High Beef Prices Weigh on Bloomin's Bottom Line -- Market Talk

Dow Jones05-06

0919 ET - Bloomin' Brands CFO Eric Christel says the restaurant operator's margins were pressured in the latest quarter by continued commodities inflation and higher labor costs. A shortage of cattle on U.S. pastures is driving up livestock prices, making high prices the new normal in the beef market. Beef is a key ingredient at Bloomin's Outback Steakhouse banner, and those higher prices contributed to overall commodities inflation rising 4.6% during the company's recent quarter. The higher costs were offset by other lower restaurant operating expenses, Christel says, such as lower advertising spend and an improvement in productivity initiatives. Bloomin' Brands surges 24% premarket after posting higher profit, revenue and comparable-restaurant sales. (connor.hart@wsj.com)

(END) Dow Jones Newswires

May 06, 2026 09:19 ET (13:19 GMT)

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