Bloomin' Brands, Inc. (BLMN)

In August 2025, Bloomin' Brands reported Q2 FY2025 financial results, where adjusted earnings per share surpassed analyst estimates, but GAAP operating income margin and restaurant-level margins declined due to higher labor and food costs. Same-store sales and traffic were flat or negative across most brands, with Outback Steakhouse underperforming. Barclays reduced its price objective for Bloomin' Brands from $9.00 to $7.00, maintaining an "equal weight" rating. In November 2025, the company announced Q3 2025 financial results, reporting a non-GAAP loss per share that beat analyst estimates, but overall sales declined year-over-year. The company unveiled a turnaround strategy focused on Outback Steakhouse, reallocating free cash flow into strategic investments and suspending the dividend, and the stock reached a new 52-week low. BMO Capital Markets lowered its price target from $10.00 to $8.00, and Goldman Sachs upgraded the stock from "sell" to "neutral" with a $7.00 target price.

Demand for Bloomin' Brands' products and services exhibits some seasonality, influenced by general dining trends and specific brand offerings. Fine dining concepts like Fleming's Prime Steakhouse tend to perform strongly around the holidays. In 2024, Bloomin' Brands experienced overall visit declines, with quarterly visits falling compared to 2023. The company has been implementing value offers, such as the "Aussie 3 Course" at Outback Steakhouse, to attract value-seeking consumers and address price sensitivity. Off-premises sales have remained a significant portion of revenue.

Bloomin' Brands, Inc. is a casual dining restaurant company based in Tampa, Florida, operating in the Consumer Discretionary sector. It owns and operates Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar. The company primarily generates revenue through food and beverage sales at its restaurants, with additional income from franchise royalties and fees.

Bloomin' Brands operates over 1,450 restaurants across 46 U.S. states, Guam, and 12 other countries. Approximately 95% of its revenue comes from company-owned locations in the United States. The company also has an international presence in Asia, Latin America, and the Middle East, often through franchise partnerships, including operations in Brazil, South Korea, Hong Kong, and China.

In the past year, Bloomin' Brands has focused on strategic initiatives to enhance its brand reputation and performance. In February 2025, the company committed to sourcing deforestation-free beef from Brazil. Throughout 2024, the company implemented a "rightsizing strategy," closing underperforming stores to focus on high-performing locations. While overall visits to the restaurant group declined in 2024, visits per location remained relatively consistent with 2023 levels. The company intends to simplify Bonefish Grill's menu and enhance its core brand experience in 2025 to improve its performance. The ongoing turnaround strategy for Outback Steakhouse, announced in November 2025, also indicates a proactive effort to improve the reputation and performance of its flagship brand through investments in steak quality, service, and marketing.

Bloomin' Brands' ownership is mainly held by institutional investors, including BlackRock, Inc., Starboard Value LP, Vanguard Group Inc, and State Street Corp. Mark E. Nunnelly is the largest individual shareholder among company insiders.