What the bad jobs report means for markets
In a recent Securities and Exchange Commission filing, Bloomin’ Brands, Inc. (NASDAQ:BLMN), currently valued at $720 million and showing a significant 7% dividend yield according to InvestingPro, reported the outcomes of its 2025 Annual Meeting of Stockholders held today. The meeting saw high participation, with over 90% of eligible shares represented, and resulted in the election of ten directors to serve until the 2026 annual meeting. The directors, including James L. Dinkins and Michael Spanos, were elected with a majority of votes for each nominee. This comes at a challenging time for the company, which has seen its stock decline by nearly 67% over the past year.
Additionally, shareholders ratified the appointment of PricewaterhouseCoopers LLP as the company’s independent auditor for the fiscal year ending December 28, 2025. The decision was made with a significant majority of the votes in favor.
The compensation of the company’s named executive officers also received approval on a non-binding advisory basis, despite a notable portion of votes against. Similarly, the frequency of "say-on-pay" votes was determined to be every year, aligning with the majority of shareholder preference.
A new component introduced at the meeting was the Bloomin’ Brands, Inc. 2025 Omnibus Incentive Compensation Plan, which received approval. This plan outlines the framework for restricted stock and performance-based awards for directors and executive management.
Contrary to these approvals, a shareholder proposal advocating for mandatory virtual access at all future stockholder meetings did not pass, indicating a preference for maintaining traditional in-person meetings or a flexible approach to meeting formats.
This SEC filing provides a transparent account of the company’s governance and shareholder engagement efforts, reflecting the priorities and decisions of its investors. With the company’s next earnings report due on May 7, 2025, and analyst targets suggesting potential upside, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks including Bloomin’ Brands.
In other recent news, Bloomin’ Brands Inc. reported its fourth-quarter 2024 earnings, revealing a revenue shortfall against market expectations. The company posted revenues of $972 million, missing the forecasted $1.09 billion. Earnings per share (EPS) met expectations at $0.38. S&P Global Ratings revised its outlook on Bloomin’ Brands from positive to negative, citing shrinking margins and cash flow over the last four quarters. The company’s debt increased as its EBITDA generation declined, with adjusted EBITDA falling nearly 30% year-over-year to $538 million in 2024 from $748 million in 2023. Bloomin’ Brands announced plans to franchise more than 30% of its total restaurants, including a partial sale of its Brazil operation to reduce risk and focus on the company-owned business. The company plans to use the $225 million in proceeds from the sale to repay its revolver. Additionally, Bloomin’ Brands is focusing on remodeling existing restaurants rather than new developments, with capital expenditures projected at $190 to $210 million for 2025.
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