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. (NASDAQ: BLMN) is one of the largest casual dining restaurant companies in the world, with a portfolio that includes Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The BLMN news feed on Stock Titan brings together the company’s official announcements, earnings updates and strategic disclosures in one place.
Investors and followers of Bloomin’ Brands can use this page to review the company’s quarterly and annual financial results, including discussions of restaurant sales, franchise and other revenues, restaurant-level operating margin and adjusted non-GAAP metrics. Earnings releases often highlight comparable restaurant sales for each brand, changes in operating margins, and commentary from management on operating priorities and the broader turnaround strategy, particularly for Outback Steakhouse.
News items also cover topics such as leadership and organizational changes, executive appointments, capital allocation decisions, restaurant openings and closures, and transactions involving international operations or franchise structures. For example, the company has issued releases on leadership appointments in finance, information technology, brand management and human resources, as well as on decisions to close selected U.S. restaurants and adjust its dividend policy as part of its turnaround efforts.
This page is useful for tracking how Bloomin’ Brands communicates its focus on simplifying the business, enhancing the guest experience, managing costs and investing in its restaurant base. By following the BLMN news stream, readers can see how the company’s strategy, portfolio actions and financial performance are described over time across its four major casual dining brands.
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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