Why Bloomin' Brands Shares Are Rising Today

Bloomin' Brands Inc BLMN shares are trading higher after the company reported Q4 financial results.

What Happened: Bloomin’ Brands reported quarterly EPS of $0.68 which beat the analyst consensus estimate of $0.64. The company also reported quarterly sales of $1.09 billion which missed the analyst consensus estimate of $1.12 billion.

"We are pleased with our results in 2022 where we delivered profits and margins well above pre-pandemic levels despite significant inflation," said David Deno, CEO of Bloomin' Brands. "All U.S. brands finished the year with positive comparable restaurant sales and our Brazil business achieved record levels of profits and sales."

For full-year 2023, Bloomin’ Brands anticipates adjusted EPS between $2.91 and $3.

Bloomin' Brands is a restaurant holding company that owns several American casual dining restaurant chains, including Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill.

See Also: Why Boston Beer Stock Is Trading Lower

BLMN Price Action: Bloomin' Brands has a 52-week high of $25.61 and a 52-week low of $15.89.

Bloomin' Brands shares are up 8.5% at $27.01 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Bloomin' Brands.