The earnings call presented challenges including declining sales and traffic, particularly at Outback Steakhouse, and reduced earnings guidance. However, there were strategic initiatives and partnerships aimed at addressing these issues, alongside notable resilience and community support during recent hurricanes. Despite these efforts, the overall sentiment leans negative due to the significant financial declines and operational challenges.

Company Guidance

During the Bloomin' Brands Q3 2024 earnings call, the management provided updated guidance reflecting the challenging industry environment, recent hurricane impacts, and current execution levels. Total revenues in Q3 were $1 billion, reflecting a 4% year-over-year decrease, driven by a decline in comparable restaurant sales and unfavorable FX translation. U.S. comparable restaurant sales were down 150 basis points, with a traffic decline of 440 basis points. The company is revising its full-year comparable sales guidance to a range of -1% to -0.5%, and adjusted diluted EPS guidance to between $1.72 and $1.82, considering no industry trend improvement. Q3 adjusted operating margins decreased to 3% from 5.3% last year, impacted by labor inflation and higher operating expenses. Additionally, Bloomin' Brands announced a strategic partnership with Vinci Partners for its Brazil operations, retaining a 33% ownership stake, with the transaction expected to close by year-end.

Partnership with Vinci Partners for Brazil Operations

Bloomin' Brands announced a strategic partnership with Vinci Partners, selling 67% of its Brazil operations for 2.06 billion Brazilian reais. The company will retain a 33% ownership stake, expecting to enhance growth in Brazil with local expertise.

Operational Focus and Strategic Growth Potential

CEO Michael Spanos emphasized a focus on operational excellence, guest experience, and strategic growth, particularly with the Outback Steakhouse and Carrabba's brands.

Resilience During Hurricanes

Bloomin' Brands demonstrated resilience and community support during Hurricane Helene and Hurricane Milton, including a $500,000 donation to the American Red Cross.

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Bloomin' Brands (BLMN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BLMN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 13, 2025	2024 (Q4)	0.37 / -	0.75	―	―	―
Nov 08, 2024	2024 (Q3)	0.20 / 0.21	0.44	-52.27% (-0.23)	―
Aug 06, 2024	2024 (Q2)	0.58 / 0.51	0.74	-31.08% (-0.23)	―
May 07, 2024	2024 (Q1)	0.74 / 0.70	0.98	-28.57% (-0.28)	―
Feb 23, 2024	2023 (Q4)	0.69 / 0.75	0.68	10.29% (+0.07)	―
Nov 03, 2023	2023 (Q3)	0.41 / 0.44	0.35	25.71% (+0.09)	―
Aug 01, 2023	2023 (Q2)	0.64 / 0.74	0.68	8.82% (+0.06)	―
Apr 28, 2023	2023 (Q1)	0.89 / 0.98	0.8	22.50% (+0.18)	―
Feb 16, 2023	2022 (Q4)	0.64 / 0.68	0.6	13.33% (+0.08)	―
Oct 28, 2022	2022 (Q3)	0.34 / 0.35	0.57	-38.60% (-0.22)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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BLMN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 08, 2024	$16.47	$14.87	-9.71%
Aug 06, 2024	$17.72	$16.45	-7.17%
May 07, 2024	$23.94	$22.98	-4.01%
Feb 23, 2024	$25.29	$26.03	+2.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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