Outback Steakhouse Parent Bloomin Brands Q1 Earnings: Margin Contraction, High Debt, Weak Q2 Outlook

Bloomin’ Brands, Inc. (NASDAQ:BLMN) reported first quarter adjusted earnings per share of 59 cents on Wednesday, beating the analyst consensus estimate of 56 cents. Quarterly sales of $1.05 billion (down 1.8% year over year) outpaced the street view of $1.03 billion. The decrease in total revenues…