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Bloomin' Brands Shares Rise After Q1 Adjusted Earnings, Revenue Climb

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Bloomin' Brands (BLMN) shares rose 44% in Wednesday trading after the company reported higher adjusted earnings and revenue for Q1 and also gave upbeat outlook for Q2.

Bloomin' Brands reported Q1 adjusted earnings of $0.67 per diluted share, compared with $0.59 from a year earlier.

Analysts polled by FactSet expected $0.57.

Revenue for the quarter was $1.06 billion, up from $1.05 billion a year ago.

Analysts surveyed by FactSet expected $1.04 billion.

For Q2, the company expects adjusted earnings of $0.27 to $0.32 per share. Analysts expect $0.23.

The company also reaffirmed its full-year financial outlook given in its Feb. 25 earnings release.

Price: $8.37, Change: $+2.61, Percent Change: +45.31%

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