07:29 AM EST, 11/08/2024 (MT Newswires) -- Bloomin' Brands ( BLMN ) reported fiscal Q3 adjusted earnings Friday of $0.21 per diluted share, down from $0.41 a year earlier.

Analysts polled by Capital IQ expected $0.20.

Revenue for the quarter ended Sept. 29 was $1.04 billion, down from $1.08 billion a year earlier.

Analysts surveyed by Capital IQ estimated $1.04 billion.

The company said its US comparable restaurant sales fell 1.5% in the quarter.

Bloomin' Brands ( BLMN ) said it expects Q4 adjusted earnings of $0.32 to $0.42 per diluted share. Analysts polled by Capital IQ expect $0.67.

US comparable restaurant sales for the quarter are expected to fall by 2% to 1%.

The restaurant company said it now expects 2024 adjusted earnings of $1.72 to $1.82 per diluted share, down from its earlier guidance of between $2.10 and $2.30. Analysts surveyed by Capital IQ expect $2.08.

US comparable restaurant sales for the year are expected to fall by 1% to 0.5%, compared with its prior expectation of flat to 1% lower sales.

BLMN shares fell more than 10% in premarket trading.