Bloomin’ Brands Announces 2025 Q1 Financial Results

In This Article:

Q1 Diluted EPS of $0.50 and Q1 Adjusted Diluted EPS of $0.59

TAMPA, Fla., May 07, 2025--(BUSINESS WIRE)--Bloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the first quarter 2025 ("Q1 2025") compared to the first quarter 2024 ("Q1 2024").

CEO Comments
"We continue to make progress on our operating priorities to simplify the business and consistently deliver a great guest experience while balancing our longer-term priorities to turnaround Outback and drive sustainable sales and profit growth," said Mike Spanos, CEO. "We are navigating a choppy macro environment and are leaning in to our abundant everyday value offerings. This is reflected in our current guidance."

Diluted EPS and Adjusted Diluted EPS
The following table reconciles Diluted earnings (loss) per share from continuing operations to Adjusted diluted earnings per share from continuing operations for the periods indicated (unaudited):

Q1

2025

2024

CHANGE

Diluted earnings (loss) per share:

$

0.50

$

(1.00

)

$

1.50

Adjustments (1)

0.09

1.64

(1.55

)

Adjusted diluted earnings per share (1)

$

0.59

$

0.64

$

(0.05

)

_______________
(1) Adjustments for Q1 2025 primarily include severance and other costs incurred as a result of transformational and restructuring initiatives. Adjustments for Q1 2024 primarily include losses in connection with the retirement of the $83.6 million of our outstanding convertible notes and charges in connection with the 2023 Restaurant Closures. See non-GAAP Measures later in this release. Also see Tables Four, Five and Six for details regarding the nature of diluted earnings (loss) per share adjustments for the periods presented.

First Quarter Financial Results from Continuing Operations

(dollars in millions, unaudited)

Q1 2025

Q1 2024

CHANGE

Total revenues

$

1,049.6

$

1,069.1

(1.8

)%

GAAP operating income margin

5.5

%

6.6

%

(1.1

)%

Adjusted operating income margin (1)

6.1

%

7.8

%

(1.7

)%

Restaurant-level operating margin (1)

13.9

%

15.4

%

(1.5

)%

Adjusted restaurant-level operating margin (1)

13.9

%

15.5

%

(1.6

)%

_______________

(1) See non-GAAP Measures later in this release. Also see Tables Four and Five for details regarding the nature of restaurant-level operating margin and operating income margin adjustments, respectively.

  • The decrease in Total revenues was primarily due to the net impact of restaurant closures and openings and a decrease in comparable restaurant sales.

  • GAAP operating income margin from continuing operations decreased from Q1 2024 primarily due to a decrease in restaurant-level operating margin, as detailed below, and severance and other costs incurred as a result of transformational and restructuring initiatives. These decreases were partially offset by Q1 2024 impairment and closure costs in connection with the Q1 2024 closure of 36 U.S. restaurants.