Bloomin' Brands (BLMN) stock experienced a significant plummet of 8.7% in the pre-market trading session on Wednesday, following the company's underwhelming fourth-quarter 2024 results and lackluster guidance for the fiscal year 2025.
The casual dining chain reported adjusted earnings per share (EPS) of $0.38 for the fourth quarter, surpassing analysts' expectations of $0.36. However, the company's revenue of $972 million fell short of the consensus estimate of $1.08 billion, representing a substantial 18.6% year-over-year decline.
Adding to investor concerns, Bloomin' Brands issued a disappointing outlook for fiscal 2025. The company projected adjusted EPS to range between $1.20 and $1.40, significantly lower than the consensus estimate of $1.77. Furthermore, Bloomin' Brands anticipated U.S. comparable restaurant sales to be flat or down as much as 2%, contrasting with analysts' expectations of a 1% increase.
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