Bloomin' Brands, Outback Steakhouse's parent company, reported lower Q4 profit due to bad weather, but adjusted earnings surpassed estimates, with Q4 revenue at $1.19B.

Bloomin' Brands, the parent company of Outback Steakhouse, reported a lower Q4 profit due to bad winter weather. Despite this, the adjusted earnings for the period surpassed analyst estimates, driven by a strong holiday season. The company estimated an impact of 5 cents a share in Q1 2024 due to the weather. Its revenue in Q4 2023 reached $1.19 billion, slightly above the analyst estimate.