BLMN Stock Recent News

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.

The post-pandemic pent-up demand generated travel boom may be starting to normalize based on recent data from the airlines. Airlines have cut forecasts but insist demand is still there.

TAMPA, Fla.--(BUSINESS WIRE)--Bloomin' Brands, Inc. (Nasdaq: BLMN) will release results for the fiscal third quarter ended September 24, 2023, on Friday, November 3, 2023, 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.

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.

Restaurant stocks corrected over the summer due to tepid guidance, setting up a new opportunity for income investors. The guidance calls for growth but slowing growth to be offset by wider margins.

Brian Vaccaro, restaurant analyst at Raymond James, joins 'The Exchange' to discuss signs of a decline in dining out, breakfast restaurants gaining share from other parts of the restaurant business, and more.

Bloomin' Brands is a casual dining restaurant chain that has made changes and improvements during the pandemic. BLMN's valuation is still attractive compared to peers in the industry. Short-term uncertainties, such as modest SSS growth and the Brazil VAT tax, may cause stock price volatility.