Page 1

B NEWS Mark Graff BLOOMIN ' Senior Vice President , IR & Finance BRANDS ( 813 ) 830-5311 Exhibit 99.1 Bloomin ' Brands Announces 2021 Q2 Financial Results and Strong Operating Margin Expansion Q2 Diluted EPS of $ 0.75 and Adjusted Diluted EPS of $ 0.81 Q2 Comparable Restaurant Sales Growth of 65.8 % at Outback Steakhouse and 84.6 % Combined U.S. Strengthening Third Quarter - to - Date U.S. Comp Sales Trends on a 2 - Year Basis TAMPA , Fla . , July 30 , 2021 - Bloomin ' Brands , Inc. ( Nasdaq : BLMN ) today reported results for the second quarter 2021 ( " Q2 2021 " ) compared to the second quarter 2020 ( " Q2 2020 " ) . CEO Comments " Q2 represented another quarter of strong results . We are well positioned to grow sales and capture additional market share , ” said David Deno , Chief Executive Officer . “ We are making great progress improving margins , increasing cash flow and retaining off - premises sales as dining rooms have reopened . Our sales momentum has continued through the first four weeks of the third quarter with U.S. comp sales up 15.2 % on a two - year basis versus 2019. " Diluted EPS and Adjusted Diluted EPS The following table reconciles Diluted earnings ( loss ) per share attributable to common stockholders to Adjusted diluted earnings ( loss ) per share for the periods indicated : Q2 2021 2020 Diluted earnings ( loss ) per share attributable to common stockholders Adjustments ( 2 ) $ 0.75 $ 0.06 Adjusted diluted earnings ( loss ) per share ( 2 ) $ 0.81 $ ( 1.05 ) $ 0.31 ( 0.74 ) $ CHANGE Q2 2019 ( 1 ) 1.80 $ 0.32 ( 0.25 ) 0.04 1.55 $ 0.36 ( 1 ) Presented for improved comparability . ( 2 ) See Non - GAAP Measures later in this release . Second Quarter Financial Results ( dollars in millions ) Total revenues Restaurant - level operating margin Adjusted restaurant - level operating margin ( 2 ) GAAP operating income ( loss ) margin Adjusted operating income ( loss ) margin ( 2 ) ( 1 ) ( 2 ) Presented for improved comparability . See Non - GAAP Measures later in this release . 1 Q2 2021 $ 1,077.4 $ Q2 2020 578.5 CHANGE 86.2 % $ Q2 2019 ( 1 ) 1,021.9 20.3 % 2.1 % 18.2 % 15.0 % 20.3 % 2.7 % 17.6 % 15.0 % 11.6 % ( 19.3 ) % 30.9 % 4.3 % 11.0 % ( 13.7 ) % 24.7 % 4.6 %