Casual dining restaurant company Bloomin’ Brands has reported a 1.8% decrease in total revenues to $1.04bn for the first quarter (Q1) of 2025, compared to $1.06bn posted in the same period of 2024.
The decline was mainly due to net restaurant closures and lower comparable sales.
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Net income attributable to Bloomin’ Brands was $42.1m for the quarter, compared to a net loss of $83.8m in the corresponding period of the previous year.
The company reported an adjusted diluted earnings per share of $0.59, compared to $0.64 in Q1 2024.
Generally accepted accounting principles operating income margin from continuing operations declined from Q1 2024 due to lower restaurant-level margins and restructuring costs, partially offset by previous-year impairment and closure charges related to the shutdown of 36 US restaurants.
Total US segment revenues decreased slightly to $1.03bn in Q1 2025, compared to $1.04bn in the same period of 2024.
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By GlobalDataBloomin’ Brands’ restaurant portfolio comprises Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar.
The company owns, operates and franchises 1,450 restaurants in 46 US states, the US territory of Guam, and 12 countries.
No shares were repurchased in 2025 and $96.8m remains under the 2024 programme.
Bloomin’ Brands CEO Mike Spanos stated: “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.
“We are navigating a choppy macro environment and are leaning into our abundant everyday value offerings. This is reflected in our current guidance.”
In August 2023, American hedge fund Starboard Value acquired a stake of more than 5% in Bloomin’ Brands.
