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B BLOOMIN ' NEWS Mark Graff SVP , Financial Planning and Investor Relations BRANDS ( 813 ) 830-5311 Exhibit 99.1 Bloomin ' Brands Announces 2021 Q3 Financial Results and Strong Operating Margin Expansion Q3 Diluted EPS of $ 0.03 and Adjusted Diluted EPS of $ 0.57 Q3 Comparable Restaurant Sales Growth of 18.3 % at Outback Steakhouse and 25.5 % Combined U.S. Fourth Quarter - to - Date U.S. Comp Sales Trends Ahead of Industry TAMPA , Fla . , November 2 , 2021 - Bloomin ' Brands , Inc. ( Nasdaq : BLMN ) today reported results for the third quarter 2021 ( " Q3 2021 " ) compared to the third quarter 2020 ( “ Q3 2020 " ) . CEO Comments “ Q3 represented another quarter of strong results with significant sales , margin and earnings growth , ” said David Deno , Chief Executive Officer . “ This performance is a result of the great work by our employees in the restaurants and the restaurant support center . Recently , we have seen inflationary pressures in our business and have levers available to combat these headwinds and achieve our margin targets . We remain confident in our strategy and are well positioned to deliver our long - term goals of growing healthy sales , optimizing margins , and increasing cash flow . " 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 : Q3 2021 2020 CHANGE Diluted earnings ( loss ) per share attributable to common stockholders Adjustments ( 2 ) $ 0.03 $ 0.54 ( 0.20 ) $ 0.08 Q3 2019 ( 1 ) 0.23 $ 0.46 0.11 ( 0.01 ) Adjusted diluted earnings ( loss ) per share ( 2 ) $ 0.57 $ ( 0.12 ) $ 0.69 $ 0.10 ( 1 ) Presented for improved comparability . ( 2 ) Includes a $ 61.9 million payment made to the founders of our Carrabba's Italian Grill concept in the third quarter of 2021 in connection with an agreement to terminate future royalty payments . See Non - GAAP Measures later in this release . Third 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 ) Presented for improved comparability . ( 2 ) See Non - GAAP Measures later in this release . 1 Q3 2021 $ 1,010.5 $ Q3 2020 771.3 CHANGE Q3 2019 ( 1 ) 31.0 % $ 967.1 10.3 % 10.7 % ( 0.4 ) % 12.9 % 16.8 % 10.7 % 6.1 % 12.5 % 1.5 % ( 1.8 ) % 3.3 % 2.3 % 8.2 % ( 1.3 ) % 9.5 % 2.3 %