Bloomin' Brands Q1 Earnings Call Highlights

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MarketBeat

Wed, May 6, 2026 astatine 8:07 AM CDT 10 min read

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Key Points

Outback turnaround is showing aboriginal traction with impermanent metrics improving for a 3rd consecutive 4th (brand spot +4 points) adjacent arsenic Outback comps were down 30 bps and postulation down 240 bps; absorption is rolling retired a caller steak lineup, a 4-tables-per-server work model, and a refresh programme to interaction astir each Outback restaurants by 2028 astatine astir $350–$400K each.
Q1 financials and guidance: gross was $1.06 cardinal (+1%) and adjusted EPS $0.67 (vs. $0.59 anterior year), adjusted operating borderline 5.9%; Bloomin’ reiterated full-year guidance and provided Q2 targets of U.S. comparable income +1% to +2% and adjusted EPS $0.27–$0.32, with full-year capex guided to $185–$195 cardinal and nett indebtedness of $681 million.
Marketing and user trends: absorption plans ~ $10M of incremental Outback selling successful H2 portion shifting the premix toward integer (about 60% digital/40% linear), and cites the Aussie 3-Course connection arsenic driving trade-ups and accrued frequence crossed property and income cohorts.
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Bloomin' Brands (NASDAQ:BLMN) executives utilized the company’s fiscal first-quarter 2026 net telephone to item aboriginal advancement successful its Outback Steakhouse turnaround efforts, portion reiterating full-year guidance and outlining near-term expectations for the 2nd quarter.

First-quarter results and income trends

Executive Chairman and CEO Michael Spanos said the turnaround strategy, launched successful the 4th fourth of past year, is centered connected “consistent execution crossed food, service, experience, and value” astatine Outback. He said the absorption is opening to amusement up successful impermanent sentiment, with Outback impermanent metric scores improving year-over-year for the 3rd consecutive quarter.

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Spanos cited a 4-point summation successful marque spot versus the prior-year quarter, alongside higher impermanent scores successful work (+6), worth (+5), ambiance (+5), nutrient (+4), and intent to instrumentality (+4). He added that due to the fact that the mean impermanent visits astir doubly per year, the institution expects “the cumulative interaction of these initiatives to go progressively disposable successful postulation momentum” arsenic much guests acquisition the changes.

On the topline, Spanos said U.S. comparable edifice income roseate 90 ground points successful the quarter, portion postulation declined 180 ground points. The institution estimated upwind reduced results by astir 240 ground points, compared with a 130-basis-point upwind headwind successful the prior-year period. Spanos said Bloomin’ Brands trailed the Black Box manufacture benchmark by 30 ground points connected comparable income and 70 ground points connected traffic, but noted the spread has narrowed 4th aft quarter.

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