Bloomin' Brands Lowers FY24 Outlook: Sees EPS Of $2.10-$2.30 Vs. $2.41 Estimate (Prior View: $2.51-$2.66); Projects U.S. Comparable Restaurant Sales Down 1% To Flat (Prior View:
Flat To +2%)
Portfolio Pulse from Benzinga Newsdesk
Bloomin' Brands has lowered its FY24 outlook, now expecting EPS of $2.10-$2.30 compared to the previous estimate of $2.41 and prior view of $2.51-$2.66. The company also projects U.S. comparable restaurant sales to be down 1% to flat, versus the prior view of flat to +2%.
August 06, 2024 | 11:18 am
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Bloomin' Brands has revised its FY24 outlook downward, with EPS now expected to be $2.10-$2.30, below the previous estimate of $2.41. U.S. comparable restaurant sales are also projected to be down 1% to flat, compared to the prior view of flat to +2%.
The downward revision in EPS and comparable restaurant sales indicates weaker-than-expected performance, which is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100