Bloomin’ Brands Inc. on Friday reported a lower fourth-quarter profit, but its adjusted earnings for the period beat analyst estimates on a strong holiday season. The owner of Outback Steakhouse, Carrabba’s Italian Grill and Bonefish Grill also estimated an impact of 5 cents a share in the first quarter due to bad weather in the first three weeks of the year.
Bloomin’ Brands
BLMN,
-0.56%
said its profit for the three months ended Dec. 31 dropped to $43.27 million, or 45 cents a share, from $48.05 million, or 61 cents a share in the year-ago quarter. Adjusted fourth-quarter profit of 75 cents as share beat the FactSet consensus estimate of 69 cents a share. Fourth-quarter revenue rose to just under $1.2 billion from $1.1 billion in the year-ago period and matched the analyst estimate. “The fourth quarter was a good finish to 2023, especially the holiday season,” Chief Executive David Deno said in a statement. Bloomin’ Brands stock was down 0.4% in premarket trading. Looking ahead, Bloomin’ Brands expects first-quarter adjusted profit of 70 to 75 cents a share, belo …
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Bloomin’ Brands
BLMN,
-0.56%
said its profit for the three months ended Dec. 31 dropped to $43.27 million, or 45 cents a share, from $48.05 million, or 61 cents a share in the year-ago quarter. Adjusted fourth-quarter profit of 75 cents as share beat the FactSet consensus estimate of 69 cents a share. Fourth-quarter revenue rose to just under $1.2 billion from $1.1 billion in the year-ago period and matched the analyst estimate. “The fourth quarter was a good finish to 2023, especially the holiday season,” Chief Executive David Deno said in a statement. Bloomin’ Brands stock was down 0.4% in premarket trading. Looking ahead, Bloomin’ Brands expects first-quarter adjusted profit of 70 to 75 cents a share, belo …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]