Bloomin’ Brands Reports Q4 2024 Earnings and 2025 Outlook

Bloomin’ Brands ( (BLMN) ) has released its Q4 earnings. Here is a breakdown of the information Bloomin’ Brands presented to its investors.

Bloomin’ Brands, Inc. is a leading casual dining restaurant company with a diverse portfolio that includes Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar, operating over 1,450 restaurants across the globe.

In its latest earnings report for the fourth quarter of 2024, Bloomin’ Brands reported a diluted loss per share of $(0.93) and an adjusted diluted earnings per share of $0.38. The company also provided a financial outlook for the full year 2025, reflecting strategic shifts and operational adjustments.

Key financial metrics for the fourth quarter showed a decrease in total revenues by 9.3% from continuing operations, primarily due to the absence of a 53rd week in 2024 and the impact of restaurant closures. Operating income margins also saw a decline, influenced by increased costs related to labor, commodities, and advertising, although these were partially offset by gains from foreign currency forward contracts. Comparable restaurant sales in the U.S. showed a mixed performance, with Fleming’s Prime Steakhouse & Wine Bar experiencing a 3.0% increase, while other brands saw declines.

Strategically, Bloomin’ Brands completed the sale of a majority stake in its Brazil operations, transitioning these restaurants to franchise models. The company also announced a quarterly dividend and continued its share repurchase program, indicating a focus on returning value to shareholders.

Looking ahead, Bloomin’ Brands aims to stabilize and grow its operations by addressing near-term execution challenges and implementing cost-saving initiatives. The management remains optimistic about the potential for sustainable sales and profit growth in the coming year.