Outback Steakhouse Parent Turnaround Gains Traction
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Bloomin' Brands, Inc. (NASDAQ:BLMN) saw its stock rise after reporting mixed quarterly results and progress on its turnaround strategy. The company operates over 1,450 restaurants globally, including Outback Steakhouse. In Q4, adjusted earnings per share were 25 cents, matching estimates, while sales reached $975.2 million, slightly below expectations. CEO Mike Spanos highlighted improvements in restaurant performance, with Outback achieving positive traffic for the first time since Q4 2021. The company forecasts Q1 GAAP earnings per share between 54-59 cents and projects fiscal 2026 earnings of 70-85 cents per share.
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