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Olive Garden owner Darden Restaurants disappoints on earnings but hikes sales outlook
CNBC· 2025-09-18 11:27
Core Insights - Darden Restaurants reported mixed quarterly results, with Olive Garden and LongHorn Steakhouse performing well, offsetting weaknesses in the fine-dining segment [1] - The company raised its full-year revenue growth forecast while maintaining its earnings projections, leading to a 6% drop in shares during premarket trading [1] Financial Performance - Darden's fiscal first-quarter net income was $257.8 million, or $2.19 per share, an increase from $207.2 million, or $1.74 per share, year-over-year [2] - Adjusted earnings per share, excluding certain gains and costs, were $1.97, slightly below the expected $2 [5] Sales and Growth Metrics - Net sales increased by 10.4% to $3.04 billion, driven by the acquisition of Chuy's Tex Mex restaurants [3] - Same-store sales rose by 4.7% in the quarter, not including Chuy's or Bahama Breeze locations, which are expected to be divested [3] Future Projections - For fiscal 2026, Darden projects revenue growth of 7.5% to 8.5%, an increase from the previous forecast of 7% to 8% [4] - The company reiterated its adjusted earnings forecast in the range of $10.50 to $10.70 per share [4]
Darden Restaurants Reports Fiscal 2026 First Quarter Results; Declares Quarterly Dividend; And Updates Fiscal 2026 Financial Outlook
Prnewswire· 2025-09-18 11:00
Core Insights - Darden Restaurants, Inc. reported strong financial results for the first quarter of fiscal 2026, with total sales increasing by 10.4% to $3.0 billion, driven by a same-restaurant sales increase of 4.7% and contributions from acquisitions [2][6][7]. Financial Performance - Consolidated sales for Q1 2026 were $3,044.7 million, compared to $2,757.0 million in Q1 2025, reflecting a growth of 10.4% [4]. - Same-restaurant sales growth was reported at 4.7%, with Olive Garden and LongHorn Steakhouse showing increases of 5.9% and 5.5%, respectively [2][4]. - Adjusted diluted net earnings per share from continuing operations increased by 12.6% to $1.97, up from $1.75 in the prior year [7][19]. Segment Performance - Olive Garden generated sales of $1,301.1 million in Q1 2026, with a segment profit of $267.6 million, compared to $1,209.1 million and $250.1 million in Q1 2025 [4]. - LongHorn Steakhouse reported sales of $776.4 million and a segment profit of $134.9 million, up from $713.5 million and $128.4 million, respectively [4]. - The Fine Dining segment experienced a slight decline in profit, with a segment profit of $38.7 million compared to $38.9 million in the previous year [4]. Shareholder Returns - The Board of Directors declared a quarterly cash dividend of $1.50 per share, payable on November 3, 2025 [5]. - During the quarter, the company repurchased approximately 0.9 million shares for a total of $183 million, with $865 million remaining under the current $1 billion repurchase authorization [8][7]. Future Outlook - The company updated its full-year financial outlook for fiscal 2026, projecting total sales growth of 7.5% to 8.5%, including approximately 2% growth related to the addition of a 53rd week [14]. - Same-restaurant sales growth is expected to be between 2.5% to 3.5%, with plans to open approximately 65 new restaurants [14].
Unlocking Q4 Potential of Darden Restaurants (DRI): Exploring Wall Street Estimates for Key Metrics
ZACKS· 2025-06-16 14:16
Core Viewpoint - Darden Restaurants (DRI) is expected to report quarterly earnings of $2.93 per share, a 10.6% increase year-over-year, with revenues projected at $3.26 billion, reflecting a 10.3% increase compared to the same period last year [1]. Earnings Estimates - The consensus EPS estimate has been revised 0.3% lower over the last 30 days, indicating a reevaluation of initial estimates by analysts [2]. - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock price performance [3]. Sales Projections - Analysts predict 'Sales- Olive Garden' will reach $1.35 billion, a 5.6% increase from the prior-year quarter [5]. - 'Sales- Other Business' is expected to be $733.06 million, indicating a 24.3% increase year-over-year [5]. - 'Sales- Fine Dining' is projected at $356.37 million, reflecting a 9% increase from the previous year [5]. - 'Sales- LongHorn Steakhouse' is forecasted to reach $823.83 million, an 8% year-over-year increase [6]. - The 'Same-restaurant sales - LongHorn Steakhouse - YoY change' is expected to be 5.4%, up from 4% in the same quarter last year [6]. Company-Owned Restaurants - The estimate for 'Company-owned restaurants - Total' is 2,183, compared to 2,031 a year ago [6]. - 'Company-owned restaurants - Olive Garden' is projected to reach 933, up from 920 last year [7]. - 'Company-owned restaurants - LongHorn Steakhouse' is estimated at 592, compared to 575 in the same quarter last year [7]. - 'Company-owned restaurants - Bahama Breeze' is expected to remain at 43, unchanged from the previous year [8]. - 'Company-owned restaurants - Seasons 52' is projected to reach 45, up from 44 last year [8]. - 'Company-owned restaurants - Eddie V's' is estimated at 31, compared to 30 a year ago [9]. - 'Company-owned restaurants - Yard House' is expected to reach 90, up from 88 last year [9]. Stock Performance - Over the past month, Darden Restaurants shares have recorded a return of +2.8%, outperforming the Zacks S&P 500 composite's +1.7% change [10].
Darden Restaurants to Host Fiscal 2025 Fourth Quarter Conference Call on June 20
Prnewswire· 2025-05-22 20:15
Group 1 - Darden Restaurants, Inc. plans to release its fiscal 2025 fourth quarter financial results on June 20, 2025, before the market opens [1] - A conference call will follow at 8:30 am ET, where CEO Rick Cardenas and senior management will discuss the results and conduct a Q&A session [1] - A replay of the conference call will be available shortly after the live broadcast for those unable to listen [1] Group 2 - Darden operates a diverse portfolio of restaurant brands, including Olive Garden, LongHorn Steakhouse, and Ruth's Chris Steak House, among others [2] - The company emphasizes its differentiated brands as a key aspect of its business strategy [2]