Bloomin' Brands (BLMN) Q2 2026 earnings summary

Executive summary

• Q2 2026 total revenues reached $1.02 billion, up 1.3% year-over-year, with improved guest metrics and positive comparable restaurant sales across all brands, supported by Outback's turnaround strategy and operational initiatives.

• Diluted EPS was $0.37 and adjusted diluted EPS was $0.39, both up year-over-year, prompting an increase in full-year EPS guidance.

• The company operates 1,448 restaurants in 12 countries, with 75% domestic and trailing 12-month revenue of ~$4B.

• Strategic initiatives include a new steak lineup, improved service model, increased marketing spend, and restaurant refreshes, with a focus on productivity and operational improvements.

• Four strategic turnaround platforms: remarkable dine-in experience, brand relevancy, culture of ownership/fun, and restaurant investment.

Financial highlights

• Q2 2026 total revenues were $1,016M–$1,015.8M, up from $1,002M–$1,002.4M in Q2 2025.

• Adjusted diluted EPS was $0.39, up from $0.32; GAAP EPS was $0.37, up from $0.29.

• Restaurant-level operating margin improved to 12.4% from 12.0% year-over-year.

• Adjusted operating margin rose to 4.0% from 3.5% year-over-year.

• Net income attributable to shareholders was $31.3M–$32.9M, up from $25.4M–$25.9M year-over-year.

Outlook and guidance

• FY26 U.S. comparable restaurant sales expected to grow 1%-2%; Q3 guidance also 1%-2%.

• FY26 adjusted diluted EPS guidance raised to $0.90–$1.00.

• Q3 2026 adjusted diluted EPS expected between -$0.27 and -$0.22; GAAP EPS between -$0.28 and -$0.23.

• Full-year capital expenditures projected at $185M–$195M.

• Management expects liquidity sources to be adequate for all obligations over the next 12 months.