Bloomin’ Brands, Inc. (BLMN) shares tumbled on Friday after the restaurant company reported disappointing third-quarter results and lowered its full-year outlook. The company missed revenue expectations and saw a decline in comparable restaurant sales, driven by lower consumer spending and inflationary pressures. Bloomin’ Brands also announced the sale of a majority stake in its Brazilian operations and plans to focus on its Outback Steakhouse brand moving forward.
Bloomin’ Brands, the parent company of popular restaurant chains like Outback Steakhouse and Carrabba’s Italian Grill, is set to release its third-quarter earnings on Friday, November 8th. While analysts anticipate a decline in earnings compared to the previous year, the company’s recent CEO appointment and revenue projections offer insights into its current performance and future direction. This article analyzes analyst sentiment surrounding BLMN stock ahead of the earnings release.
