Third-Quarter Revenue Reaches $944.3 Million with Comparable Sales Up 1.9%
On November 6, 2026, casual dining restaurant holding company Bloomin' Brands, Inc.—operator of Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar—announced its operating and financial results for the thirteen-week third quarter ended September 27, 2026. The Tampa, Florida-headquartered restaurant operator reported total revenue of $944.3 million, representing a 1.7 percent year-over-year expansion compared to $928.8 million recorded in the third quarter of 2025 and topping Wall Street consensus expectations of approximately $925.2 million. Blended comparable restaurant sales across the portfolio increased 1.9 percent year over year.
Operating profitability delivered substantial structural improvements across company-owned restaurant networks. Bloomin' Brands posted GAAP operating income of $18.6 million for the third quarter, staging a decisive operational turnaround from an operating loss of $36.4 million reported during the corresponding period twelve months earlier. Restaurant-level operating margin expanded by 140 basis points to reach 10.6 percent, compared to 9.2 percent in the third quarter of 2025. Diluted loss per share from continuing operations contracted sharply to negative $0.02, compared to negative $0.54 a year earlier, while adjusted diluted loss per share came in at negative $0.17, outperforming consensus estimates projecting negative $0.23 per share.
Operating Income Swings to Positive $18.6 Million with Restaurant Margins at 10.6%
Operational disclosures confirmed that top-line performance was supported by menu pricing adjustments, higher guest check averages, and targeted productivity workflows across kitchen management systems. Additionally, third-quarter revenue recognized a $13.2 million commercial contribution resulting from an updated accounting estimate regarding historical gift card breakage redemption patterns. Net income attributable to Bloomin' Brands for the first 39 weeks of fiscal 2026 reached $84.8 million, nearly quadrupling from $21.7 million recorded across the identical timeframe in 2025.
Capitalizing on operating stability, executive management updated its financial forecast for the complete 2026 fiscal year. Bloomin' Brands raised its full-year GAAP diluted earnings per share outlook to a range of $1.06 to $1.11, up from its prior projection of $0.85 to $0.95 per share. Concurrently, the company elevated its adjusted diluted EPS outlook to $0.97 to $1.02 per share, compared to $0.90 to $1.00 previously guided. Full-year United States comparable restaurant sales growth is projected between 1.0 percent and 1.5 percent.
Raising Full-Year 2026 Diluted EPS Target to $1.06-$1.11 Ahead of Holiday Corridor
Restaurant industry equity analysts observed that disciplined labor scheduling and promotional marketing continue to stabilize traffic across core steakhouse concepts. As consumer spending remains selective amidst elevated inflation, value-tier dining promotions provide durable revenue support heading into the fourth-quarter holiday catering season.