Bloomin’ Brands (NASDAQ:BLMN) unveiled its fourth-quarter results, surpassing Wall Street predictions in earnings but not in revenue, coupled with guidance for the first quarter of 2024 that didn’t meet expectations.
The company reported an earnings per share (EPS) of $0.75, which was higher than the $0.69 forecast by analysts. However, its quarterly revenue was $1.19 billion, slightly below the expected $1.2 billion.
Although the company outperformed earnings expectations, its guidance for the first quarter’s adjusted EPS is set between $0.70 and $0.75, which is below the anticipated $0.76. For the entirety of 2024, Bloomin’ Brands predicts an EPS range of $2.51 to $2.66, compared to the consensus estimate of $2.58. This outlook is based on the projection of U.S. comparable restaurant sales being flat to a potential 2% growth.