Bloomin' Brands (BLMN) investor relations material

Executive summary

• Q1 2026 delivered total revenues of $1.06 billion, up 1% year-over-year, driven by higher average check, new restaurant openings, and improved guest metrics, despite some restaurant closures and weather impacts.

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

• The turnaround strategy focused on guest experience, brand relevancy, culture, operational efficiency, and restaurant investment, with ongoing initiatives such as a new steak lineup, enhanced service model, and refreshed compensation for managing partners.

• Operates 1,452 restaurants across 12 countries, with 75% domestic and a system-wide restaurant count of 1,088 U.S. locations and 354 international franchises.

• Guest metrics improved for the third consecutive quarter, including brand trust, service, value, atmosphere, food, and intent to return.

Financial highlights

• Restaurant-level operating margin improved to 14.0% from 13.9% year-over-year; GAAP operating income margin increased to 5.6% from 5.5%.

• Adjusted operating margin was 5.9%, down slightly from 6.1% due to higher impairment and closure costs.

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

• Cash and cash equivalents stood at $71.3 million, with total debt at $752.6 million as of March 29, 2026.

• Net cash provided by operating activities was $75.4 million, up from $70.8 million year-over-year.

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 $185 million–$195 million, with higher spend in later quarters as remodels ramp up.

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

• Commodity inflation for the year expected at 4.5%–5.5%, with beef locked in at high single-digit inflation.