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Bloomin' Brands Slashes FY24 Outlook - Update

RTTNews | 406 days ago

Bloomin' Brands Slashes FY24 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Bloomin' Brands, Inc. (BLMN) slashed its adjusted earnings guidance for the full-year 2024. The company also provided outlook for the third quarter.

For the third quarter, the company expects earnings in a range of $0.15 to $0.23 per share and adjusted earnings in a range of $0.17 to $0.25 per share on U.S. comparable restaurant sales decline between 2 percent and flat.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.39 per share on revenues of $1.07 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects earnings in a range of $0.25 to $0.45 per share and adjusted earnings in a range of $2.10 to $2.30 per share on U.S. comparable restaurant sales decline between 1 percent and flat.

Previously, the company expected earnings in a range of $0.79 to $0.94 per share and adjusted earnings in a range of $2.51 to $2.66 per share on U.S. comparable restaurant sales growth between flat and 2 percent.

The Street is looking for earnings of $2.41 per share on revenues of $4.52 billion for the year.

On July 23, 2024, our Board of Directors declared a quarterly cash dividend of $0.24 per share, payable on September 4, 2024 to stockholders of record at the close of business on August 20, 2024.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

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Bloomin' Brands Appoints Michael Spanos To Succeed David Deno As CEO

Bloomin' Brands Appoints Michael Spanos To Succeed David Deno As CEO

Bloomin' Brands, Inc. (BLMN) announced Monday that Michael Spanos has been appointed Chief Executive Officer of the company. Spanos will begin his new role in Tampa on September 3, 2024.

RTTNews | 386 days ago

FTSE 100 Drifts Lower For 3rd Straight Session

FTSE 100 Drifts Lower For 3rd Straight Session

U.K. stocks are exhibiting weakness on Tuesday, losing ground for a third straight session, as investors react to the nation's jobs data, and await the Bank of England's monetary policy announcement due later in the week.

RTTNews | 32 minutes ago

CAC 40 Down Marginally In Lackluster Trade

CAC 40 Down Marginally In Lackluster Trade

The French market is down marginally on Tuesday with stocks moving in a tight band ahead of the Federal Reserve's monetary policy meeting. The Fed is widely expected to cut interest rates by 25 basis points on Wednesday.

RTTNews | 57 minutes ago

DAX Drifts Lower Ahead Of Fed Policy Meeting

DAX Drifts Lower Ahead Of Fed Policy Meeting

German stocks are down in negative territory on Tuesday with investors mostly staying cautious, focusing on the Federal Reserve's monetary policy meeting, which gets underway today, and the ongoing trade talks between China and the U.S.

RTTNews | 1h 37min ago

German Economic Sentiment Rises In September

German Economic Sentiment Rises In September

German economic confidence improved in September but financial market experts remained cautiously optimistic, a monthly survey conducted by the think tank ZEW showed on Tuesday. The ZEW indicator of economic confidence rose unexpectedly to 37.3 in September from 34.7 in the previous month. The score was expected to fall to 27.3.

RTTNews | 1h 46min ago

Sensex, Nifty End Notably Higher As India-US Trade Talks Resume

Sensex, Nifty End Notably Higher As India-US Trade Talks Resume

Indian shares rose notably on Tuesday as the U.S. and India stepped up talks to resolve their trade tensions, with two separate teams of officials meeting in New Delhi this week, following weeks of diplomatic friction.

RTTNews | 1h 53min ago

European Shares Subdued Ahead Of Fed Meeting

European Shares Subdued Ahead Of Fed Meeting

European stocks were flat to slightly lower on Tuesday and the U.S. dollar slipped to an over two-month low ahead of the start of a two-day policy meeting of the Federal Reserve later in the day, with traders eyeing a widely expected 25 bps rate cut.

RTTNews | 3h 20min ago

U.S. Dollar Falls Amid Fed Rate Cut Speculation

U.S. Dollar Falls Amid Fed Rate Cut Speculation

The U.S. dollar weakened against other major currencies in the Asian session on Tuesday, as traders have already factored in a rate cut by the US Fed as a "certainty."

RTTNews | 3h 40min ago

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