BLMN Stock Recent News

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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Bloomin' Brands, Inc. (NASDAQ:BLMN ) Q1 2024 Earnings Conference Call May 7, 2024 8:00 AM ET Company Participants Tara Kurian - Vice President of Corporate Finance and Investor Relations David Deno - Chief Executive Officer Michael Healy - Chief Financial Officer and Executive Vice President, Global Business Development Conference Call Participants Jeffrey Bernstein - Barclays Capital LLC Alexander Slagle - Jefferies Group LLC John Ivankoe - JPMorgan Chase & Co. Sharon Zackfia - William Blair & Company, LLC Brian Harbour - Morgan Stanley Sara Senatore - BofA Securities, Inc. Lauren Silberman - Deutsche Bank Brian Mullan - Piper Sandler Companies Dennis Geiger - UBS Group AG Andrew Strelzik - BMO Capital Markets Operator Greetings, and welcome to the Bloomin' Brands Fiscal First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Bloomin' Brands (BLMN) came out with quarterly earnings of $0.70 per share, missing the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.98 per share a year ago.

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Bloomin' Brands (BLMN), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended March 2024.

TAMPA, Fla.--(BUSINESS WIRE)--Bloomin' Brands, Inc. (Nasdaq: BLMN) will release results for the fiscal first quarter ended March 31, 2024, on Tuesday, May 7, 2024, at approximately 6:45 AM EDT, which will be followed by a conference call to review its financial results at 8:00 AM EDT 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 the call.

Concentration and a dimming outlook for earnings growth (outside of tech) in 2024 have the S&P 500 NYSEARCA: SPY set up for a correction. It may not happen soon, but signs continue to grow, with investors flooding into market leaders like NVIDIA NASDAQ: NVDA, Advanced Micro Devices NASDAQ: AMD, Amazon NASDAQ: AMZN, and Meta Platforms NASDAQ: META, and expectations for rate cuts are receding.

Bloomin' Brands Inc. NASDAQ: BLMN is among the latest in a series of companies to be getting attention from activist investors who want to see change that would make their shares grow in value.