Bloomin' Brands raises 2026 earnings outlook after Q2 beat

Bloomin' Brands raises 2026 earnings outlook after Q2 beat

Wed, August 5, 2026 at 4:08 PM GMT+3 2 min read

• BLMN +29.88%

Bloomin' Brands raised its full-year earnings guidance Wednesday after higher menu prices pushed second-quarter profit above analyst expectations. The owner of Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar reported net income of $31.3 million, or 36 cents a share, for the quarter ended June 28, up from $25.4 million, or 30 cents a share, a year earlier.

Adjusted earnings per share came in at 39 cents. Analysts had expected 29 cents, according to The Wall Street Journal.

Total revenue rose 1.3% to $1.02 billion. Analysts had projected $1.00 billion.

U.S. comparable restaurant sales grew 2.3% in the quarter. Bonefish Grill posted the strongest gain among the company's chains, with an 8.1% increase. Outback Steakhouse, Carrabba's Italian Grill, and Fleming's each rose more than 1%. The company said revenue growth was driven by higher comparable restaurant sales, partially offset by net restaurant closures.

Higher menu prices lifted the per-guest tab, which the company said was the key driver of improved margins during the period. Spending on the Outback turnaround plan also declined during the period, contributing to lower general and administrative costs and a wider operating margin.

Bloomin' revised its full-year adjusted diluted EPS target upward to between 90 cents and $1, compared with its earlier forecast of 75 cents to 90 cents. Its full-year diluted EPS guidance was raised to 85 cents to 95 cents, from 70 cents to 85 cents. The company narrowed its U.S. comparable restaurant sales outlook to 1% to 2% growth, from a prior range of 0.5% to 2.5%.

For the third quarter, Bloomin' said it expects an adjusted diluted loss of 22 cents to 27 cents per share. Analysts had projected a loss of 19 cents, according to the Journal. Third-quarter U.S. comparable restaurant sales are expected to grow 1% to 2%.

"I am pleased with our financial results in the second quarter and our continued progress on the Outback Turnaround, which has led us to raise our full year earnings guidance," CEO Mike Spanos said in a statement.

Bloomin' Brands shares climbed 8% to $9.61 in Wednesday pre-market trading.