Bloomin' Brands jumps to near 18-month high on upbeat annual forecast

Bloomin' Brands

16/02/2023 17:08

(Updates)
    ** Shares of restaurant chain Bloomin' Brands  BLMN.O  rise
as much as 10% to $27.48, marking their highest since August
2021
        ** Stock set for its best day in almost nine months
  
    ** Co forecasts full-year U.S. comparable sales and profit
above Wall Street estimates on steady demand for its offerings
and significant improvement in Brazil business
    ** Expects full-year U.S. comparable sales to rise between
2% and 4%, while analysts expect an increase of 2.3%
    ** BLMN sees annual adjusted profit per share of $2.91 to
$3.00, compared to analysts' estimates of $2.70, per Refinitiv
IBES data
    ** Co posts Q4 adjusted profit of 68 cents per share,
beating analysts' estimate of 64 cents
    ** BLMN's Q4 revenue rose 4.6% to $1.10 bln, below estimates
of $1.12 bln
    ** Stock has risen ~17% in the past 12 months
 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))