Bloomin' Brands Tightens FY2026 EPS Guidance Amid Franchisee Bankruptcy
Bloomin' Brands (BLMN) has narrowed its full-year 2026 earnings per share (EPS) guidance to a range of $0.97 to $1.02, while projecting U.S. comparable sales growth between 1% and 1.5%. The company is navigating operational shifts following the bankruptcy filing of 'Out West,' a domestic franchisee for Outback Steakhouse. To mitigate the impact of this bankruptcy, CEO Michael Spanos announced that Bloomin' Brands has entered into a stalking horse purchase agreement to acquire the 61 restaurants previously operated by the franchisee. The company expects the acquisition process to be completed in the near future.
Tickers: $BLMN
Topics: Acquisition Bankruptcy Franchisee Update Stalking Horse Bid
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