Darden Restaurants, Inc. (DRI) is scheduled to report third-quarter fiscal 2024 results on Mar 21, before the opening bell. In the last reported quarter, DRI delivered an earnings surprise of 7.6%.Q3 EstimatesThe Zacks Consensus Estimate for earnings is pegged at $2.64 per share, indicating growth of 12.8% from the prior-year levels. The consensus estimate for revenues is pegged at $3.04 billion, implying an increase of 9% from the year-ago figure.Factors to NoteDarden is anticipated to have achieved strong ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Darden Restaurants (DRI) reports results for the quarter ended February 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 earnings report, which is expected to be released on March 21, 2024, might help the stock move higher if these key numbers are better t ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 26, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 1-13666 Commission File Number DARDEN RESTAURANTS, INC. (Exact name of registrant as specified in its charter) Florida 59-3305930 (State or other ...

Financial Data and Key Metrics Changes - The company generated $2.7 billion in total sales for the second quarter, a 9.7% increase compared to the previous year, driven by the addition of 78 company-owned Ruth's Chris Steak House restaurants and 45 legacy Darden new restaurants, along with same-restaurant sales growth of 2.8% [10] - Adjusted diluted net earnings per share from continuing operations increased by 21% to $1.84, with adjusted EBITDA reaching $403 million [39] - Restaurant level EBITDA improved to 18.8%, which is 230 basis points higher than last year [12] Business Line Data and Key Metrics Changes - Olive Garden's total sales increased by 6.3%, with same-restaurant sales growth of 4.1%, outperforming the industry benchmark by 540 basis points [13] - LongHorn's total sales rose by 7.1%, driven by same-restaurant sales growth of 4.9%, outperforming the industry by 620 basis points [42] - The Fine Dining segment saw total sales increase due to the addition of Ruth's Chris, but same-restaurant sales at The Capital Grille and Eddie V's were negative, reflecting challenges in the Fine Dining category [14] Market Data and Key Metrics Changes - Same-restaurant sales for the industry decreased by 1.3%, while guest counts fell by 4.8% [32] - The company's same-restaurant sales outpaced the industry by 410 basis points, with guest counts exceeding the industry by 370 basis points [10][89] Company Strategy and Development Direction - The company continues to adhere to its strategy focused on significant scale, extensive data and insights, rigorous strategic planning, and a results-oriented culture [5] - The company plans to open approximately 50 to 55 new restaurants and has updated its fiscal 2024 sales guidance to approximately $11.5 billion [15] - The company is committed to managing costs effectively while pursuing profitable sales growth, emphasizing a back-to-basics operating philosophy [5][138] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the business model and the performance of the teams, despite a slightly weakened consumer backdrop [18] - The company anticipates pricing to be significantly below inflation in the fourth quarter, with expectations for a consistent EPS growth rate in the third quarter [44][52] - Management noted that the consumer remains resilient but more selective, with a shift in dining frequency among older demographics [76] Other Important Information - The company reported strong internal guest satisfaction metrics across all brands, with Olive Garden and LongHorn achieving all-time highs [34] - The company is transitioning to a new distribution system to capture supply chain synergies, with plans to complete the transition by March [36] - The company has launched a scholarship program for team members' dependents, reflecting its commitment to employee welfare [37] Q&A Session Summary Question: Thoughts on promotions for the balance of the year given the consumer backdrop - Management stated that current plans for promotions remain unchanged and they are pleased with brand performance [18] Question: Commentary on sales outlook and changes in comp and revenue outlooks - Management noted that while there is some check softness, it is offset by lower inflation, leading to a more conservative sales outlook [20] Question: Insights on pricing at a brand level - Management indicated that Olive Garden has not taken any pricing this fiscal year and does not expect to do so in the near term [23] Question: Performance of the other segment and implications for low-income consumers - Management expressed satisfaction with the overall performance of the other segment, despite negative same-restaurant sales [54] Question: Update on delivery strategy and third-party delivery - Management reaffirmed their decision to stay out of third-party delivery, citing no significant performance difference compared to restaurants without it [71] Question: Trends in Fine Dining and expectations for positive comps - Management noted improvements in Fine Dining sales, particularly in November, and expressed optimism for the holiday season [78] Question: Update on construction costs and willingness to build more units - Management reported that construction costs are in line with expectations and noted an increase in bids that align with project budgets [124]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 27, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 1-13666 Commission File Number DARDEN RESTAURANTS, INC. (Exact name of registrant as specified in its charter) Florida 59-3305930 (State or other j ...

Darden Restaurants, Inc. (NYSE:DRI) Q1 2024 Earnings Conference Call September 21, 2023 8:30 AM ET Company Participants Kevin Kalicak - IR Rick Cardenas - President & CEO Raj Vennam - CFO Conference Call Participants Andrew Charles - TD Cowen Brian Bittner - Oppenheimer Eric Gonzalez - KeyBanc Capital Markets Brian Harbour - Morgan Stanley David Tarantino - Baird David Palmer - Evercore Jeffrey Bernstein - Barclays Joshua Long - Stephens Dennis Geiger - UBS Danilo Gargiulo - Bernstein Jeffrey Farmer - Gordo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13666 DARDEN RESTAURANTS, INC. (Exact name of Registrant as specified in its charter) Florida 59-3305930 (IRS Employer Identification No.) (S ...

Disclaimer/Non-GAAP Information The following slides are part of a presentation by Darden Restaurants, Inc. (the "Company") and are intended to be viewed as part of that presentation (the "Presentation"). No representation is made that the Presentation is a complete description of the Company's performance, financial condition or outlook. Fiscal 2023 Financial Highlights Consistently Delivering Strong Returns, Outpacing S&P 500 Ten Year Rolling Total Shareholder Return (TSR) STEAKHOUSE L O N G H O R N Earni ...

Darden Restaurants, Inc. (NYSE:DRI) Q4 2023 Earnings Conference Call June 22, 2023 8:30 AM ET Company Participants Kevin Kalicak - IR Rick Cardenas - President & CEO Raj Vennam - CFO Conference Call Participants Jon Tower - Citi Chris O'Cull - Stifel Eric Gonzalez - KeyBanc Capital Markets Brian Bittner - Oppenheimer David Palmer - Evercore Andrew Charles - TD Cowen Chris Carril - RBC Capital Markets David Tarantino - Baird Jeffrey Bernstein - Barclays Sara Senatore - Bank of America Jeff Farmer - Gordon Ha ...