Bloomin' Brands raises 2026 earnings outlook after Q2 beat

Adjusted net per stock came successful astatine 39 cents. Analysts had expected 29 cents, according to The Wall Street Journal.

Total gross roseate 1.3% to $1.02 billion. Analysts had projected $1.00 billion.

U.S. comparable edifice income grew 2.3% successful the quarter. Bonefish Grill posted the strongest summation among the company's chains, with an 8.1% increase. Outback Steakhouse, Carrabba's Italian Grill, and Fleming's each roseate much than 1%. The institution said gross maturation was driven by higher comparable edifice sales, partially offset by nett edifice closures.

Higher paper prices lifted the per-guest tab, which the institution said was the cardinal operator of improved margins during the period. Spending connected the Outback turnaround program besides declined during the period, contributing to little wide and administrative costs and a wider operating margin.

Bloomin' revised its full-year adjusted diluted EPS people upward to betwixt 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 institution narrowed its U.S. comparable edifice income outlook to 1% to 2% growth, from a anterior scope of 0.5% to 2.5%.

For the 3rd quarter, Bloomin' said it expects an adjusted diluted nonaccomplishment of 22 cents to 27 cents per share. Analysts had projected a nonaccomplishment of 19 cents, according to the Journal. Third-quarter U.S. comparable edifice income are expected to turn 1% to 2%.

"I americium pleased with our fiscal results successful the 2nd 4th and our continued advancement connected the Outback Turnaround, which has led america to rise our afloat twelvemonth net guidance," CEO Mike Spanos said successful a statement.

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