Bloomin' Brands Stock Earnings Reports

Q1 FY2026 highlights: Total revenues were $1.06B (up 1% YoY). Adjusted diluted EPS was $0.67 (vs. $0.59 LY); GAAP diluted EPS was $0.64 (vs. $0.50 LY). U.S. comparable restaurant sales were +0.9% with traffic -1.8%; Outback comps were -0.3% with traffic -2.4% (weather cost ~240 bps in Q1). Brand guest metrics at Outback improved for the third consecutive quarter (brand trust, service, value, atmosphere, food and intent to return all up). Management reiterated full-year FY2026 guidance and provided Q2 guidance: U.S. comps of +1% to +2% and Q2 adjusted EPS of $0.27–$0.32. Commodity inflation in Q1 was ~4.6%, labor inflation ~3.1%; full-year commodity inflation guidance remains ~4.5%–5.5%. Capital allocation: capex of $25M in Q1 and full-year capex expected $185M–$195M; plan to refresh nearly all Outback restaurants by end of 2028 with average refresh ~$350k–$400k per location. Net debt (net of cash) ~$681M; lease-adjusted net leverage ~3.8x; net-debt-to-adjusted-EBITDA ~2.2x. Turnaround strategy (focus on Outback) rests on four pillars: remarkable dine-in experience (new steak lineup, service model changes), brand relevancy (increased marketing in H2), culture & compensation for managing partners, and targeted restaurant investments. Management emphasized disciplined mix/pricing actions (balancing traffic and check), productivity initiatives, and phased marketing spend concentrated in the back half of the year.