Bloomin Brands Inc · Q2 2022 earnings

Briefing

Reported solid results despite increased inflationary headwinds and a softening macro environment.

Bloomin' Brands reported Q2 2022 results, highlighting the strength of their portfolio despite increased inflationary headwinds and a softening macro environment. The company's ability to leverage its off-premises business and digital capabilities enabled them to deliver on their commitments. They are focused on elevating guest experience and driving sustainable sales and profits.

• Delivered a solid quarter of results that highlights the strength of the portfolio.
• Achieved this performance despite increased inflationary headwinds and a softening macro environment in June.
• Leveraged our leading off-premises business, capitalize on growing digital capabilities, and improve operational efficiencies.
• Focused on executing against our strategy to elevate the guest experience while driving sustainable sales and profits to thrive in this challenging environment.

Headline financials

Revenue & EPS history

The company has increased its full year outlook for total revenues and expect the profit benefits from the increased revenues to be offset by higher than expected inflation. We are reaffirming all other aspects of our full-year financial guidance as previously communicated in our April 29, 2022 earnings release, including adjusted EBITDA and adjusted diluted earnings per share.