Bloomin’ Brands raised full-year guidance after adjusted Q2 EPS rose 18% to 39 cents, surpassing estimates.
Bloomin’ Brands (BLMN) shares jumped over 40% Wednesday following a robust earnings report. Adjusted second-quarter earnings per share climbed 18% to 39 cents, exceeding FactSet consensus estimates. Sales increased 1% to $1.015 billion.
The company, which operates Outback Steakhouse and other chains, also raised its full-year guidance. The results reflect diners’ willingness to absorb higher menu prices amid steady demand.
The stock neared an all-time high, with recent upgrades to its IBD Relative Strength Rating signaling improving momentum.