Bloomin' Brands, Inc

What Bloomin' Brands, Inc does

Bloomin' Brands, Inc. (NASDAQ: BLMN) is a publicly traded casual dining restaurant company headquartered in Tampa, Florida, founded in 1988 with the opening of the first Outback Steakhouse. The company operates a four-brand portfolio of differentiated concepts in the United States: Outback Steakhouse (Australian-themed casual steakhouse, ~700 domestic locations), Carrabba's Italian Grill (Italian-American, ~190 locations), Bonefish Grill (seafood, ~160 locations), and Fleming's Prime Steakhouse & Wine Bar (upscale steakhouse, ~60 locations), with additional sub-brands including Aussie Grill by Outback, Abbraccio Cucina Italiana, Tender Shack, and Outback & Carrabba's Express. The portfolio spans casual to fine-dining price points targeting mid-market consumers (Outback, Carrabba's, Bonefish), value-seeking households, and higher-income customers at Fleming's. Internationally, the company operates an asset-light franchise platform with more than 340 locations across 12 countries and Guam under the Outback, Abbraccio, and Aussie Grill brands.

The company generates revenue primarily through company-owned restaurant sales (dine-in, takeout, and delivery) augmented by franchise royalties, initial franchise fees, and gift card sales. Supporting technology includes brand-specific mobile applications, online ordering, the Dine Rewards points-based loyalty program (5 points per dollar, redemption at 350 points = $5), Ziosk tabletop ordering devices being deployed across locations, and integrations with third-party delivery aggregators. Approximately 64,000 team members operate more than 1,450 restaurants across 46 U.S. states, Guam, and 12 countries. The company underwent an activist-influenced turnaround beginning with Starboard Value's 9.9% stake in August 2023 and a near-complete senior leadership refresh in 2024-2025 under new CEO Michael Spanos.

Bloomin' Brands reported approximately $3.96 billion in 2025 revenue, declining from $4.17 billion in 2023, with adjusted EBITDA of ~$295 million (versus ~$485 million in 2023) reflecting sustained casual dining traffic pressure and operating deleverage. Q4 2025 revenue declined 11.09% YoY to $975 million, though Outback Steakhouse posted its first positive traffic growth since Q4 2021 in that quarter, an early operational signal that the turnaround thesis is gaining traction. With a market capitalization of ~$539 million (March 2026) and a stock price near $6, the equity trades at ~6x forward earnings, and high-profile investors including Miller Value Partners have added positions on a Deep Value thesis that adjusted EBITDA could expand from ~$270M toward ~$500M.

Name

Bloomin' Brands, Inc

Legal name

Bloomin' Brands, Inc.

Website

https://bloominbrands.com

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Bloomin' Brands (NASDAQ: BLMN) is a publicly traded casual dining company operating four U.S. restaurant brands — Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse — across 1,450+ locations in 46 states, with an additional 340+ international franchise locations in 12 countries and Guam.

Ownership category

akta.pro rank

Product category

Casual Dining Restaurants

NAICS

Full-Service Restaurants (722511), Limited-Service Restaurants (722513)

SIC

Retail-Eating Places (5812)

akta.pro primary industry

Steakhouses & Seafood Restaurants (THAFACAE)

akta.pro secondary industries

All-Day Dining Restaurants (THAFACAJ), Fine Dining Restaurants (THAFACAA), Brasseries, Bistros & Trattorias (THAFACAI)

Keywords

• Casual dining restaurants
• Steakhouse chains
• Restaurant franchise operations
• Loyalty rewards programs
• Gift card services

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Company-Owned Restaurant Sales: The primary revenue stream comes from company-owned restaurant locations across Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar. Revenue is generated through dine-in, takeout, and delivery sales at these locations.
2. Franchise Royalties and Fees: International franchise operations generate revenue through royalty fees and initial franchise fees from franchisees operating Outback Steakhouse and other brands in 12 countries and Guam with over 340 international franchise locations.
3. Gift Card Sales: Sale of gift cards and e-gift cards redeemable at all Bloomin' Brands restaurant locations

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Bloomin' Brands operates a multi-brand casual dining restaurant portfolio, including Outback Steakhouse (Australian-themed steakhouse), Carrabba's Italian Grill (Italian-American), Bonefish Grill (seafood), and Fleming's Prime Steakhouse & Wine Bar (upscale steakhouse). The company generates the majority of revenue through dine-in, takeout, and delivery sales at company-owned restaurants, supplemented by international franchise royalties and gift card sales. It supports operations with the Dine Rewards loyalty program and brand-specific mobile apps for digital ordering.

Product overview

Bloomin' Brands is one of the world's largest casual dining restaurant companies operating a portfolio of four founder-inspired restaurant brands: Outback Steakhouse (steakhouse), Carrabba's Italian Grill (Italian), Bonefish Grill (seafood), and Fleming's Prime Steakhouse & Wine Bar (upscale steakhouse). The company also operates international concepts including Aussie Grill by Outback and Abbraccio Cucina Italiana. With approximately 64,000 Team Members and more than 1,450 restaurants across 46 states, Guam, and 12 countries, Bloomin' Brands offers a complementary set of casual and fine-dining experiences. Supporting the core restaurant operations, the company provides a loyalty program (Dine Rewards) and gift card products.

Differentiator

Problem solved

Functional benefit

Brands

• Dine Rewards: Company's loyalty rewards program allowing members to earn points for dining at participating Bloomin' Brands restaurants and redeem for discounts.

Products and services

• Outback Steakhouse Australian-themed casual dining steakhouse chain offering a variety of steaks, seafood, and American favorites. Flagship brand with nearly 700 domestic locations serving consumers seeking casual sit-down dining.
• Carrabba's Italian Grill Italian grill restaurant chain featuring Italian-American cuisine including pasta, seafood, and chops, with more than 190 restaurants nationwide.
• Bonefish Grill
• Fleming's Prime Steakhouse & Wine Bar
• Aussie Grill by Outback
• Abbraccio Cucina Italiana
• Dine Rewards
• Bloomin' Brands Gift Cards

Quantifiable outcome

• First positive traffic growth at Outback Steakhouse since Q4 2021, reported in Q4 2025
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and core.

• PricewaterhouseCoopers LLPminorOthers · 24 April 2026PricewaterhouseCoopers LLP was ratified as the company's independent registered public accounting firm at the 2026 Annual Meeting of Stockholders. Shareholders elected all nine director nominees with 88.71% of outstanding shares represented.
• International FranchiseescoreChannel Partner/ Reseller/ DistributorBloomin' Brands has more than 340 franchise locations internationally across 12 countries and Guam. The company offers franchise opportunities for Outback Steakhouse, Abbraccio Cucina Italiana, and Aussie Grill by Outback brands globally, providing a proven platform with management team and infrastructure support.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Darden Restaurants: Largest U.S. full-service casual dining operator (Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, Capital Grille). Direct competitor across casual and upscale segments with broader scale and stronger recent execution — the benchmark Bloomin' Brands is benchmarked against.
• Texas Roadhouse: Casual dining steakhouse chain with comparable per-restaurant volume to Outback Steakhouse. Competes for value-seeking casual diners and has demonstrated stronger traffic and margin trends, making it a key relative-performance benchmark.
• Dine Brands Global: Franchisor of Applebee's and IHOP — two of the largest U.S. casual dining brands. Directly comparable business model (multi-brand casual dining) with similar franchise and company-operated mix and similar value-seeker customer base.
• Brinker International: Operates Chili's Grill & Bar and Maggiano's Little Italy — casual dining chains with overlapping customer segments and bar-and-grill positioning. Similar recent turnaround narrative and pressure on traffic.
• Cracker Barrel Old Country Store: Casual dining chain targeting value-conscious families and travelers in secondary markets. Comparable customer demographic (lower-to-middle income) and similar exposure to casual dining headwinds.
• Cheesecake Factory: Casual dining operator with broad menu and experiential positioning. Comparable full-service casual dining model and similar recent traffic and margin pressure as Bloomin' Brands.
• BJ's Restaurants: Casual dining chain specializing in deep-dish pizza, handcrafted beers, and American fare. Comparable casual dining format with similar suburban footprint and value-conscious positioning.

Emerging players

• The ONE Group Hospitality: Operator of STK Steakhouse — a comparable upscale steakhouse concept to Fleming's with strong comparable demographics (high-income consumers). Useful comp for Fleming's positioning and pricing power.
• First Watch Restaurant Group: Daytime casual dining chain. While smaller and breakfast/lunch focused, it represents the shift away from traditional dinner-driven casual dining that pressures full-service operators like Bloomin' Brands.

Broad incumbents

• Restaurant Brands International: Multi-brand QSR/franchise operator (Burger King, Tim Hortons, Popeyes, Firehouse Subs). Comparable asset-light franchise model via Bloomin's international operations, though serves the QSR rather than casual dining segment.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/BloominBrands
• Facebookfacebook.com/flemings

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bloomin' Brands, Inc