Bloomin’ Brands Announces 2026 Q3 Financial Results

Q3 Diluted EPS of $(0.02) and Q3 Adjusted Diluted EPS of $(0.17)
Raises Full Year EPS Guidance

TAMPA, Fla.--(BUSINESS WIRE)--Nov. 6, 2026-- Bloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the third quarter 2026 (“Q3 2026”) compared to the third quarter 2025 (“Q3 2025”).

CEO Comments
“We are encouraged by our third quarter results and the continued progress on the Outback Turnaround, including five consecutive quarters of year-over-year improvement in Outback guest scores,” said Mike Spanos, CEO. “We remain focused on consistent execution across food, service, experience, and affordability to strengthen the guest experience and drive sustainable long-term growth.”

Diluted EPS and Adjusted Diluted EPS
The following table reconciles Diluted loss per share from continuing operations to Adjusted diluted loss per share from continuing operations for the periods indicated (unaudited):

Third Quarter Financial Results

• The increase in Total revenues was primarily due to: (i) higher comparable restaurant sales and (ii) the gift card breakage revenue change. These increases were partially offset by the net impact of restaurant closures and openings.
  
  
• GAAP operating income (loss) margin increased from Q3 2025 primarily due to: (i) lower impairment and closure costs, (ii) an increase in restaurant-level operating margin, as detailed below, and (iii) lapping general and administrative expenses related to transformational and restructuring initiatives and foreign currency forward contracts, partially offset by higher compensation expense.
  
  
• Restaurant-level operating margin increased from Q3 2025 primarily due to: (i) an increase in average check per person, primarily due to pricing, (ii) the gift card breakage revenue change and (iii) productivity initiatives. These impacts were partially offset by: (i) higher commodity, operating and labor costs, mainly due to inflation, and (ii) higher advertising expense.
  
  
• Adjusted operating income margin for Q3 2026 excludes the gift card breakage revenue change. For Q3 2025, adjusted operating income margin excludes: (i) certain impairment and closing costs, (ii) costs incurred as a result of transformational and restructuring initiatives and (iii) costs associated with foreign currency forward contracts.

Third Quarter Comparable Restaurant Sales

Fiscal 2026 Financial Outlook
The table below presents our updated expectations for selected 2026 financial operating results. We are reaffirming all other aspects of our full-year financial guidance as previously communicated.

Q4 2026 Financial Outlook
The table below presents our expectations for selected fiscal Q4 2026 financial operating results.

Conference Call
The Company will host a conference call today, November 6, 2026 at 8:00 AM ET. The conference call will be webcast live from the Company’s website at http://www.bloominbrands.com under the Investors section. A replay of this webcast will be available on the Company’s website after the call.

About Bloomin’ Brands, Inc.
Bloomin’ Brands, Inc. is one of the largest full-service dining restaurant companies in the world with a portfolio of leading, differentiated restaurant concepts. The Company’s restaurant portfolio includes Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. The Company owns, operates and franchises more than 1,440 restaurants in 46 states, Guam and 12 countries. For more information, please visit www.bloominbrands.com.

Non-GAAP Measures
In addition to the results provided in accordance with GAAP, this press release and related tables include certain non-GAAP measures, which present operating results on an adjusted basis. These are supplemental measures of performance that are not required by or presented in accordance with GAAP and include: (i) Restaurant-level operating income, adjusted restaurant-level operating income and their corresponding margin, (ii) Adjusted income from operations and the corresponding margin, (iii) Adjusted segment income from operations and the corresponding margin, (iv) Adjusted net (loss) income and (v) Adjusted diluted (loss) earnings per share.

Restaurant-level operating margin is a non-GAAP financial measure widely regarded in the industry as a useful metric to evaluate restaurant-level operating efficiency and performance of ongoing restaurant-level operations, and we use it for these purposes.

We believe that our use of non-GAAP financial measures permits investors to assess the operating performance of our business relative to our performance based on GAAP results and relative to other companies within the restaurant industry by isolating the effects of certain items that may vary from period to period without correlation to core operating performance or that vary widely among similar companies. However, our inclusion of these adjusted measures should not be construed as an indication that our future results will be unaffected by unusual or infrequent items or that the items for which we have made adjustments are unusual or infrequent or will not recur. We believe that the disclosure of these non-GAAP measures is useful to investors as they form part of the basis for how our management team and Board of Directors evaluate our operating performance, allocate resources and administer employee incentive plans.

These non-GAAP financial measures are not intended to replace GAAP financial measures, and they are not necessarily standardized or comparable to similarly titled measures used by other companies. We maintain internal guidelines with respect to the types of adjustments we include in our non-GAAP measures. These guidelines endeavor to differentiate between types of gains and expenses that are reflective of our core operations in a period, and those that may vary from period to period without correlation to our core performance in that period. However, implementation of these guidelines necessarily involves the application of judgment, and the treatment of any items not directly addressed by, or changes to, our guidelines will be considered by our disclosure committee. You should refer to the reconciliations of non-GAAP measures in Tables Four, Five and Six included later in this release for descriptions of the actual adjustments made in the current period and the corresponding prior period.

Forward-Looking Statements
Certain statements contained herein, including statements under the headings “CEO Comments”, “Fiscal 2026 Financial Outlook” and “Q4 2026 Financial Outlook” are not based on historical fact and are “forward-looking statements” within the meaning of applicable securities laws. Generally, these statements can be identified by the use of words such as “guidance,” “believes,” “estimates,” “anticipates,” “expects,” “on track,” “feels,” “forecasts,” “seeks,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could,” “would” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the Company’s forward-looking statements. These risks and uncertainties include, but are not limited to: our ability to execute and achieve the expected benefits of our actions to focus on operational priorities, including our turnaround plans and cost-saving initiatives to fund such plans; consumer reaction to public health and food safety issues; increases in labor costs and fluctuations in the availability of employees and our ability to attract, train, and retain key personnel; increases in unemployment rates and taxes; competition; interruption or breach of our systems or loss of consumer or employee information; price and availability of commodities and other impacts of inflation and tariffs; our dependence on a limited number of suppliers and distributors; political, social and legal conditions in international markets and their effects on foreign operations and foreign currency exchange rates; the impacts of our operations in Brazil as a minority investor and franchisor; our ability to address corporate citizenship and sustainability matters and investor and governmental expectations; local, regional, national and international economic conditions; changes in patterns of consumer traffic, consumer tastes and dietary habits; the effects of changes in tax laws; costs, diversion of management attention and reputational damage from any claims or litigation; government actions and policies, including the impact of U.S. government shutdowns; challenges associated with our remodeling, relocation and expansion plans; our ability to preserve the value of and grow our brands, including due to our limited control with respect to and the challenges facing the operations of our franchisees including the Chapter 11 proceedings initiated by Out West; whether our offer to buy Out West's restaurants is ultimately accepted and, if so, the risks related to our operation of the Out West locations thereafter, including due to unexpected costs, employee attrition, customer perceptions, vendor relationships, licensing requirements, and diversion of management’s attention from ongoing business operations and opportunities; consumer confidence and spending patterns; the effects of a health pandemic, weather, acts of God and other disasters and the ability or success in executing related business continuity plans; the Company’s ability to make debt payments and planned investments and the Company’s compliance with debt covenants; the cost and availability of credit; interest rate changes; and any impairments in the carrying value of goodwill and other assets. Further information on potential factors that could affect the financial results of the Company and its forward-looking statements is included in its most recent Form 10-K and subsequent filings with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statement, except as may be required by law. These forward-looking statements speak only as of the date of this release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Note: Numerical figures included in this release have been subject to rounding adjustments.

Following is a summary of the financial statement line item classification of the net income adjustments from continuing operations:

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Tara Kurian
SVP, IR, FP&A, and International
(813) 830-5311

Source: Bloomin’ Brands, Inc.