BLMN Stock Recent News

While the top- and bottom-line numbers for Bloomin' Brands (BLMN) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Bloomin' Brands NASDAQ: BLMN served mixed results for Q4 and provided tepid guidance, but repositioning efforts have the restaurant stock set up to blossom in 2024. A massive closure effort intended to trim older, underperforming assets in favor of new and new assets is underway, and results have begun to show.

Bloomin' Brands (BLMN) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.68 per share a year ago.

Bloomin' Brands Inc. BLMN, -0.56% on Friday reported a lower fourth-quarter profit, but its adjusted earnings for the period beat analyst estimates on a strong holiday season. The owner of Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill also said the first three weeks of the first quarter were negatively impacted by weather.

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: