Bloomin' Brands Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 saw flat comp sales but positive traffic growth, with Outback achieving its first positive traffic comp since 2021. The turnaround strategy is underway, focusing on operational excellence, value, and restaurant refreshes, with 2026 as an investment year.
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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 revenue fell 4% year-over-year to $1B, with adjusted EPS down to $0.21 amid industry softness, hurricanes, and higher costs. Strategic focus shifts to operational excellence, guest experience, and a new Brazil partnership, with 2024 guidance lowered for comps and EPS.
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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.