Welcome to our dedicated page for Bloomin' Brands news (Ticker: BLMN), a resource for investors and traders seeking the latest updates and insights on Bloomin' Brands stock.
Bloomin' Brands, Inc., trading under the symbol BLMN, is a renowned player in the casual dining restaurant sector. Established in 1988 in Tampa, Florida, the company has grown from its humble beginnings to become a global powerhouse, recognized for its distinctive dining experiences and commitment to customer satisfaction.
The company's portfolio boasts a variety of well-known restaurant brands including Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar. These brands are celebrated for their unique themes and high-quality food and service. Outback Steakhouse, for example, is famed for its Australian-themed ambiance and its slogan 'No rules, just right', which underscores the company's dedication to customer enjoyment.
Bloomin' Brands operates a mix of company-owned and franchised restaurants. In the United States, where it derives the majority of its revenue, the company owns and operates most of its restaurants. Internationally, Bloomin' Brands has a significant presence in countries like Brazil and South Korea with company-owned Outback and Carrabba's locations. Additionally, the company has franchised operations across various countries, particularly in Asia.
Financially, Bloomin' Brands manages its operations through two reportable segments: U.S. and International. This segmentation helps streamline operations and focus resources effectively across different markets. The international segment includes all restaurants outside the U.S., ensuring a tailored approach to each region's market dynamics and consumer preferences.
Recent achievements for Bloomin' Brands include expanding its footprint globally and innovating its menu offerings to meet evolving customer tastes. The company continues to prioritize quality and service excellence, reinforcing its commitment to providing memorable dining experiences.
For investors and potential stakeholders, Bloomin' Brands represents a solid investment opportunity given its robust brand portfolio, strategic international presence, and consistent focus on operational excellence.
Bloomin' Brands (BLMN) reported Q3 2024 results with total revenues of $1,038.8 million, down 3.8% from Q3 2023. The company posted Q3 diluted EPS of $0.08, compared to $0.45 in Q3 2023, and adjusted diluted EPS of $0.21, down from $0.41. Restaurant-level operating margin decreased to 12.5% from 13.8%. The company announced a strategic re-franchise of Brazil operations, selling 67% to Vinci Partners for approximately $243 million. U.S. comparable restaurant sales declined 1.5% overall, with Fleming's being the only brand showing positive growth at 1.2%. The company updated its 2024 guidance, now expecting U.S. comparable restaurant sales between -1.0% and -0.5%, and adjusted diluted EPS of $1.72 to $1.82.
Bloomin' Brands (Nasdaq: BLMN) has announced its plans to release fiscal 2024 third quarter financial results on Friday, November 8, 2024, at approximately 7:00 AM EST. Following the release, the company will host a conference call at 8:30 AM EST on the same day to review the financial results.
Investors and interested parties can access the live webcast of the earnings call through the company's official website at http://www.bloominbrands.com under the Investors section. For those unable to attend the live call, a replay of the webcast will be made available on the company's website after the event concludes.
Bloomin' Brands, Inc. (NASDAQ: BLMN) has announced the appointment of Michael L. 'Mike' Spanos as its new Chief Executive Officer, effective September 3, 2024. Spanos, who will also join the Board of Directors, comes from Delta Air Lines where he served as Executive Vice President and Chief Operating Officer. He succeeds David Deno, who announced his planned retirement on May 7, 2024.
Spanos brings extensive experience in leading complex, multi-unit businesses, having previously served as CEO of Six Flags Entertainment and held various leadership positions at PepsiCo. The Board of Directors believes his customer-first mindset and operational expertise will benefit Bloomin' Brands' portfolio of restaurant concepts, which includes Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar.
Bloomin' Brands (BLMN) reported Q2 2024 results with diluted EPS of $0.32 and adjusted diluted EPS of $0.51, down from $0.70 in Q2 2023. Total revenues decreased 2.9% to $1,118.9 million. The company faced challenges due to a softer casual dining industry, with U.S. comparable restaurant sales down 0.1%. GAAP operating income margin decreased to 4.1% from 7.8% in Q2 2023.
The company updated its full-year 2024 guidance, now expecting U.S. comparable restaurant sales to be down 1% to flat, and adjusted diluted EPS between $2.10 to $2.30. For Q3 2024, BLMN forecasts U.S. comparable restaurant sales to be down 2% to flat, with adjusted diluted EPS between $0.17 to $0.25.
Despite challenges, BLMN declared a quarterly cash dividend of $0.24 per share and has repurchased 9.9 million shares for $263.1 million year-to-date through August 2, 2024.
Bloomin' Brands, Inc. (Nasdaq: BLMN) has announced its plans to release fiscal 2024 second quarter financial results on Tuesday, August 6, 2024, at approximately 7:00 AM EDT. The company will host a conference call to discuss these results at 8:15 AM EDT on the same day. Investors and interested parties can access the live webcast of the call through the Investors section of the company's website at http://www.bloominbrands.com. For those unable to attend the live call, a replay of the webcast will be made available on the company's website following the event.
Bloomin’ Brands, Inc. (NASDAQ: BLMN) announced that CEO David Deno will be retiring after 12 years with the company, including the last five years as CEO. The Board of Directors is leading the search for his successor, emphasizing Deno's financial achievements during his tenure amidst the challenges of COVID-19, especially in Brazil. Deno will continue in his role until a successor is named.
Bloomin' Brands, Inc. reported Q1 2024 financial results with a diluted EPS of $(0.96) and adjusted diluted EPS of $0.70. The company retired $83.6M of convertible notes. Total revenues decreased by 4.0% due to lower comparable restaurant sales and impacts of restaurant closures. The GAAP operating income margin declined to 6.4% from 9.7% in Q1 2023. The company made strategic moves with dividend declaration, share repurchases, and a 2025 notes retirement. They also closed underperforming restaurants under the 2023 Closure Initiative. The fiscal outlook shows commodity inflation reduced to 2-3% and a shift in effective tax rates. The Company is reviewing strategic alternatives for its Brazil operations to maximize shareholder value.
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