Bloomin' Brands Q2 adj. EPS $0.51 vs $0.70 YoY; cuts FY 2024 guidance

Bloomin' Brands, Inc.

2024-Q2 EPS reported -$0.64 revenue$2,314,193,000

Q2 GAAP EPS $0.32; adjusted EPS $0.51, down from $0.70 YoY.
Total revenue $1,118.9M, down 2.9% YoY; restaurant-level margin 14.3% (down 210 bps).
U.S. comparable sales flat (-0.1% combined); Outback Steakhouse flat.
Cuts FY 2024 adjusted EPS guidance to $2.10-$2.30 from $2.51-$2.66; U.S. comps now -1% to flat.
Declared quarterly dividend $0.24/share; repurchased 9.9M shares YTD for $263.1M.

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