BUZZ-Bloomin' Brands plunges after mixed results, dour profit forecast

Reuters
02-27
BUZZ-<a href="https://laohu8.com/S/BLMN">Bloomin' Brands</a> plunges after mixed results, dour profit forecast

** Shares of Outback Steakhouse owner Bloomin' Brands BLMN.O down 17% to $9.88 on Weds after mixed Q4 report, downbeat 2025 profit outlook

** Stock hits lowest levels since Jul 2020, and tracking biggest daily pct decline since Mar 7, 2022

** Tampa, Florida-based casual dining restaurant operator early Weds posted Q4 rev of $972 mln, down from $1.07 bln a year-ago, and adj EPS of $0.38

** Analysts had expected rev of $1.08 bln and adj profit of $0.36, per LSEG data

** Looking ahead, co said anticipates current-qtr adj EPS of $0.55-$0.60 and annual adj earnings of $1.20-$1.40, both shy of consensus estimates of $0.67 and $1.77

** Co expects U.S. comp restaurant sales to be down 0.5%-1.5% in Q1, and flat to down 2% in 2025

** Of 13 analysts covering BLMN, recommendation breakdown is 1 "strong buy", 10 "hold" and 2 "sell"; median PT of $13.50 down from $16 on Nov 26 - LSEG

** With move on Weds, stock has shed nearly two-thirds of its value over the past year

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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