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What guidance did Bloomin'Brands's management provide for the next earnings period?

Did Bloomin'Brands beat or miss consensus estimates last quarter?

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What does Bloomin'Brands do and what are its main business segments?

What were the key takeaways from Bloomin'Brands's earnings call?

- **Revenue Growth**: U.S. comp sales +120 bps, Outback +40 bps, first positive Outback quarter since Q2 2023.
- **Investment Plan**: $75M 2026-2028 for steak quality, service, marketing, and remodels, offset by $80M productivity.
- **Digital Shift**: 60% digital marketing spend, targeting younger guests with experiential campaigns.
- **Financial Guidance**: Q4 EPS $0.23-$0.28, 2025 U.S. comp sales flat to +50 bps.
- **Turnaround Execution**: Steak quality enhancements (+10pts satisfaction), 4:1 table-to-server ratio, and 100% Outback remodels by 2028.

**【CEO Summary Section】**
- **Operational Priorities**: Simplified menus (10%-20% SKU reduction), Ziosk adoption (85% guest usage), and Outback turnaround strategy with 42 test restaurants.
- **Q3 Results**: U.S. comp sales +120 bps (Outback +40 bps), first positive Outback comp since Q2 2023, and all brands achieving positive comp sales.
- **Turnaround Strategy**: $75M investment (2026-2028) in steak quality, service, marketing, and restaurants, offset by $80M productivity savings.
- **Key Initiatives**: Steak quality enhancements (+10pts guest satisfaction), reduced table-to-server ratio (4:1), and digital-first marketing shift (60% digital spend).

**【CFO Financial Commentary】**
- **Q3 Financials**: Total revenue $929M, U.S. comp sales +120 bps, adjusted loss $0.03 vs. $0.11 prior year, and Q4 EPS guidance $0.23-$0.28.
- **Cost Pressures**: COGS inflation 4.9%, labor 3.3%, and full-year COGS/labor inflation 3%-3.5%.
- **Turnaround Funding**: $50M 2026 investments (steak, service, marketing), $30M 2026 productivity, and $122M Brazil transaction proceeds.
- **Capital Allocation**: $190M+ capex for remodels ($400K/unit avg), dividend suspension, and debt reduction to 3.0x by 2028.

**【Q&A Key Highlights】**
- **Sustained Momentum**: Q3 trends continued into October, driven by value offers (Aussie 3-Course) and consistent execution across income/age cohorts.
- **Remodel Strategy**: 100% Outback remodels by 2028, focusing on guest-facing areas, with $400K/unit avg cost.
- **Marketing Shift**: 60% digital spend, targeting younger cohorts with experiential campaigns, delayed until 2026 Q2 service model rollout.
- **Beef Inflation**: 2025 mid-single-digit inflation, offset by menu engineering and value offers maintaining guest traffic.
- **Closures**: 21 underperforming restaurants closed, 22 leases not renewed, focusing on healthier portfolio.

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