By Connor Hart

Bloomin' Brands said it continues to make progress on its turnaround efforts, logging higher profit, revenue and comparable-restaurant sales in the first quarter.

The owner of Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill on Wednesday posted a profit of $55.7 million, or 65 cents a share, compared with $42.2 million, or 50 cents a share, a year earlier.

Stripping out certain one-time items, earnings were 67 cents a share. Analysts polled by FactSet expected adjusted earnings of 47 cents a share.

Total revenue ticked 1% higher to $1.06 billion, just ahead of the $1.04 billion that Wall Street modeled.

Comparable-restaurant sales, or those from stores open 18 months or more, were up 0.9%. Analysts were looking for a 0.5% gain.

Shares climbed 7.1%, to $6.17, in premarket trading.

Chief Executive Mike Spanos said Bloomin' is taking steps to improve consistency and guest experience across its portfolio of restaurants. Looking ahead, the company will continue aiming to drive long-term, sustainable and profitable growth, he added.

Bloomin' maintained its outlook for the year, calling for same-restaurant sales to be up 0.5% to 2.5%, and for adjusted earnings of 75 cents to 90 cents a share. Analysts are looking for same-restaurant sales to grow 1.1%, and for adjusted earnings of 83 cents a share.

For the current quarter, the company guided for comparable-restaurant sales to grow 1% to 2%, compared with analyst views for a 1.2% gain. Adjusted earnings are projected to come in between 27 cents and 32 cents a share, ahead of Wall Street models for 22 cents a share.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 06, 2026 06:50 ET (10:50 GMT)

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