Bloomin’ Brands: Q4 Earnings Snapshot
TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Bloomin’ Brands Inc. (BLMN) on Wednesday reported a loss of $13.5 million in its fourth quarter.
The Tampa, Florida-based company said it had a loss of 16 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 26 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The owner of Outback Steakhouse and other casual dining spots posted revenue of $975.2 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $981.5 million.
For the year, the company reported net income of $8.2 million, or 10 cents per share, swinging to a profit in the period. Revenue was reported as $3.96 billion.
For the current quarter ending in March, Bloomin’ Brands expects its per-share earnings to range from 57 cents to 62 cents.
The company expects full-year earnings in the range of 75 cents to 90 cents per share.
Bloomin’ Brands shares have dropped roughly 5% since the beginning of the year. The stock has decreased 50% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLMN at https://www.zacks.com/ap/BLMN