Bloomin' Brands Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 delivered revenue growth and improved guest metrics despite weather headwinds and ongoing inflation. All brands except Outback posted positive comp sales, with sequential improvement seen through March and April. Guidance for 2026 is reiterated, with continued investment in restaurant refreshes and digital marketing.
Fiscal Year 2025
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Q4 2025 saw flat U.S. comp sales but traffic gains, outperforming industry traffic for the first time in 2025. The turnaround strategy is underway, with investments in steak quality, service, and restaurant refreshes, and 2026 guidance anticipates modest sales growth, margin pressure from inflation, and increased marketing spend.
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Q3 2025 saw improved sales, guest metrics, and positive comps across all brands, driven by operational focus and value offers. A multi-year turnaround for Outback is underway, with $75M in investments and a shift in marketing strategy to digital. Guidance for 2025 was raised.
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Q2 saw sequential traffic and comp sales improvement, led by Outback's value offer and menu simplification, but margins declined due to inflation and higher costs. Guidance was lowered for 2025, with investments in Outback's turnaround and asset remodels prioritized.
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Q1 revenue declined 1.8% year-over-year with adjusted EPS at $0.59, as Outback underperformed peers and lost share. Menu simplification, cost savings, and operational improvements are underway, but guidance remains cautious due to a choppy macro environment and consumer pullback.
Fiscal Year 2024
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Q4 revenue declined 8% year-over-year, with U.S. comps and traffic underperforming the industry. The company is executing a turnaround focused on menu simplification, operational improvements, and Outback Steakhouse revitalization, while shifting capital to remodels and reducing debt post-Brazil refranchising.
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Q3 2024 saw a 4% revenue decline and lower margins due to industry softness, labor inflation, and hurricane impacts. Strategic focus is on operational excellence, menu simplification, and a new Brazil partnership, with updated FY guidance reflecting ongoing challenges.
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Q2 adjusted EPS was $0.51 on $1.1B revenue, with comps down 10 bps but outperforming the industry. Full-year guidance was lowered due to industry softness, with 2024 adjusted EPS now $2.10–$2.30. Capital spending and share repurchases continue, while Brazil and fine dining face macro headwinds.