Bloomin' Brands (BLMN) stock surged 7.19% in pre-market trading on Wednesday after the restaurant operator reported better-than-expected first-quarter results and reaffirmed its full-year guidance despite navigating a challenging economic environment.

The company, which owns popular restaurant chains such as Outback Steakhouse and Bonefish Grill, reported adjusted earnings of $0.59 per share for the quarter ended March 31, surpassing analysts' expectations of $0.56 per share. Revenue came in at $1.05 billion, slightly ahead of the projected $1.03 billion.

While Bloomin' Brands experienced a slight decline in comparable sales, with Outback Steakhouse seeing a 1.3% drop and Bonefish Grill a 4% decrease, the company's Carrabba's Italian Grill and Fleming's Prime Steakhouse & Wine Bar concepts showed positive growth. CEO Mike Spanos acknowledged the "choppy macro environment" but emphasized the company's focus on "abundant everyday value offerings" to navigate these challenges.

Investors were particularly encouraged by Bloomin' Brands' decision to reaffirm its full-year financial guidance, suggesting confidence in its ability to manage through current economic headwinds. For the second quarter, the company expects U.S. comparable restaurant sales to be between -2.5% and -1.5%, with adjusted earnings per share projected at $0.22 to $0.27.

The positive reaction to Bloomin' Brands' results comes as the broader casual dining sector faces uncertainties due to shifting consumer spending patterns. The company's ability to exceed expectations and maintain its outlook in this environment appears to have resonated strongly with investors, driving the significant stock price increase.