Darden Restaurants (DRI) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Darden Restaurants reported $2.96 billion in revenue for the quarter ended May 2024, a year-over-year increase of 6.8% [1] - The EPS for the same period was $2.65, compared to $2.58 a year ago, with an EPS surprise of +1.15% [1] Revenue and Earnings Performance - The reported revenue was a surprise of -0.88% compared to the Zacks Consensus Estimate of $2.98 billion [1] - The consensus EPS estimate was $2.62, leading to an EPS surprise of +1.15% [1] Same-Restaurant Sales Metrics - LongHorn Steakhouse had a year-over-year same-restaurant sales change of 4%, exceeding the estimated 2.3% [3] - Olive Garden experienced a year-over-year same-restaurant sales decline of -1.5%, worse than the estimated -0.1% [3] - Consolidated same-restaurant sales showed no change year-over-year, compared to an estimated increase of 0.3% [3] Company-Owned Restaurants - Total company-owned restaurants were reported at 2,031, below the estimated 2,048 [3] - Olive Garden locations were reported at 920, slightly below the estimated 923 [3] - LongHorn Steakhouse locations were reported at 575, compared to the estimated 578 [3] Sales Performance by Segment - Olive Garden sales were $1.28 billion, below the estimated $1.30 billion, representing a +0.7% year-over-year change [3] - Other Business sales were $590 million, slightly below the estimated $591.40 million, with a +2% year-over-year change [3] - Fine Dining sales were reported at $327.10 million, significantly below the estimated $352.78 million, but showing a +55.9% year-over-year change [3] - LongHorn Steakhouse sales were $762.70 million, exceeding the estimated $744.51 million, with a +7.2% year-over-year change [3] Stock Performance - Darden Restaurants' shares returned +2.2% over the past month, compared to the S&P 500 composite's +3.6% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [4]