Overview

• U.S. casual dining operator's Q1 revenue rose 1%, beating analyst expectations

• Adjusted EPS for Q1 increased to $0.67, beating analyst expectations

• Revenue growth driven by higher average check and cost-saving initiatives, partly offset by inflation

Outlook

• Bloomin' Brands reaffirms full-year 2026 financial guidance as previously communicated

• Company expects Q2 U.S. comparable restaurant sales to rise 1% to 2%

• Bloomin' Brands sees Q2 diluted EPS of $0.24 to $0.29, adj diluted EPS $0.27 to $0.32

Result Drivers

• HIGHER AVERAGE CHECK - Co said higher average check per person, mainly due to pricing, boosted restaurant-level operating margin

• COST-SAVING INITIATIVES - Cost-saving and productivity initiatives contributed to improved restaurant-level operating margin

• INFLATIONARY PRESSURES - Higher commodity, operating and labor costs, mainly due to inflation, partially offset margin gains

Company press release: ID:nBw7gfmwWa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$1.06 bln	$1.04 bln (12 Analysts)
Q1 Adjusted EPS	Beat	$0.67	$0.57 (14 Analysts)
Q1 EPS		$0.64
Q1 Adjusted Operating Income Margin		5.90%

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 10 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the restaurants & bars peer group is "buy."

• Wall Street's median 12-month price target for Bloomin' Brands Inc is $7.00, about 21.5% above its May 5 closing price of $5.76

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

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