Bloomin' Brands Q2 Bottomline Exceeds Expectations; Reaffirms FY23 Guidance
Portfolio Pulse from Nabaparna Bhattacharya
Bloomin' Brands reported Q2 FY23 sales growth of 2.4% YoY to $1.153 billion, in line with consensus. Adjusted EPS of $0.74 beat the analyst consensus of $0.63. The company reaffirmed its FY23 guidance and declared a quarterly cash dividend of $0.24 per share. Despite the positive results, BLMN shares are trading lower by 5.4%.
August 04, 2023 | 9:10 am
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Bloomin' Brands reported better than expected Q2 results and reaffirmed its FY23 guidance. However, its stock price fell by 5.4%.
Bloomin' Brands reported strong Q2 results and reaffirmed its FY23 guidance, which typically would be positive for the stock. However, despite the positive earnings report, the stock price fell by 5.4%. This could be due to a variety of factors not mentioned in the article, such as broader market conditions, investor sentiment, or other company-specific news.
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