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NASDAQ · Consumer Discretionary

BLOOMIN BRANDS INC BLMN

Bloomin' Brands is a multinational casual dining group with its core brand Outback Steakhouse. It also operates Bonefish Grill and has approximately 1,452 restaurants worldwide. The company is promoting a turnaround strategy centered on customer experience optimization, brand reshaping and operational efficiency improvement, and has launched a multi-year store renovation plan. The investment analysis focuses on the long-term profitability driven by same-store sales growth, cost pressure hedging and renovation investment.

Sources Company earnings and call materials quartr.com
Restaurants

Company profile

Business mix

  • Mainly the company's direct-operated and franchised full-service restaurants, the main brand Outback Steakhouse contributes most of the revenue, supplemented by differentiated brands such as Bonefish Grill, 75% of the stores are located in the United States.
  • The international business covers 12 countries, mainly based on the franchise model, with a limited revenue share but providing a light asset expansion path.

Current key questions

  • Whether the turnaround strategy can continue to boost customer flow and same-store sales, especially under the uncertain macro consumption environment.
  • The cost of key ingredients such as beef is high (high single-digit inflation), coupled with rising labor costs, the profit side is under pressure and needs to be hedged through pricing and efficiency optimization.
  • The store renovation plan requires a full-year capital expenditure of US$185-195 million, which may drag down free cash flow in the short term, but whether it can significantly increase customer flow and turnover rate in the long term remains to be verified.
Holders 2 Current sample portfolio
Public mentions 0 Videos / interviews / letters
Valuation snapshot
PE 29.8 FCF 19.15% Buyback -0.1%
2026-06-07

Current firm holders

Firm Weight Value Filing period
Starboard Value Jeff Smith 0.9% $43.1M 2026-03-31
Miller Value Partners Bill Miller 2.9% $11.0M 2026-03-31

Recent trading changes over the last 2 quarters

Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Net buyers 1 Last 2 13F filing periods
Net reducers 0 Last 2 13F filing periods
Unchanged holders 1 Share count unchanged
Increase amount $11.0M Estimated from net added shares
Reduction amount $0 Estimated from net reduced shares
Net share change / base shares +25.5% +2,036,734 / 7,980,992
Miller Value Partners Bill Miller 1 filing periods
13F 2026-03-31 Filed 2026-05-15
New Shares - 13F value change +$11.0M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 0 Last 2 periods +2,036,734 (New) Total shares 2,036,734 Value $11.0M
Starboard Value Jeff Smith 2 filing periods
13F 2025-12-31 Filed 2026-02-17
Unchanged Shares 0.0% 13F value change $0
13F 2026-03-31 Filed 2026-05-15
Unchanged Shares 0.0% 13F value change $0
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 7,980,992 Last 2 periods +0 (0.0%) Total shares 7,980,992 Value $43.1M

Recent mentions

No public mentions.