What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-08-06 compared with 2026-05-07 · 198 added, 140 removed, 488 unchanged (41% of the section changed)

2 unchanged sentences

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

MARCH 29, 2026 DECEMBER 28, 2025

JUNE 28, 2026 DECEMBER 28, 2025

Current assets

27 unchanged sentences

Preferred stock, $ 0.01 par value, 25,000,000 shares authorized;

no shares issued and outstanding as of March 29, 2026 and December 28, 2025

no shares issued and outstanding as of June 28, 2026 and December 28, 2025

Common stock, $ 0.01 par value, 475,000,000 shares authorized;

85,408,968 and 85,221,767 shares issued and outstanding as of March 29, 2026 and December 28, 2025, respectively

85,614,287 and 85,221,767 shares issued and outstanding as of June 28, 2026 and December 28, 2025, respectively

Additional paid-in capital 1,246,837 1,241,239

9 unchanged sentences

(IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED)

THIRTEEN WEEKS ENDED

MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Restaurant sales $ 997,957 $ 984,771 $ 2,039,783 $ 2,014,288

11 unchanged sentences

Interest expense, net ( 11,141 ) ( 10,699 ) ( 23,553 ) ( 21,886 )

Income before (benefit) provision for income taxes 46,691 46,044

(Benefit) provision for income taxes ( 10,291 ) 903

Income before benefit for income taxes 27,122 18,951 73,813 64,995

Benefit for income taxes ( 6,672 ) ( 8,748 ) ( 16,963 ) ( 7,845 )

Loss from equity method investment, net of tax ( 864 ) ( 1,806 ) ( 1,042 ) ( 3,097 )

Net income from continuing operations 32,930 25,893 89,734 69,743

Income (loss) from discontinued operations, net of tax 432 ( 254 )

(Loss) income from discontinued operations, net of tax ( 350 ) 779 82 525

Net income 32,580 26,672 89,816 70,268

6 unchanged sentences

Reclassification of foreign currency translation adjustments into earnings due to sale of business — — — 217,548

Net gain (loss) on derivatives, net of tax 1,648 ( 177 )

Net gain on derivatives, net of tax 266 290 1,914 113

Comprehensive income 33,993 28,693 95,447 287,307

13 unchanged sentences

Th e accompanying notes are an integral part of these unaudited consolidated financial statements.

* Represents less than $0.01.

Amounts may not add due to rounding.

7 unchanged sentences

SHARES AMOUNT

March 29, 2026 85,409 $ 854 $ 1,243,290 $ ( 861,943 ) $ 13,326 $ 3,240 $ 398,767

Net income — — — 31,344 — 1,236 32,580

Other comprehensive income, net of tax — — — — 1,413 — 1,413

Stock-based compensation — — 3,559 — — — 3,559

Common stock issued under stock plans (1) 205 2 ( 12 ) — — — ( 10 )

Distributions to noncontrolling interests — — — — — ( 1,628 ) ( 1,628 )

Contributions from noncontrolling interests — — — — — 387 387

June 28, 2026 85,614 $ 856 $ 1,246,837 $ ( 830,599 ) $ 14,739 $ 3,235 $ 435,068

December 28, 2025 85,222 $ 852 $ 1,241,239 $ ( 917,597 ) $ 9,108 $ 3,563 $ 337,165

5 unchanged sentences

Contributions from noncontrolling interests — — — — — 421 421

March 29, 2026 85,409 $ 854 $ 1,243,290 $ ( 861,943 ) $ 13,326 $ 3,240 $ 398,767

June 28, 2026 85,614 $ 856 $ 1,246,837 $ ( 830,599 ) $ 14,739 $ 3,235 $ 435,068

(CONTINUED...)

BLOOMIN’ BRANDS, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(IN THOUSANDS, EXCEPT PER SHARE DATA, UNAUDITED)

BLOOMIN’ BRANDS, INC.

COMMON STOCK ADDITIONAL PAID-IN CAPITAL ACCUM-

ULATED DEFICIT ACCUMULATED OTHER

COMPREHENSIVE (LOSS) INCOME NON-CONTROLLING INTERESTS TOTAL

COMPREHENSIVE INCOME (LOSS) NON-CONTROLLING INTERESTS TOTAL

SHARES AMOUNT

March 30, 2025 84,987 $ 850 $ 1,261,204 $ ( 883,682 ) $ 2,225 $ 4,253 $ 384,850

Net income — — — 25,419 — 1,253 26,672

Other comprehensive income, net of tax — — — — 2,021 — 2,021

Cash dividends declared, $ 0.15 per common share

— — ( 12,759 ) — — — ( 12,759 )

Stock-based compensation — — 2,403 — — — 2,403

Common stock issued under stock plans (1) 75 1 ( 46 ) — — — ( 45 )

Distributions to noncontrolling interests — — — — — ( 1,651 ) ( 1,651 )

Contributions from noncontrolling interests — — — — — 202 202

Retirement of warrants — — ( 399 ) — — — ( 399 )

June 29, 2025 85,062 $ 851 $ 1,250,403 $ ( 858,263 ) $ 4,246 $ 4,057 $ 401,294

December 29, 2024 84,855 $ 849 $ 1,273,288 $ ( 925,834 ) $ ( 212,793 ) $ 3,936 $ 139,446

7 unchanged sentences

Contributions from noncontrolling interests — — — — — 875 875

March 30, 2025 84,987 $ 850 $ 1,261,204 $ ( 883,682 ) $ 2,225 $ 4,253 $ 384,850

Retirement of warrants — — ( 399 ) — — — ( 399 )

June 29, 2025 85,062 $ 851 $ 1,250,403 $ ( 858,263 ) $ 4,246 $ 4,057 $ 401,294

________________

4 unchanged sentences

(IN THOUSANDS, UNAUDITED)

THIRTEEN WEEKS ENDED

MARCH 29, 2026 MARCH 30, 2025

TWENTY-SIX WEEKS ENDED

JUNE 28, 2026 JUNE 29, 2025

Cash flows provided by operating activities:

Net income $ 89,816 $ 70,268

Income (loss) from discontinued operations, net of tax 432 ( 254 )

Income from discontinued operations, net of tax 82 525

Net income from continuing operations 89,734 69,743

13 unchanged sentences

Net cash provided by operating activities $ 166,217 $ 123,128

Cash flows (used in) provided by investing activities:

Cash flows used in investing activities:

Capital expenditures $ ( 69,187 ) $ ( 84,297 )

4 unchanged sentences

Net cash used in investing activities of discontinued operations — ( 1,623 )

Net cash (used in) provided by investing activities $ ( 25,182 ) $ 39,733

Net cash used in investing activities $ ( 68,846 ) $ ( 1,203 )

Cash flows used in financing activities:

2 unchanged sentences

Repayments of finance lease obligations ( 1,403 ) ( 1,348 )

Principal settlements and repurchase of convertible senior notes — ( 20,724 )

Payments for retirement of warrants — ( 399 )

Payments of taxes from share-based compensation, net ( 627 ) ( 610 )

19 unchanged sentences

Description of the Business - Bloomin’ Brands, Inc.

(“Bloomin’ Brands” or the “Company”), a holding company that conducts its operations through its subsidiaries, is one of the largest casual dining restaurant companies in the world, with a portfolio of leading, differentiated restaurant concepts.

(“Bloomin’ Brands” or the “Company”), a holding company that conducts its operations through its subsidiaries, is one of the largest full-service dining restaurant companies in the world, with a portfolio of leading, differentiated restaurant concepts.

OSI Restaurant Partners, LLC (“OSI”) is the Company’s primary operating entity.

33 unchanged sentences

Following is a rollforward of the Company’s equity method investment for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Balance, beginning of the period $ 66,404 $ 61,776 $ 63,967 $ —

4 unchanged sentences

Revenue Recognition

The following table includes the disaggregation of Restaurant sales and franchise revenues by restaurant concept and segment for the periods indicated:

The following tables include the disaggregation of Restaurant sales and franchise revenues by restaurant concept and reportable segment for the periods indicated:

THIRTEEN WEEKS ENDED

MARCH 29, 2026 MARCH 30, 2025

JUNE 28, 2026 JUNE 29, 2025

(dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES

7 unchanged sentences

Total $ 997,957 $ 16,006 $ 984,771 $ 15,523

TWENTY-SIX WEEKS ENDED

JUNE 28, 2026 JUNE 29, 2025

(dollars in thousands) RESTAURANT SALES FRANCHISE REVENUES RESTAURANT SALES FRANCHISE REVENUES

Outback Steakhouse $ 1,176,588 $ 15,764 $ 1,169,378 $ 15,969

Carrabba’s Italian Grill 365,605 1,162 365,471 1,235

Bonefish Grill 273,565 141 262,662 193

Fleming’s Prime Steakhouse & Wine Bar 204,818 — 197,914 —

total 2,020,576 17,067 1,995,425 17,397

International Franchise (2) — 15,163 — 16,334

Other (1) 19,207 27 18,863 32

Total $ 2,039,783 $ 32,257 $ 2,014,288 $ 33,763

________________

(1) The thirteen weeks ended March 30, 2025 includes one additional month of pre-Brazil Sale Transaction intercompany royalties.

(1) Includes Restaurant sales for Company-owned restaurants in Hong Kong.

(2) The twenty-six weeks ended June 29, 2025 includes one month of pre-Brazil Sale Transaction intercompany royalties.

BLOOMIN’ BRANDS, INC.

1 unchanged sentence

(UNAUDITED) - Continued

Franchise Revenue - Effective December 31, 2023, the Company entered into an Amended & Restated Holistic Resolution Agreement (the “2023 Resolution Agreement”) with Cerca Trova Southwest Restaurant Group, LLC (d/b/a Out West Restaurant Group) and certain of its affiliates (collectively, “Out West”), who currently operate 72 franchised Outback Steakhouse restaurants in the western United States.

The 2023 Resolution Agreement provided for forbearance regarding prior defaults and established operating covenants to maintain such forbearance.

Subsequent to the thirteen weeks ended March 29, 2026, the Company received notice from the agent for Out West’s senior lender that Out West was in default of its separate Credit and Guaranty Agreement, dated as of April 25, 2017 (as amended or otherwise modified from time to time, the "Credit Agreement”) and Forbearance Agreement and Fourth Amendment to Credit and Guaranty Agreement (the “Forbearance Agreement”) with such agent and senior lenders as Out West was no longer in compliance with one or more covenants of such agreements.

The senior agent and lenders have not yet elected to take any specific actions with respect to the default notice and have not yet elected to terminate the Forbearance Agreement, Credit Agreement, or other credit documents.

Out West continues to operate its restaurants in the ordinary course and was current in its obligations to the Company as of March 29, 2026, including payment of royalties and other fees.

If the senior lenders exercise their rights under their forbearance agreement with respect to this default, or the forbearance agreement expires or is terminated, the lenders have a priority right to payment of amounts due and may exercise creditor remedies against Out West, subject to applicable law and loan documents, including foreclosure on Out West’s assets.

At this time, the Company is unable to predict the outcome of this process, possible actions by Out West’s lenders or any alternatives the Company may consider.

The Company is working with Out West and other parties to mitigate potential disruptions and actively evaluating operational, contractual and strategic alternatives to address Out West’s near-term liquidity constraints and longer-term operations.

The following table includes a detail of assets and liabilities from contracts with customers included on the Company’s Consolidated Balance Sheets as of the periods indicated:

(dollars in thousands) MARCH 29, 2026 DECEMBER 28, 2025

(dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025

Other current assets, net

9 unchanged sentences

The following table is a rollforward of deferred gift card sales commissions for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Balance, beginning of the period $ 13,633 $ 13,127 $ 17,155 $ 16,935

3 unchanged sentences

Balance, end of the period $ 12,919 $ 12,554 $ 12,919 $ 12,554

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The following table is a rollforward of unearned gift card revenue for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Balance, beginning of the period $ 313,425 $ 308,738 $ 370,439 $ 366,059

3 unchanged sentences

Balance, end of the period $ 302,404 $ 299,636 $ 302,404 $ 299,636

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Franchise Revenue - Effective December 31, 2023, the Company entered into an Amended & Restated Holistic Resolution Agreement (the “2023 Resolution Agreement”) with Cerca Trova Southwest Restaurant Group, LLC (d/b/a Out West Restaurant Group) and certain of its affiliates (collectively, “Out West”), who currently operate 71 franchised Outback Steakhouse restaurants in the western United States.

The 2023 Resolution Agreement provided for forbearance regarding prior defaults and established operating covenants to maintain such forbearance.

During the thirteen weeks ended June 28, 2026, the Company received notice from the agent for Out West’s senior lender that Out West was in default of its separate Credit and Guaranty Agreement, dated as of April 25, 2017 (as amended or otherwise modified from time to time, the "Credit Agreement”) and Forbearance Agreement and Fourth Amendment to Credit and Guaranty Agreement (the “Forbearance Agreement”) with such agent and senior lenders as Out West was no longer in compliance with one or more covenants of such agreements.

The agent and senior lenders have not yet elected to take any specific actions with respect to the default notice and have not yet elected to terminate the Forbearance Agreement, Credit Agreement, or other credit documents.

Out West continues to operate its restaurants in the ordinary course and was current in its obligations to the Company as of June 28, 2026, including payment of royalties and other fees.

If the senior lenders exercise their rights under their Forbearance Agreement with respect to this default, or the Forbearance Agreement expires or is terminated, the lenders have a priority right to payment of amounts due and may exercise creditor remedies against Out West, subject to applicable law and loan documents, including foreclosure on Out West’s assets.

At this time, the Company is unable to predict the outcome of this situation or possible actions by Out West or Out West’s lenders or any alternatives that these parties may consider, which could include a court-supervised process.

The Company is working with Out West and other parties to mitigate potential disruptions and is actively evaluating the Company’s operational, contractual and strategic alternatives to address Out West’s near-term liquidity constraints and longer-term operations.

Impairments and Exit Costs

The components of Provision for impaired assets and restaurant closings are as follows for the periods indicated:

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Impairment losses

impairment losses $ 2,582 $ 5,680 $ 6,162 $ 6,266

Restaurant closure charges (benefits)

$ 1,405 $ ( 3,726 ) $ 3,296 $ ( 3,670 )

Other ( 15 ) ( 414 ) 46 ( 706 )

Total restaurant closure charges (benefits) 1,390 ( 4,140 ) 3,342 ( 4,376 )

Provision for impaired assets and restaurant closings $ 3,972 $ 1,540 $ 9,504 $ 1,890

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Earnings Per Share

The following table presents the computation of basic and diluted earnings per share for the periods indicated:

THIRTEEN WEEKS ENDED

(in thousands, except per share data) MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(in thousands, except per share data) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Net income attributable to Bloomin’ Brands

$ 31,344 $ 25,419 $ 86,998 $ 67,571

Income (loss) from discontinued operations, net of tax 432 ( 254 )

(Loss) income from discontinued operations, net of tax ( 350 ) 779 82 525

Net income attributable to Bloomin’ Brands from continuing operations $ 31,694 $ 24,640 $ 86,916 $ 67,046

15 unchanged sentences

(1) Amounts may not add due to rounding.

* Represents less than $0.01.

BLOOMIN’ BRANDS, INC.

10 unchanged sentences

Forfeited ( 33 ) ( 41 ) $ 13.61 $ 9.77

Outstanding as of March 29, 2026 1,547 2,980 $ 7.95 $ 7.27 $ 8,137 $ 15,676

Expected to vest as of March 29, 2026 (4) 1,424 2,980 $ 7,491 $ 15,676

Outstanding as of June 28, 2026 1,522 2,936 $ 7.82 $ 7.13 $ 13,651 $ 26,333

Expected to vest as of June 28, 2026 (4) 1,410 2,936 $ 12,648 $ 26,333

________________

(1) Based on the $ 6.79 and $ 5.26 share price of the Company’s common stock on the last trading day of the year ended December 28, 2025 and the thirteen weeks ended March 29, 2026, respectively.

(2) For PSUs, a new performance structure was used for certain grants beginning in 2025.

The new structure contains separate performance goals that are set at the beginning of each of the three annual performance periods and units earned based on performance will cliff vest after three years .

(1) Based on the $ 6.79 and $ 8.97 share price of the Company’s common stock on the last trading day of the year ended December 28, 2025 and the twenty-six weeks ended June 28, 2026, respectively.

(2) Beginning in 2025, PSU grants contain separate performance goals that are set at the beginning of each of the three annual performance periods and units earned based on performance will cliff vest after three years .

(3) Represents adjustment to 0 % payout for PSUs granted during 2023 and adjustment to 67 % payout for the first annual performance period for PSUs granted during 2025.

(4) For PSUs, the estimated number of units to be issued upon the vesting of outstanding PSUs is based on Company performance projections of performance criteria set forth in the 2024, 2025 and 2026 PSU award agreements.

The following represents unrecognized stock-based compensation expense and the remaining weighted average recognition period as of March 29, 2026:

The following represents unrecognized stock-based compensation expense and the remaining weighted average recognition period as of June 28, 2026:

UNRECOGNIZED COMPENSATION EXPENSE

4 unchanged sentences

Other current assets, net , consisted of the following as of the periods indicated:

(dollars in thousands) MARCH 29, 2026 DECEMBER 28, 2025

(dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025

Prepaid expenses $ 21,366 $ 24,018

9 unchanged sentences

(UNAUDITED) - Continued

Goodwill and Intangible Assets - The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets as of the first day of its second fiscal quarter.

The 2026 annual assessment was qualitative.

During the thirteen weeks ended June 29, 2025, the Company performed a quantitative annual impairment analysis due to a decline in the Company’s stock price and market capitalization.

In connection with the 2026 and 2025 annual assessments, the Company did no t record any impairment charges.

During the thirteen weeks ended December 28, 2025, the Company also performed an interim quantitative impairment analysis as a result of:

(i) a sustained decline in the Company’s stock price and market capitalization and (ii) a decline in margins specific to the Bonefish Grill reporting unit.

In connection with this analysis, the Company determined that the Bonefish Grill reporting unit was impaired and $ 28.2 million of goodwill impairment was recorded to fully impair the goodwill of the reporting unit.

Accrued and other current liabilities consisted of the following as of the periods indicated:

(dollars in thousands) MARCH 29, 2026 DECEMBER 28, 2025

(dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025

Accrued payroll and other compensation $ 71,637 $ 79,436

3 unchanged sentences

Long-term debt, net , consisted of the following as of the periods indicated:

MARCH 29, 2026 DECEMBER 28, 2025

JUNE 28, 2026 DECEMBER 28, 2025

(dollars in thousands) OUTSTANDING BALANCE INTEREST RATE OUTSTANDING BALANCE INTEREST RATE

7 unchanged sentences

Interest rate represents the weighted average interest rate as of the respective periods.

Debt Covenants - As of March 29, 2026 and December 28, 2025, the Company was in compliance with its debt c ovenants.

Debt Covenants - As of June 28, 2026 and December 28, 2025, the Company was in compliance with its debt c ovenants.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Stockholders’ Equity

Accumulated Other Comprehensive Income (“AOCI”) - The following table is a rollforward of the components of AOCI for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Foreign currency translation:

5 unchanged sentences

$ 12,979 $ 4,754 $ 12,979 $ 4,754

Income (loss) on derivatives, net of tax:

Net gain (loss) on derivatives, net of tax:

Balance, beginning of the period $ 1,494 $ ( 798 ) $ ( 154 ) $ ( 621 )

6 unchanged sentences

Balance, end of the period $ 14,739 $ 4,246 $ 14,739 $ 4,246

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Derivative Instruments and Hedging Activities

3 unchanged sentences

Designated Hedges

Cash Flow Hedges of Interest Rate Risk - To manage its exposure to fluctuations in variable interest rates, in March 2024 and December 2023, OSI entered into 11 interest rate swap agreements with ten counterparties with an aggregate notional amount of $ 375.0 million and one and two-year tenors (the “2023 and 2024 Swap Agreements”).

The Company had $ 100.0 million of interest rate swap agreements that matured on December 31, 2024 and December 31, 2025, respectively.

In October 2025, OSI entered into an additional eight interest rate swap agreements with eight counterparties with an aggregate notional amount of $ 300.0 million and 12 - and 21 -month tenors (the “2025 Swap Transactions”, together with the 2023 and 2024 Swap Agreements, the “Swap Transactions”).

Cash Flow Hedges of Interest Rate Risk - To manage its exposure to fluctuations in variable interest rates, in March 2024 and December 2023, the Company entered into 11 interest rate swap agreements with ten counterparties with an aggregate notional amount of $ 375.0 million and one and two-year tenors (the “2023 and 2024 Swap Agreements”).

The Company had $ 100.0 million of interest rate swap agreements mature on December 31, 2024 and December 31, 2025, respectively, and $ 175.0 million of interest rate swap agreements mature on March 31, 2026 .

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

In October 2025, the Company entered into an additional eight interest rate swap agreements with eight counterparties with an aggregate notional amount of $ 300.0 million and 12 - and 21 -month tenors (the “2025 Swap Transactions”, together with the 2023 and 2024 Swap Agreements, the “Swap Transactions”).

The following are the terms of the remaining Swap Transactions:

NOTIONAL AMOUNT WEIGHTED AVERAGE FIXED INTEREST RATE (1) EFFECTIVE DATE TERMINATION DATE

$ 175,000,000 4.40 % March 29, 2024 March 31, 2026

$ 100,000,000 3.37 % December 31, 2025 December 31, 2026

5 unchanged sentences

The Swap Transactions have been designated and qualify as cash flow hedges, are recognized on the Company’s Consolidated Balance Sheets at fair value and are classified based on the instruments’ maturity dates.

The Company estimates $ 1.3 million of interest income will be reclassified from Accumulated Other Comprehensive Income to Interest expense, net over the next 12 months related to the remaining Swap Transactions.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The Company estimates $ 1.6 million of interest income will be reclassified from Accumulated Other Comprehensive Income to Interest expense, net over the next 12 months related to the outstanding Swap Transactions.

The following table presents the fair value and classification of the Company’s Swap Transactions as of the periods indicated:

(dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION MARCH 29, 2026 DECEMBER 28, 2025

(dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION JUNE 28, 2026 DECEMBER 28, 2025

Interest rate swaps - asset Other current assets, net $ 1,495 $ 208

9 unchanged sentences

The Company continually assesses the creditworthiness of its counterparties.

As of March 29, 2026, all counterparties to the Swap Transactions performed in accordance with their contractual obligations.

As of June 28, 2026, all counterparties to the Swap Transactions performed in accordance with their contractual obligations.

The Swap Transactions contain provisions whereby the Company could be declared in default on its derivative obligations if the repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on indebtedness.

As of March 29, 2026 and December 28, 2025, the Company has not posted any collateral related to the Swap Transactions.

As of June 28, 2026 and December 28, 2025, the Company has not posted any collateral related to the Swap Transactions.

The Company’s Swap Transactions are subject to master netting arrangements.

As of March 29, 2026, the Company elected not to offset derivative positions in its Consolidated Balance Sheet with the same counterparty under the same agreement.

As of June 28, 2026, the Company elected not to offset derivative positions in its Consolidated Balance Sheet with the same counterparty under the same agreement.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Non-Designated Hedges

1 unchanged sentence

During the thirteen weeks ended December 28, 2025, the Company received the final installment payment related to the Brazil Sale Transaction and the foreign currency forward contracts matured.

The followin g table summarizes the effects of the Company’s foreign exchange forward contracts on the Consolidated Statements of Operations and Comprehensive Income for the period indicated:

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 30, 2025

The followin g table summarizes the effects of the Company’s foreign exchange forward contracts on the Consolidated Statements of Operations and Comprehensive Income for the periods indicated:

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 29, 2025 JUNE 29, 2025

Loss on foreign currency forward contracts (1) General and administrative $ 8,461 $ 18,711

____________________

(1) The loss on foreign currency forward contracts, which includes costs in connection with the forward contracts, is partially offset within General and administrative expense by foreign currency exchange gains of $ 7.9 million related to the installment receivable from the Brazil Sale Transaction.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

(1) The loss on foreign currency forward contracts, which includes costs in connection with the forward contracts, is partially offset within General and administrative expense by foreign currency exchange gains of $ 6.2 million and $ 14.2 million for the thirteen and twenty-six weeks ended June 29, 2025, respectively, related to the installment receivable from the Brazil Sale Transaction.

The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:

(dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION MARCH 29, 2026 DECEMBER 28, 2025

(dollars in thousands) CONSOLIDATED BALANCE SHEETS CLASSIFICATION JUNE 28, 2026 DECEMBER 28, 2025

Operating lease right-of-use assets Operating lease right-of-use assets $ 967,380 $ 979,270

7 unchanged sentences

________________

(1) Net of accumulated amortization of $ 6.1 million and $ 5.4 million as of March 29, 2026 and December 28, 2025, respectively.

(1) Net of accumulated amortization of $ 6.0 million and $ 5.4 million as of June 28, 2026 and December 28, 2025, respectively.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income for the periods indicated:

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Operating lease cost (1) Other restaurant operating $ 42,604 $ 42,623 $ 85,055 $ 84,928

6 unchanged sentences

________________

(1) Excludes rent expense for office facilities and closed or subleased properties of $ 3.2 million and $ 3.6 million for the thirteen weeks ended March 29, 2026 and March 30, 2025, respectively, which is included in General and administrative expense.

(1) Excludes rent expense for office facilities and closed or subleased properties of $ 3.1 million and $ 3.4 million for the thirteen weeks ended June 28, 2026 and June 29, 2025, respectively, and $ 6.4 million and $ 7.0 million for the twenty-six weeks ended June 28, 2026 and June 29, 2025, respectively, which is included in General and administrative expense.

The following table is a summary of supplemental information related to leases for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025

Cash flows from operating activities:

2 unchanged sentences

Leased assets obtained in exchange for new finance lease liabilities $ — $ 5,629

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Fair Value Measurements

7 unchanged sentences

MEASUREMENT LEVEL FAIR VALUE

(dollars in thousands) MARCH 29, 2026 DECEMBER 28, 2025

(dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025

Short-term investments Cash and cash equivalents Level 1 $ 5,172 $ 5,597

3 unchanged sentences

Interest rate swaps Other long-term liabilities Level 2 $ — $ 87

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Fair value of each class of financial instruments is determined based on the following:

4 unchanged sentences

The Company also considers its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements.

As of March 29, 2026 and December 28, 2025, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives.

As of June 28, 2026 and December 28, 2025, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives.

Interim Disclosures about Fair Value of Financial Instruments - The Company’s non-derivative financial instruments consist of cash equivalents, accounts receivable, accounts payable and long-term debt.

3 unchanged sentences

The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated:

MARCH 29, 2026 DECEMBER 28, 2025

JUNE 28, 2026 DECEMBER 28, 2025

(dollars in thousands) CARRYING VALUE FAIR VALUE LEVEL 2 CARRYING VALUE FAIR VALUE LEVEL 2

1 unchanged sentence

2029 Notes $ 300,000 $ 286,551 $ 300,000 $ 269,505

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Income before benefit for income taxes $ 27,122 $ 18,951 $ 73,813 $ 64,995

Benefit for income taxes $ ( 6,672 ) $ ( 8,748 ) $ ( 16,963 ) $ ( 7,845 )

Effective income tax rate ( 24.6 ) % ( 46.2 ) % ( 23.0 ) % ( 12.1 ) %

In the U.S., a restaurant company employer may claim a credit against its federal income taxes for FICA taxes paid on certain tipped wages (the “FICA Tax Credits”).

The level of FICA Tax Credits is primarily driven by U.S.

Restaurant sales and is not impacted by costs incurred that may reduce Income before benefit for income taxes.

For the thirteen and twenty-six weeks ended June 28, 2026 and June 29, 2025, the Benefit for income taxes includes the benefit of FICA Tax Credits on certain tipped wages relative to forecasted full-year Income before benefit for income taxes.

The Benefit for income taxes for the thirteen weeks ended June 28, 2026 is lower than the thirteen weeks ended June 29, 2025 due to the impact of changes to the estimate of forecasted annual Income before benefit for income taxes relative to the prior quarter and the benefit of FICA Tax Credits for the thirteen weeks ended June 29, 2025.

The Benefit for income taxes for the twenty-six weeks ended June 28, 2026 is higher than the twenty-six weeks ended June 29, 2025, despite higher Income before benefit for income taxes, primarily due to lower forecasted full-year Income before benefit for income taxes in 2026 compared to 2025, which increased the relative benefit of the FICA Tax Credits.

BLOOMIN’ BRANDS, INC.

1 unchanged sentence

(UNAUDITED) - Continued

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

Income before (benefit) provision for income taxes $ 46,691 $ 46,044

(Benefit) provision for income taxes $ ( 10,291 ) $ 903

Effective income tax rate ( 22.0 ) % 2.0 %

In the U.S., a restaurant company employer may claim a credit against its federal income taxes for FICA taxes paid on certain tipped wages (the “FICA tax credit”).

The level of FICA tax credits is primarily driven by U.S.

Restaurant sales and is not impacted by costs incurred that may reduce Income before (benefit) provision for income taxes.

For the thirteen weeks ended March 29, 2026 and March 30, 2025, the (benefit) provision for income taxes includes the benefit of FICA tax credits on certain tipped wages relative to forecasted full year Income before (benefit) provision for income taxes.

A higher forecasted full year Income before (benefit) provision for income taxes for 2025 when compared to forecasted full year Income before (benefit) provision for income taxes for 2026, resulted in provision for income taxes for the thirteen weeks ended March 30, 2025 as compared to benefit for income taxes for the thirteen weeks ended March 29, 2026.

The effective income tax rate for the thirteen weeks ended March 29, 2026 and March 30, 2025 was lower than the Company’s blended federal and state statutory rate of approximately 26 % primarily due to the benefit of FICA tax credits on certain tipped wages.

The effective income tax rate for the thirteen and twenty-six weeks ended June 28, 2026 and June 29, 2025 was lower than the Company’s blended federal and state statutory rate of approximately 26 % primarily due to the benefit of the FICA Tax Credits .

The following table is a summary of cash paid for income taxes for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025

Cash paid for income taxes, net of refunds (1) $ 4,353 $ 22,288

________________

(1) The thirteen weeks ended March 30, 2025 includes approximately $ 13.3 million of withholding taxes related to the first installment of the Brazil Sale Transaction.

(1) The twenty-six weeks ended June 29, 2025 includes approximately $ 14.1 million of withholding taxes related to the first installment of the Brazil Sale Transaction.

Commitments and Contingencies

Litigation and Other Matters - The Company recorded reserves of $ 4.9 million for certain of its outstanding legal proceedings as of March 29, 2026 and December 28, 2025, within Accrued and other current liabilities on its Consolidated Balance Sheets.

Litigation and Other Matters - The Company had reserves of $ 5.0 million and $ 4.9 million for certain of its outstanding legal proceedings as of June 28, 2026 and December 28, 2025, respectively, within Accrued and other current liabilities on its Consolidated Balance Sheets.

While the Company believes that additional losses beyond these accruals are reasonably possible, it cannot estimate a possible loss contingency or range of reasonably possible loss contingencies beyond these accruals.

Lease Guarantees - The Company assigned its interest, and is contingently liable, under certain real estate leases, the latest of which expires in 2032.

As of March 29, 2026, the undiscounted payments that the Company could be required to make in the event of non-payment by the primary lessees were $ 10.4 million.

The present value of these potential payments discounted at the Company’s incremental borrowing rate as of March 29, 2026 was $ 8.7 million.

As of March 29, 2026 and December 28, 2025, the Company’s recorded contingent lease liability was $ 1.6 million.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

As of June 28, 2026, the undiscounted payments that the Company could be required to make in the event of non-payment by the primary lessees were $ 9.7 million.

The present value of these potential payments discounted at the Company’s incremental borrowing rate as of June 28, 2026 was $ 7.9 million.

As of June 28, 2026 and December 28, 2025, the Company’s recorded contingent lease liability was $ 1.6 million.

Segment Reporting

9 unchanged sentences

(1) Includes franchise locations.

All other operating segments, which comprise the Company’s Hong Kong subsidiary and equity method investment in Brazil, do not meet the quantitative thresholds for determining reportable segments.

Segment accounting policies are the same as those described in Note 1 - Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 28, 2025.

3 unchanged sentences

are certain legal and corporate costs not directly related to the performance of the segment, most stock-based compensation expenses, a portion of insurance expenses and certain bonus expenses.

In the tables below, “other” primarily includes amounts related to the Company’s Hong Kong subsidiary and its equity method investment in Brazil.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

Operating income is utilized by the Company’s Chief Operating Decision Maker (“CODM”) as the primary segment profit or loss measure to allocate resources in the planning and forecasting process and also to review operating performance by monitoring actual results versus prior year and forecasts.

The following table is a summary of revenues by segment for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

$ 998,632 $ 985,828 $ 2,041,085 $ 2,016,731

1 unchanged sentence

Total segment revenues 1,006,225 992,879 2,056,248 2,033,065

All other revenues 9,650 9,408

All other 9,584 9,487 19,234 18,895

Total revenues $ 1,015,809 $ 1,002,366 $ 2,075,482 $ 2,051,960

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The following table presents segment operating income and significant segment expense information for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Total revenues $ 998,632 $ 985,828 $ 2,041,085 $ 2,016,731

2 unchanged sentences

Other restaurant operating 249,522 247,446 502,891 501,055

Other (1) 72,401 66,607

Other expenses (1) 70,576 66,855 142,977 133,462

Total segment expenses 931,033 917,367 1,885,470 1,860,600

13 unchanged sentences

(1) Includes Depreciation and amortization and General and administrative expense.

segment also includes impairment expense.

(2) The thirteen weeks ended March 30, 2025 includes one additional month of pre-Brazil Sale Transaction intercompany royalties.

The following table is a reconciliation of segment income from operations to Income before (benefit) provision for income taxes for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

segment also includes Provision for impaired assets and restaurant closings.

(2) The twenty-six weeks ended June 29, 2025 includes one month of pre-Brazil Sale Transaction intercompany royalties.

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The following table is a reconciliation of segment income from operations to Income before benefit for income taxes for the periods indicated:

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Total segment income from operations $ 75,008 $ 75,299 $ 170,360 $ 171,973

Unallocated corporate operating expense ( 37,385 ) ( 46,422 ) ( 74,113 ) ( 86,190 )

Other income from operations 479 325

All other 640 773 1,119 1,098

Total income from operations 38,263 29,650 97,366 86,881

Interest expense, net ( 11,141 ) ( 10,699 ) ( 23,553 ) ( 21,886 )

Income before (benefit) provision for income taxes $ 46,691 $ 46,044

Income before benefit for income taxes $ 27,122 $ 18,951 $ 73,813 $ 64,995

The following table is a summary of depreciation and amortization by segment for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

THIRTEEN WEEKS ENDED TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025 JUNE 28, 2026 JUNE 29, 2025

Depreciation and amortization

1 unchanged sentence

Corporate 2,175 2,205 4,276 4,289

Other 161 250

All other 61 248 222 498

Total depreciation and amortization $ 46,010 $ 44,598 $ 92,306 $ 88,545

BLOOMIN’ BRANDS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED) - Continued

The following table is a summary of capital expenditures by segment, for the periods indicated:

THIRTEEN WEEKS ENDED

(dollars in thousands) MARCH 29, 2026 MARCH 30, 2025

TWENTY-SIX WEEKS ENDED

(dollars in thousands) JUNE 28, 2026 JUNE 29, 2025

Capital expenditures

1 unchanged sentence

Corporate 1,904 7,380

All other 77 11

Total capital expenditures $ 69,187 $ 84,297

The following table sets forth Total assets by segment as of the periods i ndicated:

(dollars in thousands) MARCH 29, 2026 DECEMBER 28, 2025

(dollars in thousands) JUNE 28, 2026 DECEMBER 28, 2025

$ 2,509,708 $ 2,598,842

2 unchanged sentences

Corporate 416,816 387,573

Other (1) 82,350 80,255

All other 86,792 80,255

Total assets $ 3,118,055 $ 3,171,907

_________________

(1) Includes the Company’s equity method investment in Brazil.

BLOOMIN’ BRANDS, INC.

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements