Bloomin' Brands, Inc. reported fourth‑quarter 2025 results on February 25, 2026, with total revenue of $975.2 million, a slight increase from $972.0 million in the same quarter a year earlier. Adjusted diluted earnings per share were $0.26, beating the consensus estimate of $0.25 by $0.01. The company posted a GAAP diluted loss of $0.14 per share, reflecting the impact of one‑time charges and the ongoing impairment of Bonefish Grill goodwill.
The quarter’s operating performance showed modest margin compression. Adjusted operating margin fell to 3.4% from 3.5% in Q4 2024, while restaurant‑level operating margin declined to 11.5% from 12.4%. Management attributed the compression to higher commodity and labor costs driven by inflation, an unfavorable product‑cost mix, and the need to invest in the Outback Steakhouse turnaround. Despite these headwinds, the company maintained pricing power in its core brands, which helped contain the margin decline.
Segment results highlighted mixed performance across the company’s portfolio. Outback Steakhouse posted its first quarter of positive traffic since Q4 2021, with a 0.9% increase in comparable sales, while Carrabba’s Italian Grill grew 1.6% in comparable sales. Bonefish Grill’s goodwill impairment reduced operating income, and the company closed 29 U.S. restaurants during the quarter, opening five new company‑owned locations to finish the year with 1,460 restaurants systemwide.
Guidance for the remainder of fiscal 2026 signals a cautious outlook. Bloomin' Brands projects U.S. comparable restaurant sales growth of 0.5% to 2.5% and adjusted diluted EPS of $0.75 to $0.90 for the full year. For Q1 2026, the company expects adjusted diluted EPS of $0.57 to $0.62. The guidance reflects an “investment year” focused on the Outback Steakhouse turnaround, with management acknowledging the need for continued capital allocation to sustain long‑term growth.
Management emphasized disciplined execution and quality improvements. CEO Mike Spanos said, “Our fourth‑quarter results reflect our continued focus on disciplined execution and food quality to deliver a consistently great guest experience. Through these efforts, Outback achieved its first quarter of positive traffic since Q4 2021. We launched our turnaround strategy in November with targeted investments in steak quality at Outback. Over the course of this year, we expect to make additional strategic investments as we look to drive long‑term, sustainable, and profitable growth.” CFO Eric Christel noted, “Q4 total revenues were $975 million, compared to $972 million last year. Restaurant sales were up, driven by the net impact of restaurant openings and closures. This was partially offset by a decline in franchise revenue, as the royalty rate on Brazil this year is less than the intercompany royalty received in 2024.”
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