Positive Q3 Sales Momentum
Q3 sales comp was up 120 basis points, which was 130 basis points better than Q2. U.S. traffic was negative 10 basis points, 190 basis points better than Q2. All brands achieved positive comp sales growth this quarter for the first time since Q1 2023.
Outback Turnaround Strategy
Introduction of a comprehensive turnaround strategy for Outback Steakhouse, including a $75 million investment across 2026-2028, with a focus on steak quality, service, people, guest experience, and marketing.
Improved Brand Metrics
Outback's brand trust improved by 6 points year-over-year. Guest scores across food, service, value, and atmosphere have improved.
Strong Cash Flow and Balance Sheet
The company has strong cash flow, a healthy balance sheet, and ample liquidity to enable a turnaround. A second installment of the Brazil refranchising transaction is expected to bring approximately $122 million.