Bloomin' Brands (BLMN) investor relations material

Executive summary

• Q1 2026 total revenues increased 1.0% year-over-year to $1.06 billion, driven by new restaurant openings, higher average check, and continued execution of a turnaround strategy focused on guest experience, brand relevancy, and operational efficiency.

• Diluted EPS was $0.64 (up from $0.50), and adjusted diluted EPS was $0.67 (up from $0.59), reflecting improved execution and guest metrics.

• Operating income rose to $59.1 million (5.6% margin), up from $57.2 million (5.5%) in the prior year, with restaurant-level operating margin at 14.0%.

• All brands except Outback posted positive comparable sales, with Bonefish Grill leading growth; Outback's guest metrics and brand trust improved despite a slight comp sales decline.

• Weather disruptions and inflationary pressures impacted results, but momentum improved in March and April.

Financial highlights

• Q1 total revenues were $1.06 billion, up 1% year-over-year, with restaurant sales at $1.04 billion.

• GAAP diluted EPS was $0.64; adjusted diluted EPS was $0.67.

• Restaurant-level operating margin improved to 14.0% from 13.9% year-over-year.

• Adjusted operating margin was 5.9%, down slightly from 6.1% in Q1 2025.

• Net income attributable to shareholders was $55.7 million, up from $42.2 million.

Outlook and guidance

• Full-year 2026 guidance reaffirmed, with U.S. comparable restaurant sales expected to grow 0.5%–2.5%.

• Q2 2026 U.S. comparable sales expected to rise 1%–2%; adjusted diluted EPS guidance is $0.27–$0.32.

• Full-year capital expenditures projected at $185M–$195M, with higher spend in later quarters.

• Management expects adequate liquidity for debt service, lease obligations, and working capital needs.

• Adjusted diluted EPS guidance for 2026 is $0.75–$0.90.