Darden Restaurants Inc

DRI

Equity

ISIN US2371941053 / Valor 368516

New York Stock Exchange, Inc (2024-12-24)

USD 186.65+1.01%

Darden Restaurants Inc
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Darden Restaurants Inc. is an American multi-brand restaurant operator owning several casual dining restaurant chains, including Olive Garden, LongHorn Steakhouse, and Cheddar's Scratch Kitchen.

Summarized from source with an LLMView SourceSector: Consumer Services

Total Sales Growth

Darden Restaurants Inc. reported a total sales increase of 1.0% for the first quarter of fiscal 2025, reaching $2.8 billion. This growth was primarily driven by the addition of 42 net new restaurants, although it was partially offset by a blended same-restaurant sales decrease of 1.1%.

Segment Performance

In the first quarter of fiscal 2025, Darden Restaurants Inc. saw varied performance across its segments. Olive Garden experienced a same-restaurant sales decline of 2.9%, while LongHorn Steakhouse reported a 3.7% increase. The Fine Dining segment saw a decrease of 6.0%, and the Other Business segment declined by 1.8%.

Earnings Per Share

Darden Restaurants Inc. reported diluted net earnings per share from continuing operations of $1.74 for the first quarter of fiscal 2025. Excluding $0.01 related to Chuy's transaction and integration costs, the adjusted diluted net earnings per share were $1.75, marking a decrease of 1.7% compared to the same quarter last year.

Dividend Declaration

The Board of Directors of Darden Restaurants Inc. declared a quarterly cash dividend of $1.40 per share on the company's outstanding common stock. This dividend is scheduled to be paid on November 1, 2024, to shareholders of record as of October 10, 2024.

Financial Outlook

Darden Restaurants Inc. reiterated its full-year financial outlook for fiscal 2025, projecting diluted net earnings per share from continuing operations to be between $9.40 and $9.60. This outlook does not account for any impact from Chuy's operations or related transaction costs associated with the pending acquisition.

Summarized from source with an LLMView Source

Key figures

15.3%1Y

25.4%3Y

72.1%5Y

Performance

23.1%1Y

26.2%3Y

44.4%5Y

Volatility