Weather Impact and Forecasted Profit for 2024
- Bloomin’ Brands reports lower Q4 profit
- Adjusted earnings beat analyst estimates
- First quarter negatively impacted by weather
- Estimated impact on U.S. comparable sales and adjusted earnings per share
- Fourth-quarter revenue matches analyst estimate
- 2024 adjusted profit forecast below analyst estimate
Bloomin’ Brands Inc. reported a lower fourth-quarter profit, but its adjusted earnings for the period beat analyst estimates. The first three weeks of the first quarter were negatively impacted by weather, resulting in an estimated impact on U.S. comparable sales and adjusted earnings per share. Despite the lower profit, fourth-quarter revenue matched the analyst estimate. Looking ahead, Bloomin’ Brands expects a lower adjusted profit for the first quarter and a forecasted adjusted profit for 2024 that is below the analyst estimate.
Factuality Level: 8
Factuality Justification: The article provides specific details about Bloomin’ Brands Inc.’s fourth-quarter performance, including profit, adjusted earnings, impact of weather, and future forecasts. The information is based on actual financial results and analyst estimates, without any apparent bias or sensationalism. The article is focused on the main topic without unnecessary digressions or tangential details.
Noise Level: 3
Noise Justification: The article provides relevant information about Bloomin’ Brands Inc.’s fourth-quarter performance, including profit, adjusted earnings, impact of weather, and future forecasts. It stays on topic and supports its claims with data and estimates. However, it lacks in-depth analysis, accountability, and actionable insights, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the financial performance of Bloomin’ Brands Inc. (BLMN), the owner of Outback Steakhouse, Carrabba’s Italian Grill, and Bonefish Grill. It provides information on the company’s lower fourth-quarter profit, adjusted earnings, and its impact on U.S. comparable sales and adjusted earnings per share. It also mentions the company’s stock performance in premarket trading.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not describe any extreme event.
Public Companies: Bloomin’ Brands Inc. (BLMN)
Key People: David Deno (Chief Executive)
Reported publicly:
www.marketwatch.com 
