Bloomin' Brands, Inc. Earnings Recaps
Q2 2026
Aug 8, 2026
Bloomin’ Brands delivered a Q2 performance that significantly exceeded expectations, driving a 22.0% stock jump as comp sales growth across key restaurant brands and improving guest satisfaction metrics underscored progress in the Outback turnaround strategy.
Key takeaways
- Total U.S. comparable restaurant sales increased 230 basis points year-over-year, despite a 190 basis point decline in traffic.
- Outback Steakhouse comps rose 140 basis points with persistent traffic headwinds (-280 bps) attributed in part to deliberate shifts away from dilutive third-party delivery promotions.
- Bonefish Grill showed the strongest traffic recovery, up 450 basis points, alongside comp sales growth of 810 basis points supported by promotional day-of-week offers.
- Guest Metric Scores at Outback improved for the fourth consecutive quarter, including service (+7 points), atmosphere (+7 points), and food quality (+4 points), reflecting execution improvements such as a lower server-to-table ratio during peak hours.
- The company remains committed to its four strategic pillars supporting the Outback turnaround, emphasizing guest experience, brand relevancy, culture, and investment, while balancing cost controls and capital allocation.
Q1 2026
May 8, 2026
Shares rallied sharply, gaining 38%, as Bonefish Grill's impressive same-store sales and traffic growth clearly outpaced other brands, providing palpable evidence that the turnaround strategy is gaining traction despite ongoing softness at Outback Steakhouse.
Key takeaways
- Bonefish's comparable sales soared by 6.1% with traffic increasing 3.0%, the strongest growth across the portfolio.
- Carrabba's and Fleming's posted modest comp sales increases of 1.3% and 0.8%, respectively, though both saw traffic declines (-2.7% and -2.9%).
- Outback Steakhouse lagged with a 0.3% comp sales decline and a 2.4% drop in traffic, weighed down by weather and ongoing challenges in reversing traffic trends despite improvements in guest scores.
- The company reiterated its turnaround plan focused on Outback, highlighting new steak offerings and enhanced operational execution, but results show mixed progress across brands.
- Weather negatively impacted Q1 comps by approximately 2.4 percentage points, particularly weighing on Outback’s results early in the quarter.
Q3 2025
Nov 7, 2025
Bloomin' Brands delivered solid operational improvements in Q3 2025, with management emphasizing a focused turnaround strategy centered on enhancing the guest experience and simplifying restaurant operations.
Key takeaways
- Implemented operational changes, including menu simplifications and improved brand positioning, leading to enhanced guest satisfaction metrics.
- Successfully refranchised restaurants in Brazil, streamlining corporate structure and reducing operational complexity.
- Increased profitability through the introduction of value-driven offers in casual dining brands, boosting customer retention and table turnover.
- Continued commitment to test-and-learn culture, with expanded testing of menu innovations and service enhancements across Outback restaurants.
- Strong leadership team established, with significant operational experience, to drive the turnaround efforts across the brand portfolio.