Bloomin' Brands swings to $83.87m loss in Q1 2024 [Yahoo! Finance]
Bloomin' Brands, Inc. (BLMN)
Last bloomin' brands, inc. earnings: 2/18 07:00 am
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US:NASDAQ Investor Relations:
investors.bloominbrands.com/investor-relations
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Source: Yahoo! Finance
For the quarter ending 31 March 2024, the company's total revenues fell to $1.19bn from $1.24bn in the corresponding period of 2023. Restaurant sales during the quarter stood at $1.18bn as against $1.23bn in Q1 2023. Franchise and other revenues declined to $15.84m from $16.51m in Q1 2023. Bloomin' Brands Q1 2024 total costs and expenses were $1.12bn, almost the same as in the equivalent period of the previous year. Income from operations declined to $77.09m from $120.6m in Q1 2023. Bloomin' Brands CEO David Deno said: “The first quarter was a solid start to the year, as sales and profit met our expectations. “After a slower start, sales trends strengthened throughout the quarter. Our sales performance is well ahead of the casual dining industry as our marketing and operations initiatives are paying off, especially at Outback.” Deno has also announced his retirement in 2024 after 12 years with the company. For the last five years of his tenure, Deno served as the CEO
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News
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- Bloomin' Brands, Inc. (NASDAQ: BLMN) had its price target lowered by analysts at Barclays PLC from $32.00 to $30.00. They now have an "overweight" rating on the stock.MarketBeat
- Bloomin' Brands, Inc. (NASDAQ:BLMN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Bloomin' Brands, Inc. (NASDAQ: BLMN) had its price target lowered by analysts at BMO Capital Markets from $29.00 to $27.00. They now have a "market perform" rating on the stock.MarketBeat
BLMN
Earnings
- 5/7/24 - Miss
BLMN
Sec Filings
- 5/8/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 5/6/24 - Form 4
- BLMN's page on the SEC website