Bloomin Brands Inc (FRA:BOO)

Q4 2024 Bloomin' Brands Inc Earnings Call Transcript

Feb 26, 2025 / 01:30 PM GMT

Release Date Price: €11.3 (+0.89%)

Transcript 10-K8-K

Key Points

Positve

Bloomin Brands Inc (BLMN) has initiated a holistic strategy to improve business results in 2025, focusing on simplifying operations and enhancing guest experiences.
The company has refranchised its Brazil operations, retaining a 33% ownership, which de-risks the business model and allows management to focus on domestic growth.
BLMN is implementing a menu simplification strategy, reducing menu items by 10-20% to improve quality and operational efficiency.
The introduction of Ziosk technology at Outback is expected to enhance guest satisfaction and operational efficiency, with 80% of guests using pay-at-the-table features in test locations.
The company is focusing on sustainable traffic and sales growth by improving quality, value, and guest experience, with a particular emphasis on turning around the Outback brand.

Negative

Bloomin Brands Inc (BLMN) underperformed the industry in Q4 2024, losing market share by 260 basis points on sales and 410 basis points on traffic.
The company's Q4 2024 revenues were down 8% from the previous year, primarily due to the absence of a 53rd week and restaurant closures.
BLMN's Q4 adjusted operating margins declined to 4.4% from 7.5% the previous year, impacted by inflationary pressures on labor and restaurant operating expenses.
The company reported a GAAP diluted earnings per share loss of $0.93 in Q4 2024, compared to a profit of $0.45 in 2023, due to impairments and tax expenses related to the Brazil transaction.
BLMN's guidance for 2025 anticipates flat to negative 2% US comparable restaurant sales, with continued pressure from labor and commodity inflation.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BLMN.OQ - Bloomin' Brands Inc
Q4 2024 Bloomin' Brands Inc Earnings Call
Feb 26, 2025 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Bloom and Brand's fiscal 4th quarter 2024 earnings conference call.

At this time all participants are in a listen-only mode.

A brief question and answer session will follow management's prepared remarks. Today's event is being recorded. It's not my pleasure to introduce your host Carol Kurian, Vice President, corporate finance at Investor Relations.

Thank you, Ms. Koran. You may begin.

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Unidentified_2 [2]
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Thank you and good morning everyone. With me on today's call are Mike Spanos, our Chief

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