ORLANDO, Fla., Sept. 19, 2024 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) today reported its financial results for the first quarter ended August 25, 2024. First Quarter 2025 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year | --- | --- | |----------------------|-----------| | | | | Consolidated Darden* | (1.1) % | | Olive Garden | (2.9) % | | LongHorn Steakhouse | 3.7 % | | Fine Dining* | (6.0) % | | Other Business | (1.8) % | | --- | --- | --- | --- | --- | --- | --- | --- | ...

Darden Restaurants, Inc. (DRI) is scheduled to report first-quarter fiscal 2025 results on Sept. 19, before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 1.15%. How Are Estimates Placed? The Zacks Consensus Estimate for the fiscal first-quarter earnings per share (EPS) is pegged at $1.82, indicating growth of 2.3% from $1.78 reported in the year-ago quarter. For revenues, the consensus mark is pegged at $2.8 billion, suggesting a 2.5% increase from the year-ag ...

Sundry Photography/iStock Editorial via Getty Images I've already talked a lot about the Longhorn When we think of Darden Restaurants, Inc. (NYSE:DRI), Olive Garden is the logical thing that comes to mind. In addition to being Darden's largest brand, it is one of the largest full-service restaurant brands in the United States, with approximately 920 locations spread across nearly every state and territory in the country. In Texas alone, the company has around 111 locations, with 12 locations in Houston alon ...

The upcoming report from Darden Restaurants (DRI) is expected to reveal quarterly earnings of $1.83 per share, indicating an increase of 2.8% compared to the year-ago period. Analysts forecast revenues of $2.8 billion, representing an increase of 2.6% year over year. The consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe. P ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Darden Restaurants (DRI) reports results for the quarter ended August 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Septe ...

Core Viewpoint - Darden Restaurants, Inc. is set to release its fiscal 2025 first quarter financial results on September 19, 2024, with a conference call scheduled for 8:30 am ET to discuss the results and answer questions [1][2]. Company Information - Darden Restaurants operates a diverse portfolio of restaurant brands, including Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steak House, Cheddar's Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V's, and Bahama Breeze [2]. - For further details, the company can be accessed through its website at www.darden.com [2]. Conference Call Details - The earnings conference call will take place live over the internet, and participants can join by visiting the provided link or by dialing 877-407-9219 for telephone access [2]. - A replay of the conference call will be available shortly after the live broadcast for those unable to attend [1]. Contact Information - Analysts can reach Courtney Aquilla at (407) 245-5054 for inquiries [3]. - Media inquiries can be directed to Rich Jeffers at (407) 245-4189 [3].

Group 1: Company Performance - Darden Restaurants (DRI) shares increased by 3.7% to close at $155.15, with notable trading volume compared to typical sessions, and a 4.2% gain over the past four weeks [1] - The company is expected to report quarterly earnings of $1.84 per share, reflecting a year-over-year increase of 3.4%, with revenues projected at $2.81 billion, up 3% from the previous year [3] - The consensus EPS estimate for Darden has been revised marginally higher over the last 30 days, indicating a positive trend that may lead to price appreciation [4] Group 2: Promotional Strategy - The stock rally is attributed to optimism regarding the early return of the Never Ending Pasta (NEP) promotion, set to launch on August 26, which will last for 12 weeks in fiscal Q2 2025, compared to eight weeks in fiscal Q2 2024 [2] - This promotional strategy aims to enhance Darden's competitiveness in a heavily promotional market while focusing on profitable growth [2] Group 3: Industry Context - Darden Restaurants is part of the Zacks Retail - Restaurants industry, where another competitor, Domino's Pizza (DPZ), experienced a 1.3% decline in its last trading session [4] - Domino's Pizza's consensus EPS estimate has decreased by 0.3% over the past month to $3.64, representing a 12.9% decline from the previous year [5]

Oat_Phawat/iStock via Getty Images Contextualization We are seeing a red sea of blood. Talking about this again is like beating a dead horse, just look at the market in the last few days. In addition to overstretched valuations and, specifically in relation to the industry I cover, slow traffic, historically high operating costs, and price wars are amplifying a correction in the market that has some deeper roots. The first and most obvious was the latest jobs report that triggered the much-cited 'Sahm Rule' ...

Financial Performance - Olive Garden's average check per person during fiscal 2024 was approximately $23.00, with alcoholic beverages accounting for 5.0% of sales[22]. - LongHorn Steakhouse's average check per person during fiscal 2024 was approximately $27.50, with alcoholic beverages accounting for 8.6% of sales[24]. - Cheddar's Scratch Kitchen's average check per person during fiscal 2024 was approximately $18.50, with alcoholic beverages accounting for 7.6% of sales[26]. - Yard House's average check per person during fiscal 2024 was approximately $35.00, with alcoholic beverages accounting for 31.3% of sales[28]. - Ruth's Chris's average check per person during fiscal 2024 was approximately $101.00, with alcoholic beverages accounting for 19.9% of sales[30]. - The Capital Grille's average check per person during fiscal 2024 was approximately $101.50, with alcoholic beverages accounting for 26.2% of sales[32]. - Seasons 52's average check per person during fiscal 2024 was approximately $51.00, with alcoholic beverages accounting for 22.7% of sales[34]. - Bahama Breeze's average check per person during fiscal 2024 was approximately $33.50, with alcoholic beverages accounting for 21.0% of sales[36]. - Eddie V's average check per person during fiscal 2024 was approximately $120.50, with alcoholic beverages accounting for 28.1% of sales[38]. - The total sales from continuing operations for fiscal 2024 reached $11,390.0 million, reflecting growth from previous years[42]. - During fiscal 2024, 11.0% of total sales were attributed to alcoholic beverages, highlighting the importance of compliance with licensing regulations[90]. Restaurant Operations - The company plans to continue expanding its restaurant brands, but the actual number of openings for fiscal 2025 will depend on various factors such as recruitment and site selection[47]. - The average time to construct and open a new restaurant is approximately 250 days after site acquisition and permits are obtained[48]. - The company operates 2,031 restaurants in the United States and Canada, with 85 franchised restaurants in the U.S. and 61 internationally as of May 26, 2024[83][84]. Workforce and Team Members - The total number of team members (hourly and salaried) is 191,105, with 180,207 being hourly team members; 58% of hourly team members are female and 56% belong to racial or ethnic minority groups[67]. - In fiscal 2024, 65% of participants in the restaurant Manager In Training program were internal promotions, and 100% of new General Managers or Managing Partners were also internal promotions[68]. - The average hourly wage for team members across all brands in fiscal 2024 exceeded $23 per hour, significantly above the minimum wage of $12 per hour[70]. - Darden's consolidated turnover rate for hourly team members during fiscal 2024 was 80%, which is one of the lowest rates in the restaurant industry[75]. Technology and Innovation - The company is focused on implementing new technology platforms to enhance digital engagement with guests and improve marketing and analytics capabilities[64]. - The company has invested in technology-enabled business solutions to enhance operational efficiencies and guest service across its restaurant brands[76]. - The company utilizes a strategic information systems planning process to prioritize projects based on various business advantage criteria[79]. - The company has implemented a robust cybersecurity framework, conducting regular audits and training for team members to protect sensitive data[78][79]. - The company maintains a disaster recovery plan to guard against business interruptions, including off-site data storage and annual testing[76]. Sustainability and Community Engagement - The company reported a total of 818,117 metric tons CO2e in greenhouse gas emissions for fiscal year ended May 26, 2024, with an average of 400 metric tons CO2e per restaurant[102]. - The company focuses on sustainability metrics, including energy and water conservation, and has accelerated the reporting cycle for environmental metrics to align with financial results[101]. - The company has established an Animal Welfare Policy and an Animal Welfare Council to ensure high standards of care for farm animals in its supply chain[104]. - The Darden Foundation awarded approximately $4.3 million in grants during fiscal 2024 to support community service initiatives[107]. - In fiscal 2024, the Foundation awarded a $2.0 million grant to fund 10 additional refrigerated box trucks for Feeding America, bringing total contributions to $18.3 million since 2010[108]. - Darden contributed approximately 5.4 million pounds of food in fiscal 2024, equivalent to over 4.5 million meals provided to communities in need[109]. - The Foundation donated an additional $500,000 to Boys & Girls Clubs of America in fiscal 2024 to support diversity and anti-discrimination programming[110]. - A contribution of $250,000 was made to support the National Restaurant Association Educational Foundation's ProStart program in fiscal 2024[111]. - The Foundation provided $500,000 to the American Red Cross in fiscal 2024 as part of its Annual Disaster Giving Program[112]. - In fiscal 2024, 102 children or dependents of Darden team members received scholarships worth $3,000 each through the Next Course Scholarship program[113]. Financial Risks - The company is exposed to potential losses of approximately $60.3 million in future net earnings from changes in equity forwards and commodity instruments over one year[265]. - The fair value of long-term fixed-rate debt averaged $1.37 billion as of May 26, 2024, with a potential value at risk of approximately $105.5 million from interest rate changes over one year[265].

Chuy's owns and operates full-service restaurants, serving a distinct menu of made-from-scratch Tex-Mexinspired dishes. This new dining category induces optimism in Darden as it believes this will diversify its offerings portfolio and help reach out to new customers in the market. Darden is expected to acquire Chuy's in an all-cash transaction with a total transaction enterprise value of approximately $605 million, upon the unanimous approval from the board of directors of both the companies. Darden expects ...