Latest news with #DardenRestaurants
Yahoo
43 minutes ago
- Business
- Yahoo
Darden Restaurants Issues Upbeat Full-Year Same-Store Sales Outlook Following Quarterly Beat
Darden Restaurants (DRI) on Friday forecast same-store sales growth for the current fiscal year slig Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Business
- Yahoo
Darden Restaurants Stock Hits All-Time High on Strong Olive Garden Sales
Improved same-restaurant sales and more locations helped Darden Restaurants exceed profit forecasts. The operator of the Olive Garden, LongHorn Steakhouse, and other chains benefited from the acquisition of Chuy's Tex Mex restaurants last year. Darden also announced an up to $1.0 billion stock of Darden Restaurants (DRI) traded at an all-time high Friday as the restaurant chain operator beat earnings and revenue estimates and announced a new stock buyback as it got a boost from same-restaurant sales and growth in the number of locations. The owner of chains including Olive Garden, LongHorn Steakhouse, and Ruth's Chris Steak House posted fiscal 2025 fourth-quarter adjusted earnings per share (EPS) of $2.98, with revenue up 11% year-over-year to $3.27 billion. Both narrowly exceeded Visible Alpha forecasts. Same-store sales climbed 4.6%, led by a 6.9% rise at Olive Garden and 6.7% gain at LongHorn Steakhouse. All were above expecation. Darden added 25 net new restaurants in the quarter, plus it gained 103 Chuy's Tex Mex locations after its purchase of the chain last July. Revenue from Olive Garden increased more than 8% to $1.38 billion. It was 9% higher to $833.8 million at LongHorn Steakhouse, and grew more than 2% to $334.6 million at what it calls "Fine Dining" chains, which includes Ruth's Chris. Thanks to the Chuy's contribution, "Other Business" revenue jumped 22% to $722.3 million. Along with the financial report, Darden said the board authorized a new share repurchase program of up to $1.0 billion. Including a 2% rise to about $227 in recent trading Friday, Darden Restaurant shares have gained more than 20% so far this year. They hit a record $228.27 earlier in the session. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Business
- Yahoo
Darden Restaurants (DRI) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended May 2025, Darden Restaurants (DRI) reported revenue of $3.27 billion, up 10.6% over the same period last year. EPS came in at $2.98, compared to $2.65 in the year-ago quarter. The reported revenue represents a surprise of +0.18% over the Zacks Consensus Estimate of $3.27 billion. With the consensus EPS estimate being $2.96, the EPS surprise was +0.68%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Darden Restaurants performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Same-restaurant sales - LongHorn Steakhouse - YoY change: 6.7% versus the eight-analyst average estimate of 5.6%. Same-restaurant sales - Consolidated - YoY change: 4.6% versus the eight-analyst average estimate of 3.6%. Same-restaurant sales - Olive Garden - YoY change: 6.9% versus the eight-analyst average estimate of 4.5%. Company-owned restaurants - Total: 2,159 compared to the 2,181 average estimate based on eight analysts. Company-owned restaurants - Olive Garden: 935 compared to the 933 average estimate based on seven analysts. Company-owned restaurants - LongHorn Steakhouse: 591 versus 592 estimated by seven analysts on average. Same-restaurant sales - Fine Dining - YoY change: -3.3% versus the six-analyst average estimate of -0.1%. Same-restaurant sales - Other Business - YoY change: 1.2% versus the six-analyst average estimate of 1.4%. Sales- Olive Garden: $1.38 billion versus $1.35 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change. Sales- Other Business: $722.30 million versus the four-analyst average estimate of $728.95 million. The reported number represents a year-over-year change of +22.4%. Sales- Fine Dining: $334.60 million compared to the $359.93 million average estimate based on four analysts. The reported number represents a change of +2.3% year over year. Sales- LongHorn Steakhouse: $833.80 million versus the four-analyst average estimate of $830.09 million. The reported number represents a year-over-year change of +9.3%. View all Key Company Metrics for Darden Restaurants here>>>Shares of Darden Restaurants have returned +9.3% over the past month versus the Zacks S&P 500 composite's +0.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Darden Restaurants, Inc. (DRI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Bloomberg
2 hours ago
- Business
- Bloomberg
Darden Weighs Sale of Bahama Breeze Restaurant Chain
Darden Restaurants Inc. is considering 'strategic alternatives' for its Bahama Breeze chain, Chief Executive Officer Rick Cardenas said. Potential plans for the chain include selling the brand or converting the restaurants to other Darden brands, Cardenas said on an earnings call Friday.
CTV News
3 hours ago
- Business
- CTV News
Darden Restaurants lifts sales forecast, beats quarterly estimates on casual dining demand
Darden Restaurants forecast annual same-store sales above estimates after strong quarterly results on Friday, banking on demand driven by food delivery and advertising efforts at its casual dining chains such as Olive Garden. Shares of the company rose about three per cent in premarket trading after the company also announced a new US$1 billion share repurchase program. Casual dining and fast casual restaurant chains, including Olive Garden and Shake Shack, have benefited from menu innovations and promotions to entice customers, offsetting the impact of consumers turning to home-cooked meals to save money. Meanwhile, fast food chains including burger giant McDonald's, Starbucks and Domino's Pizza have been struggling with tepid demand. Darden expects annual same-store sales to grow in the range of two per cent to 3.5 per cent, midpoint of which is above analysts' estimates of 2.64 per cent, as per data compiled by LSEG. Initiatives such as home deliveries with the help of Uber Direct and 'buy one, take one' offerings at Olive Garden have further helped the restaurant chain operator. Its consolidated same-store sales were up 4.6 per cent in the quarter compared to a year ago, with Olive Garden sales rising 6.9 per cent. The company posted fourth-quarter sales of $3.27 billion, edging past estimates of $3.26 billion. It logged adjusted profit of $2.98 per share for the quarter ended May 25, above estimates of $2.97 per share, owing to moderate price hikes and lower input costs. However, the company forecast annual earnings per share between $10.50 and $10.70, compared with estimates of $10.75 per share. (Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Vijay Kishore)
