Bloomin' Brands (BLMN) Q4 2025 earnings summary

Executive summary

• Q4 2025 focused on operational alignment and launching a turnaround strategy, emphasizing dine-in experience, brand relevancy, culture, and restaurant investment, with Outback achieving its first positive traffic growth since Q4 2021.

• Operates 1,460 restaurants across 12 countries, with 75% domestic and ~$4B trailing 12-month revenue.

• Q4 2025 revenues rose 0.3% year-over-year to $975.2M, driven by net restaurant openings despite lower franchise revenues.

• GAAP operating loss margin was (1.4)% versus 1.7% last year, mainly due to goodwill impairment and higher costs.

• Adjusted diluted EPS for Q4 2025 was $0.26, up from $0.22 in Q4 2024, excluding significant non-recurring charges.

Financial highlights

• Q4 2025 total revenues were $975 million, up from $972 million year-over-year.

• GAAP diluted loss per share was $0.14, compared to earnings of $0.12 last year; adjusted diluted EPS was $0.26, up from $0.22.

• Adjusted operating margin was 3.4%, nearly flat year-over-year, with restaurant margin pressured by commodity and labor inflation.

• Adjusted restaurant-level operating margin was 11.6%, down from 12.4% last year.

• Off-premises sales remained strong at 24% of U.S. sales.

Outlook and guidance

• Fiscal 2026 U.S. comparable sales expected to grow 0.5%-2.5%.

• Adjusted diluted EPS guidance is $0.75-$0.90.

• Capital expenditures projected at $185-$195 million, with focus on remodels, maintenance, and 6–8 new U.S. units.

• Q1 2026 guidance includes a weather-related sales and EPS impact; Q1 comp sales expected flat to up 1%, adjusted EPS $0.57-$0.62.

• Commodity inflation expected at 4.5%-5.5%, labor inflation at 3%-3.5% for 2026.