Bloomin’ Brands Announces Turnaround Strategy, Releases 2025 Q3 Financial Results
TAMPA, Fla.--( BUSINESS WIRE)--Bloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the third quarter 2025 (“Q3 2025”) compared to the third quarter 2024 (“Q3 2024”).
CEO Comments
“We have great momentum in our business as demonstrated by our third quarter results,” said Mike Spanos, CEO. “All four brands drove positive comparable store sales growth for the first time since Q1 2023. Our teams continue to focus on consistency of execution in food quality and the guest experience, the foundation for our turnaround.”
“I am excited to announce our turnaround strategy, with a focus on the Outback Steakhouse brand. In support of our strategy, we will reallocate available free cash flow into strategic investments in our base business and pay down debt. As a result, we have suspended the dividend. We believe our strategic plan will drive long-term, sustainable and profitable growth.”
Diluted EPS and Adjusted Diluted EPS
The following table reconciles Diluted loss per share from continuing operations to Adjusted diluted (loss) earnings per share from continuing operations for the periods indicated (unaudited):
Q3
2025
2024
CHANGE
Diluted loss per share:
$
(0.54
)
$
(0.01
)
$
(0.53
)
Adjustments (1)
0.51
0.12
0.39
Adjusted diluted (loss) earnings per share (1)
$
(0.03
)
$
0.11
$
(0.14
)
(1) Adjustments for Q3 2025 primarily include (i) impairment and closing costs related to closures and underperforming restaurants, (ii) costs incurred as a result of transformational and restructuring activities and (iii) costs associated with the foreign currency forward contracts. Adjustments for Q3 2024 primarily include (i) costs incurred as a result of transformational and restructuring activities and (ii) asset impairment, closure costs and severance in connection with certain restaurant closures. See non-GAAP Measures later in this release. Also see Tables Four, Five and Six for further details regarding the nature of diluted earnings per share adjustments for the periods presented.
Third Quarter Financial Results from Continuing Operations
(dollars in millions, unaudited)
Q3 2025
Q3 2024
CHANGE
Total revenues
$
928.8
$
910.0
2.1
%
GAAP operating (loss) income margin
(3.9
)%
0.9
%
(4.8
)%
Adjusted operating income margin (1)
0.8
%
2.3
%
(1.5
)%
Restaurant-level operating margin (1)
9.2
%
11.1
%
(1.9
)%
Adjusted restaurant-level operating margin (1)
9.5
%
11.1
%
(1.6
)%
(1) See non-GAAP Measures later in this release. Also see Tables Four and Five for details regarding the nature of restaurant-level operating margin and operating income margin adjustments, respectively.
Third Quarter Comparable Restaurant Sales
THIRTEEN WEEKS ENDED SEPTEMBER 28, 2025
COMPANY-OWNED
Comparable restaurant sales (stores open 18 months or more):
U.S.
Outback Steakhouse
0.4 %
Carrabba’s Italian Grill
4.1 %
Bonefish Grill
0.8 %
Fleming’s Prime Steakhouse & Wine Bar
1.2 %
Combined U.S.
1.2 %
Our Turnaround Strategy
We are implementing a comprehensive turnaround strategy, with a key focus on Outback Steakhouse, to drive long-term sustainable and profitable growth. This strategy is based on four key platforms, including:
These platforms will be supported by:
Additionally, in support of our turnaround strategy, during the thirteen and thirty-nine weeks ended September 28, 2025, we made the decision to close 21 U.S. restaurants and not renew the leases of 22 U.S. restaurants, the majority of which expire over the next four years (the “2025 Restaurant Closures”). Including the impacts of these closures, we recognized asset impairments and net closure charges of $33.2 million during Q3 2025. The closures of the 21 U.S. restaurants were completed during October 2025 with an estimated $5.0 million to $7.0 million of related severance and closure charges to be recorded during the thirteen weeks ended December 28, 2025.
Dividend Declaration
In October 2025, our Board of Directors suspended the dividend as a component of the turnaround strategy.
Fiscal 2025 Financial Outlook
The table below presents our updated expectations for selected 2025 financial operating results. We are reaffirming all other aspects of our full-year financial guidance as previously communicated.
Financial Results:
Current Outlook
U.S. comparable restaurant sales
0% to 0.5%
Diluted earnings per share (1)
$0.75 to $0.80
Adjusted diluted earnings per share (1)(2)
$1.10 to $1.15
Other Selected Financial Data:
Current Outlook
Labor inflation
Approximately 3.5%
Number of new company-owned restaurants
19
Number of new franchised restaurants
24
(1) Assumes diluted weighted average shares of 85 to 86 million.
Q4 2025 Financial Outlook
The table below presents our expectations for selected fiscal Q4 2025 financial operating results from continuing operations.
Financial Results:
Q4 2025 Outlook
U.S. comparable restaurant sales
0.5% to 1.5%
Diluted earnings per share (1)
$0.10 to $0.15
Adjusted diluted earnings per share (1)(2)
$0.23 to $0.28
(1) Assumes diluted weighted average shares of approximately 86 million.
Conference Call
The Company will host a conference call today, November 6, 2025 at 9:00 AM EST. 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 casual 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 1,450 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 margins, (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 2025 Financial Outlook” and “Q4 2025 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 following our sale transaction on our results; our ability to address corporate citizenship and sustainability matters and investor 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 the ongoing U.S. government shutdown; challenges associated with our remodeling, relocation and expansion plans; our ability to preserve the value of and grow our brands; 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.
TABLE ONE
BLOOMIN’ BRANDS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
THIRTEEN WEEKS ENDED
THIRTY-NINE WEEKS ENDED
(in thousands, except per share data)
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
Revenues
Restaurant sales
$
911,920
$
889,784
$
2,926,208
$
2,914,253
Franchise and other revenues
16,893
20,229
54,565
64,202
Total revenues
928,813
910,013
2,980,773
2,978,455
Costs and expenses
Food and beverage
275,081
261,338
886,717
871,620
Labor and other related
297,390
286,300
928,134
901,350
Other restaurant operating
255,476
243,803
766,836
744,626
Depreciation and amortization
44,947
44,344
133,492
130,434
General and administrative
59,103
59,989
180,007
175,660
Provision for impaired assets and restaurant closings
33,236
5,597
35,126
31,154
Total costs and expenses
965,233
901,371
2,930,312
2,854,844
(Loss) income from operations
(36,420
)
8,642
50,461
123,611
Loss on extinguishment of debt
—
(225
)
—
(136,022
)
Interest expense, net
(11,112
)
(16,483
)
(32,998
)
(45,455
)
(Loss) income before (benefit) provision for income taxes
(47,532
)
(8,066
)
17,463
(57,866
)
(Benefit) provision for income taxes
(2,404
)
(8,030
)
(10,249
)
1,392
Loss from equity method investment, net of tax
(337
)
—
(3,434
)
—
Net (loss) income from continuing operations
(45,465
)
(36
)
24,278
(59,258
)
Net income from discontinued operations, net of tax
189
7,577
714
14,140
Net (loss) income
(45,276
)
7,541
24,992
(45,118
)
Less: net income attributable to noncontrolling interests
583
629
3,280
3,439
Net (loss) income attributable to Bloomin’ Brands
$
(45,859
)
$
6,912
$
21,712
$
(48,557
)
Basic (loss) earnings per share (1):
Continuing operations
$
(0.54
)
$
(0.01
)
$
0.25
$
(0.73
)
Discontinued operations
—
0.09
0.01
0.16
Net basic (loss) earnings per share
$
(0.54
)
$
0.08
$
0.26
$
(0.56
)
Diluted (loss) earnings per share (1):
Continuing operations
$
(0.54
)
$
(0.01
)
$
0.25
$
(0.73
)
Discontinued operations
—
0.09
0.01
0.16
Net diluted (loss) earnings per share
$
(0.54
)
$
0.08
$
0.25
$
(0.56
)
Weighted average common shares outstanding:
Basic
85,093
85,063
85,012
86,258
Diluted
85,093
85,063
85,222
86,258
(1) Amounts may not add due to rounding.
TABLE TWO
BLOOMIN’ BRANDS, INC.
SEGMENT RESULTS
(UNAUDITED)
(dollars in thousands)
THIRTEEN WEEKS ENDED
THIRTY-NINE WEEKS ENDED
U.S. Segment
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
Revenues
Restaurant sales
$
902,543
$
877,052
$
2,897,968
$
2,870,036
Franchise and other revenues
9,733
10,273
31,039
34,566
Total U.S. segment revenues
912,276
887,325
2,929,007
2,904,602
International Franchise Segment
Franchise revenues
7,146
9,945
23,480
29,501
Reconciliation
All other revenues (1)
9,391
12,743
28,286
44,352
Total revenues
$
928,813
$
910,013
$
2,980,773
$
2,978,455
Reconciliation of Segment Operating Income to Consolidated Operating (Loss) Income
Segment income from operations
U.S.
$
1,601
$
38,853
$
157,732
$
216,014
International Franchise
6,998
9,553
22,840
28,292
Total segment income from operations
8,599
48,406
180,572
244,306
Unallocated corporate operating expense
(45,245
)
(35,665
)
(131,435
)
(103,690
)
Other income (loss) from operations (1)
226
(4,099
)
1,324
(17,005
)
Total (loss) income from operations
$
(36,420
)
$
8,642
$
50,461
$
123,611
(1) Primarily includes revenues and income (loss) from operations related to its Hong Kong subsidiary.
TABLE THREE
BLOOMIN’ BRANDS, INC.
SUPPLEMENTAL BALANCE SHEET INFORMATION
SEPTEMBER 28, 2025
DECEMBER 29, 2024
(dollars in thousands)
(UNAUDITED)
Cash and cash equivalents
$
66,479
$
70,056
Net working capital (deficit) (1)
$
(423,171
)
$
(631,817
)
Total assets
$
3,280,063
$
3,384,805
Total debt
$
962,248
$
1,027,398
Total stockholders’ equity
$
348,007
$
139,446
TABLE FOUR
BLOOMIN’ BRANDS, INC.
RESTAURANT-LEVEL AND ADJUSTED RESTAURANT-LEVEL OPERATING INCOME AND MARGINS NON-GAAP RECONCILIATIONS
(UNAUDITED)
Consolidated
THIRTEEN WEEKS ENDED
THIRTY-NINE WEEKS ENDED
(dollars in thousands)
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
(Loss) income from operations
$
(36,420
)
$
8,642
$
50,461
$
123,611
Operating (loss) income margin
(3.9
)%
0.9
%
1.7
%
4.2
%
Less:
Franchise and other revenues
16,893
20,229
54,565
64,202
Plus:
Depreciation and amortization
44,947
44,344
133,492
130,434
General and administrative
59,103
59,989
180,007
175,660
Provision for impaired assets and restaurant closings
33,236
5,597
35,126
31,154
Restaurant-level operating income (1)
$
83,973
$
98,343
$
344,521
$
396,657
Restaurant-level operating margin
9.2
%
11.1
%
11.8
%
13.6
%
Adjustments:
Employee benefits policy change (2)
2,763
—
2,763
—
Closure-related charges
—
—
—
434
Total restaurant-level operating income adjustments
2,763
—
2,763
434
Adjusted restaurant-level operating income
$
86,736
$
98,343
$
347,284
$
397,091
Adjusted restaurant-level operating margin
9.5
%
11.1
%
11.9
%
13.6
%
(1) The following categories of revenue and operating expenses are not included in restaurant-level operating income and the corresponding margin because we do not consider them reflective of operating performance at the restaurant-level within a period:
(a) Franchise and other revenues, which are earned primarily from franchise royalties and other non-food and beverage revenue streams, such as rental and sublease income.
(b) Depreciation and amortization, which, although substantially all of which is related to restaurant-level assets, represent historical sunk costs rather than cash outlays for the restaurants.
(c) General and administrative expense, which includes primarily non-restaurant-level costs associated with support of the restaurants and other activities at our corporate offices.
(d) Asset impairment charges and restaurant closing costs, which are not reflective of ongoing restaurant performance in a period.
(2) Represents costs associated with updated field PTO policy in connection with the transition to a new human resources and payroll system.
TABLE FIVE
BLOOMIN’ BRANDS, INC.
ADJUSTED INCOME FROM OPERATIONS AND MARGIN NON-GAAP RECONCILIATIONS
(UNAUDITED)
(dollars in thousands)
THIRTEEN WEEKS ENDED
THIRTY-NINE WEEKS ENDED
Consolidated
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
(Loss) income from operations
$
(36,420
)
$
8,642
$
50,461
$
123,611
Operating (loss) income margin
(3.9
)%
0.9
%
1.7
%
4.2
%
Adjustments:
Total restaurant-level operating income adjustments (1)
2,763
—
2,763
434
Asset impairments and closure-related charges (2)
31,570
5,127
29,641
32,407
Severance and other transformational costs (3)
6,587
7,121
16,187
8,121
Foreign currency forward contract costs (4)
3,254
—
7,815
—
Total income from operations adjustments
44,174
12,248
56,406
40,962
Adjusted income from operations
$
7,754
$
20,890
$
106,867
$
164,573
Adjusted operating income margin
0.8
%
2.3
%
3.6
%
5.5
%
U.S. Segment
Income from operations
$
1,601
$
38,853
$
157,732
$
216,014
Operating income margin
0.2
%
4.4
%
5.4
%
7.4
%
Adjustments:
Total restaurant-level operating income adjustments (1)
—
—
—
434
Asset impairments and closure-related charges (2)
31,570
—
29,860
13,858
Severance and other transformational costs (3)
—
3,000
—
4,000
Total income from operations adjustments
31,570
3,000
29,860
18,292
Adjusted income from operations
$
33,171
$
41,853
$
187,592
$
234,306
Adjusted operating income margin
3.6
%
4.7
%
6.4
%
8.1
%
International Franchise Segment
Income from operations
$
6,998
$
9,553
$
22,840
$
28,292
(1) See Table Four Restaurant-level and Adjusted Restaurant-Level Operating Income and Margins Non-GAAP Reconciliations for details regarding restaurant-level operating income adjustments.
(2) The thirteen and thirty-nine weeks ended September 28, 2025 primarily include costs related to the 2025 Restaurant Closures and the five underperforming U.S. restaurants. The thirteen and thirty-nine weeks ended September 29, 2024 include asset impairment, closure costs and severance primarily in connection with previous restaurant closures.
(3) Includes severance, professional fees and other costs incurred as a result of transformational and restructuring activities.
(4) Represents costs in connection with the foreign currency forward contracts that mostly offset foreign currency exchange risk associated with installment payments from the Brazil Sale Transaction.
TABLE SIX
BLOOMIN’ BRANDS, INC.
ADJUSTED NET (LOSS) INCOME AND ADJUSTED DILUTED (LOSS) EARNINGS PER SHARE NON-GAAP RECONCILIATIONS
(UNAUDITED)
THIRTEEN WEEKS ENDED
THIRTY-NINE WEEKS ENDED
(in thousands, except per share data)
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
Net (loss) income attributable to Bloomin’ Brands
$
(45,859
)
$
6,912
$
21,712
$
(48,557
)
Net income from discontinued operations, net of tax
189
7,577
714
14,140
Net (loss) income attributable to Bloomin’ Brands from continuing operations
(46,048
)
(665
)
20,998
(62,697
)
Adjustments:
Income from operations adjustments (1)
44,174
12,248
56,406
40,962
Loss on extinguishment of debt (2)
—
—
—
135,797
Total adjustments, before income taxes
44,174
12,248
56,406
176,759
Adjustment to (benefit) provision for income taxes (3)
(1,028
)
(2,098
)
(3,023
)
(3,894
)
Net adjustments, continuing operations
43,146
10,150
53,383
172,865
Adjusted net (loss) income, continuing operations
(2,902
)
9,485
74,381
110,168
Adjusted net income, discontinued operations (4)
189
8,667
714
16,524
Adjusted net (loss) income
$
(2,713
)
$
18,152
$
75,095
$
126,692
Diluted (loss) earnings per share (5):
Continuing operations
$
(0.54
)
$
(0.01
)
$
0.25
$
(0.73
)
Discontinued operations
—
0.09
0.01
0.16
Net diluted (loss) earnings per share
$
(0.54
)
$
0.08
$
0.25
$
(0.56
)
Adjusted diluted (loss) earnings per share (5):
Continuing operations
$
(0.03
)
$
0.11
$
0.87
$
1.22
Discontinued operations
—
0.10
0.01
0.18
Adjusted diluted (loss) earnings per share (6)
$
(0.03
)
$
0.21
$
0.88
$
1.41
Diluted weighted average common shares outstanding
85,093
85,063
85,222
86,258
Adjusted diluted weighted average common shares outstanding (6)
85,093
86,164
85,222
90,057
(1) See Table Five Adjusted Income from Operations and Margin Non-GAAP Reconciliations above for details regarding (Loss) income from operations adjustments.
(2) Includes losses in connection with the partial repurchase of the 2025 Notes, including settlements of the related convertible senior note hedges and warrants.
(3) The tax effect of non-GAAP adjustments is determined by recomputing the (benefit) provision for income taxes on an adjusted basis. The difference between the recomputed (benefit) provision for income taxes and the GAAP (benefit) provision for income taxes represents the tax effect of non-GAAP adjustments. For the thirteen and thirty-nine weeks ended September 28, 2025, the difference between GAAP and adjusted (benefit) provision for income taxes is primarily related to the changes to forecasted pre-tax book income relative to prior quarters under both GAAP and non-GAAP and its impact on the application of the estimated annualized effective income tax rate to year-to-date ordinary income. As a result of this methodology, we expect that a portion of the tax effect of the total adjustments for the thirteen and thirty-nine weeks ended September 28, 2025 will be reflected in the last quarter of this fiscal year. For the thirty-nine weeks ended September 29, 2024, the difference between GAAP and adjusted effective income tax rates primarily relates to nondeductible losses and other tax costs associated with the partial repurchase of the 2025 Notes.
(4) Includes net income from our Brazil operations for the periods presented. The thirteen and thirty-nine weeks ended September 29, 2024 include a non-GAAP adjustment for $1.5 million of transaction-related professional fees and the tax effect of non-GAAP adjustments. The thirty-nine weeks ended September 29, 2024 also includes $1.5 million of asset impairment.
(5) Amounts may not add due to rounding.
(6) Due to a GAAP net loss from continuing operations, antidilutive securities are excluded from diluted weighted average common shares outstanding for the thirteen weeks ended September 28, 2025 and the thirteen and thirty-nine weeks ended September 29, 2024. However, considering the adjusted net income position for the thirteen and thirty-nine weeks ended September 29, 2024, adjusted diluted weighted average common shares outstanding incorporates securities that would have been dilutive for GAAP.
Following is a summary of the financial statement line item classification of the net (loss) income adjustments from continuing operations:
THIRTEEN WEEKS ENDED
THIRTY-NINE WEEKS ENDED
(dollars in thousands)
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
Labor and other related
$
2,763
$
—
$
2,763
$
434
General and administrative
9,841
8,516
24,084
12,490
Provision for impaired assets and restaurant closings
31,570
3,732
29,559
28,038
Loss on extinguishment of debt
—
—
—
135,797
Provision for income taxes
(1,028
)
(2,098
)
(3,023
)
(3,894
)
Net adjustments
$
43,146
$
10,150
$
53,383
$
172,865
TABLE SEVEN
BLOOMIN’ BRANDS, INC.
COMPARATIVE RESTAURANT INFORMATION
(UNAUDITED)
Number of restaurants:
JUNE 29, 2025
OPENINGS
CLOSURES
SEPTEMBER 28, 2025
U.S.
Outback Steakhouse
Company-owned
557
2
—
559
Franchised
121
—
(1
)
120
Total
678
2
(1
)
679
Carrabba’s Italian Grill
Company-owned
191
—
(1
)
190
Franchised
17
—
—
17
Total
208
—
(1
)
207
Bonefish Grill
Company-owned
162
—
—
162
Franchised
4
—
—
4
Total
166
—
—
166
Fleming’s Prime Steakhouse & Wine Bar
Company-owned
65
1
—
66
Other
Franchised
1
—
—
1
U.S. total
1,118
3
(2
)
1,119
International Franchise
Outback Steakhouse - Brazil
185
2
—
187
Outback Steakhouse - South Korea
100
2
(1
)
101
Other
66
—
—
66
International Franchise total
351
4
(1
)
354
International other - Company-owned
Outback Steakhouse - Hong Kong/China
10
—
—
10
System-wide total
1,479
7
(3
)
1,483
System-wide total - Company-owned
985
3
(1
)
987
System-wide total - Franchised
494
4
(2
)
496
TABLE EIGHT
BLOOMIN’ BRANDS, INC.
COMPARABLE RESTAURANT SALES, TRAFFIC AND AVERAGE CHECK PER PERSON INFORMATION
(UNAUDITED)
THIRTEEN WEEKS ENDED
THIRTY-NINE WEEKS ENDED
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
SEPTEMBER 28, 2025
SEPTEMBER 29, 2024
Year over year percentage change:
Comparable restaurant sales (restaurants open 18 months or more):
U.S. (1)
Outback Steakhouse
0.4
%
(1.3
)%
(0.5
)%
(0.9
)%
Carrabba’s Italian Grill
4.1
%
(1.5
)%
3.1
%
0.4
%
Bonefish Grill
0.8
%
(4.1
)%
(3.1
)%
(3.7
)%
Fleming’s Prime Steakhouse & Wine Bar
1.2
%
1.2
%
3.5
%
(0.8
)%
Combined U.S.
1.2
%
(1.5
)%
0.1
%
(1.1
)%
Traffic:
U.S.
Outback Steakhouse
—
%
(3.9
)%
(1.8
)%
(4.0
)%
Carrabba’s Italian Grill
0.6
%
(3.4
)%
0.3
%
(2.7
)%
Bonefish Grill
(1.7
)%
(8.5
)%
(7.8
)%
(6.7
)%
Fleming’s Prime Steakhouse & Wine Bar
(1.2
)%
(7.3
)%
(0.7
)%
(6.7
)%
Combined U.S.
(0.1
)%
(4.4
)%
(2.1
)%
(4.2
)%
Average check per person (2):
U.S.
0.4
%
2.6
1.3
3.1
Carrabba’s Italian Grill
3.5
%
1.9
%
2.8
%
3.1
%
Bonefish Grill
2.5
%
4.4
%
4.7
%
3.0
%
Fleming’s Prime Steakhouse & Wine Bar
2.4
%
8.5
%
4.2
%
5.9
%
Combined U.S.
1.3
%
2.9
%
2.2
%
3.1
%
(1) Relocated restaurants closed more than 60 days are excluded from comparable restaurant sales until at least 18 months after reopening.
(2) Includes the impact of menu pricing changes, product mix and discounts.