Company cuts full-year guidance in a soft market

  • Outback Steakhouse parent Bloomin’ Brands stock slides after company lowers guidance
  • Full-year adjusted EPS guidance lowered to $2.80 to $2.90
  • Same-store sales expected to rise 1.5% to 2%
  • Net income in Q3 increased to $44.5 million
  • Combined U.S. same-store sales fell 0.5%
  • CEO remains focused on driving traffic and maintaining margins

Outback Steakhouse parent Bloomin’ Brands Inc. saw its stock tumble 6.7% after the company lowered its full-year guidance due to a soft casual dining environment. The company now expects adjusted EPS of $2.80 to $2.90, down from the previous guidance of $2.91 to $3.00. Same-store sales are projected to rise 1.5% to 2%, compared to the previous guidance of 2% to 4%. Despite an increase in net income to $44.5 million in Q3, combined U.S. same-store sales fell 0.5%. CEO David Deno remains focused on driving traffic and maintaining margins amidst the challenging sales environment.

Factuality Level: 8
Factuality Justification: The article provides specific information about Bloomin’ Brands Inc.’s stock performance and the company’s revised guidance for the full year. It includes financial figures and quotes from the CEO. However, it does not provide any analysis or context for the stock’s decline or the casual dining environment. The article also does not mention any potential factors that may have contributed to the decline in same-store sales.
Noise Level: 4
Noise Justification: The article provides relevant information about Bloomin’ Brands Inc.’s stock performance and the company’s revised guidance. It includes financial data and quotes from the CEO. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people. The article stays on topic and supports its claims with data, but it does not provide actionable insights or new knowledge.
Financial Relevance: Yes
Financial Markets Impacted: The stock price of Bloomin’ Brands Inc. (BLMN) is expected to be impacted.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses Bloomin’ Brands Inc.’s stock performance and its revised full-year guidance. However, there is no mention of an extreme event.
Public Companies: Bloomin’ Brands Inc. (BLMN)
Private Companies: Outback Steakhouse,Carrabba’s Italian Grill,Bonefish Grill,Fleming’s Prime Steakhouse & Wine Bar
Key People: David Deno (CEO)

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