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
Bloomin' Brands Appoints Michael Spanos To Succeed David Deno As CEO
Canadian Dollar Advances Against Majors
Swiss Market Ends Higher For 2nd Straight Session
Major European Markets Close Slightly Weak
TSX Marches On, Hits Fresh Record High; Materials Stocks Rally
Bank Of Japan Holds Rate Steady; Plans To Lower ETF Holdings
Bay Street Likely To Open On Subdued Note
