Bloomin' Brands, Q3 2026 Earnings Call Transcript

Bloomin’ Brands reported U.S. comparable sales growth of 1.9% in Q3 2026, while traffic fell 1.8%; higher average checks reflected pricing and continued investment in value offers. The company raised its full-year adjusted EPS outlook to $0.97–$1.02, but expects Q4 comparable sales growth of 0%–1%, citing holiday-calendar shifts, lapping prior-year promotions and delayed pricing at Outback and Bonefish. Management said it is balancing pricing against inflation and will not pursue promotions that bring unprofitable traffic.
Outback’s turnaround remains focused on service, food quality, value, marketing and restaurant refreshes; guest scores improved for a fifth consecutive quarter, and the company expects to complete about 85 refreshes in 2026. Risks include elevated beef and labor inflation and continued traffic declines at several brands. Bloomin’ Brands has also agreed to act as stalking-horse bidder for 61 Outback restaurants owned by a franchisee in bankruptcy, with no material Q4 impact expected.