Bloomin' Brands: Fourth Quarter Earnings Overview

Bloomin' Brands Reports Fourth Quarter Financial Results

Bloomin' Brands Inc., headquartered in Tampa, Florida, announced a net loss of $13.5 million for its fourth quarter.

This translates to a loss of 16 cents per share. However, after adjusting for one-time expenses and discontinued operations, the company’s earnings stood at 26 cents per share.

These adjusted earnings surpassed analysts’ expectations, as a consensus of six analysts polled by Zacks Investment Research had projected earnings of 25 cents per share.

The parent company of Outback Steakhouse and other casual dining restaurants generated $975.2 million in revenue during the quarter, which was slightly below the $981.5 million anticipated by five Zacks analysts.

For the full year, Bloomin' Brands reported a net profit of $8.2 million, or 10 cents per share, marking a return to profitability. Annual revenue reached $3.96 billion.

Looking ahead to the current quarter ending in March, the company forecasts earnings per share between 57 and 62 cents.

For the entire year, Bloomin' Brands anticipates earnings to fall within the range of 75 to 90 cents per share.

Since the start of the year, the company’s stock has declined by approximately 5%, and over the past 12 months, shares have fallen by 50%.

Financial data provided by Zacks Investment Research. This article was produced by Automated Insights.