Darden Restaurants, Inc. (DRI) reported mixed fourth-quarter fiscal 2024 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The metrics increased on a year-over-year basis. Following results, the stock inched up 1.3% in the pre-market trading session. Sales by Segments Sales in Fine Dining increased 55.9% year over year to $327.1 million. Our estimate for the metric was $376.6 million. Comps in the segment dropped 2.6% year over year compared with a 2.3% fall reported ...

Core Viewpoint - Darden Restaurants reported quarterly earnings that slightly exceeded expectations, but revenue fell short of consensus estimates, indicating mixed performance in the current fiscal environment [1][2][7]. Financial Performance - Darden Restaurants posted revenues of $2.96 billion for the quarter ended May 2024, missing the Zacks Consensus Estimate by 0.88%, compared to $2.77 billion in the same quarter last year [2]. - The company reported earnings of $2.65 per share, beating the Zacks Consensus Estimate of $2.62 per share, and showing an increase from $2.58 per share a year ago [7]. - The current consensus EPS estimate for the upcoming quarter is $1.88 on revenues of $2.84 billion, and for the current fiscal year, it is $9.52 on revenues of $11.95 billion [5]. Stock Performance - Darden Restaurants shares have declined approximately 7.5% since the beginning of the year, while the S&P 500 has gained 15% [3]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the market in the near future [10]. Earnings Outlook - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call [9]. - Over the last four quarters, the company has surpassed consensus EPS estimates three times, indicating a generally positive trend in earnings performance [8]. Industry Context - The Retail - Restaurants industry, to which Darden Restaurants belongs, is currently ranked in the bottom 39% of over 250 Zacks industries, suggesting potential challenges ahead [14].

For fiscal 2025, Darden is forecasting that its same-store sales will grow just 1% to 2%. Here's what the company reported compared with what Wall Street was expecting for the quarter ended May 26, based on a survey of analysts by LSEG: Darden reported fiscal fourth-quarter net income of $308.1 million, or $2.57 per share, down from $315.1 million, or $2.58 per share, a year earlier. Net sales rose 6.8% to $2.96 billion, fueled by its acquisition of Ruth's Chris Steak House and 37 other net new locations. D ...

Exhibit 99.1 Darden Restaurants Reports Fiscal 2024 Fourth Quarter and Full Year Results; Increases Quarterly Dividend; And Provides Fiscal 2025 Outlook ORLANDO, Fla., June 20, 2024 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the fourth quarter and fiscal year ended May 26, 2024. Fourth Quarter 2024 Financial Highlights | Consolidated Darden* | 0.0% | | --- | --- | | Olive Garden | (1.5)% | | LongHorn Steakhouse | 4.0% | | Fine Dining* | (2.6)% | | Other Busi ...

Fourth Quarter 2024 Financial Highlights | --- | --- | |-----------------------------------|-------------------| | | | | Consolidated Darden* Olive Garden | 0.0 % (1.5) % | | LongHorn Steakhouse | 4.0 % | | Fine Dining* | (2.6) % | | Other Business | (1.1) % | Fiscal 2024 Financial Highlights | --- | --- | |----------------------|-----------| | | | | Consolidated Darden* | 1.6 % | | Olive Garden | 1.6 % | | LongHorn Steakhouse | 4.7 % | | Fine Dining* | (2.4) % | | Other Business | (0.7) % | * Will not incl ...

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Loading... Darden Restaurants, Inc. DRI will release earnings results for its fiscal 2024 fourth quarter, before the opening bell on Thursday. On March 21, Darden Restaurants reported mixed results for its third quarter. Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables. Raymond James analyst Brian Vaccaro reiterated an Outperform rating and cut the price target from $175 to ...

Darden Restaurants, Inc. (DRI) is scheduled to report fourth-quarter fiscal 2024 results on June 20, before the opening bell. In the last reported quarter, DRI earnings missed the Zacks Consensus Estimate by 0.4%. Factors to Note DRI's fiscal fourth-quarter results are likely to reflect robust performances of Fine Dining and LongHorn Steakhouse. Our model predicts sales at LongHorn Steakhouse, Fine Dining and Other revenues to increase 0.2%, 79.5% and 5.7% from the year-earlier levels to $713.2 million, $37 ...

Finding the best food stocks to buy to grow your portfolio is challenging as an investor. Food stocks present attractive prospects as they provide steady returns even in volatile markets due to their "defensive" nature. June might just be an ideal month to buy food stocks with high-quality prospects. For a balanced portfolio, we've identified the top three food stocks to buy in June 2024 that are poised to outperform. And here's why: Source: Tatjana Baibakova / Shutterstock The company recently endorsed a s ...

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