appointments were made as part of a cooperation agreement between Bloomin' Brands and Starboard, which owns about 9.7% of the company's outstanding common shares.

Sure, the S&P 500 has come on strong since late October, but if you compare the three-month performance of the SPDR S&P 500 ETF Trust NYSEARCA: SPY versus the SPDR Portfolio S&P 600 Small Cap ETF NYSEARCA: SPSM:

Bloomin' Brands' upside remains attractive despite a fall in share price since my last writeup. Total revenue for BLMN was $1.08 billion, with a positive growth outlook for 4Q23. The company's RLP margin may face headwinds due to elevated beef prices.

Bloomin' Brands, Inc. (NASDAQ:BLMN ) Q3 2023 Earnings Conference Call November 3, 2023 8:00 AM ET Company Participants Tara Kurian - Vice President, Corporate Finance and Investor Relations David Deno - Chief Executive Officer Chris Meyer - Executive Vice President and Chief Financial Officer Conference Call Participants Jeffrey Bernstein - Barclays Alex Slagle - Jefferies Sharon Zackfia - William Blair John Ivankoe - JPMorgan Jeff Farmer - Gordon Haskett Katherine Griffin - Bank of America Brian Vaccaro - Raymond James Operator Good morning, and welcome to the Bloomin' Brands, Inc. Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

Bloomin' Brands (BLMN) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.35 per share a year ago.

Outback Steakhouse parent Bloomin' Brands Inc.'s stock BLMN, +0.55% tumbled 6.7% premarket Friday, after the company cut its full-year guidance to reflect a soft casual dining environment. The company is now expecting full-year adjusted EPS of $2.80 to $2.90, down from prior guidance of $2.91 to $3.00.