Darden Restaurants, Inc.
182.41+1.08 (+0.6%)
Oct 29, 4:00:02 PM EDT · NYSE · DRI · USD
Key Stats
Market Cap
21.22BP/E (TTM)
19.57Basic EPS (TTM)
9.32Dividend Yield
0.03%Recent Filings
10-Q
Q1 FY2026 results
Darden Restaurants posted solid Q1 FY2026 results, with sales climbing 10.4% year-over-year to $3.0B, fueled by the Chuy's acquisition and 4.7% blended same-restaurant sales growth, while operating income rose 26.0% to $339.2M on a 120 basis point margin expansion to 11.1%. Diluted EPS from continuing operations hit $2.19, up 25.9% from $1.74, reconciling cleanly to 117.6 million diluted shares with no anti-dilution flagged. Key drivers included Olive Garden's 5.9% same-restaurant sales surge and LongHorn's 5.5% gain, though Fine Dining dipped 0.2%; the $42.0M gain from selling eight Olive Garden Canada spots boosted the bottom line. Cash from operations reached $342.5M, funding $174.1M in capex and $182.7M in buybacks, with free cash flow at $168.4M (derived) and $211.0M in cash against $2.3B total debt, including a $1.25B revolver fully available sans covenants breached. Chuy's integration added $3.6M in costs but promises synergies. Yet competition in full-service dining keeps pressure on traffic.
8-K
Darden Q1 sales up 10.4%
Darden Restaurants kicked off fiscal 2026 with total sales surging 10.4% to $3.0 billion, fueled by 4.7% blended same-restaurant growth and the Chuy's acquisition, while adjusted diluted EPS climbed 12.6% to $1.97. Olive Garden and LongHorn Steakhouse led with 5.9% and 5.5% comps, respectively, but Fine Dining dipped 0.2%. The board declared a $1.50 quarterly dividend. Darden updated its full-year outlook to 7.5%-8.5% sales growth and $10.50-$10.70 adjusted EPS. Strong execution boosts market share, yet integration risks loom.
10-K
FY2025 results
Darden Restaurants delivered solid FY2025 results, with total sales climbing 6.0% y/y to $12.08B, fueled by a 2.0% blended same-restaurant sales gain and the addition of 103 net Chuy's locations alongside 25 other new units. Olive Garden and LongHorn Steakhouse led the charge, posting 2.9% and 7.8% sales growth respectively, while Q4 momentum showed sequential margin expansion in core brands despite softer Fine Dining traffic. The Chuy's acquisition, closed October 2024 for $649M in cash, drove Other Business sales up 13.8% but weighed on integration costs; Q4 impairments hit $49M from 22 closures, yet operating income rose 3.7% to $1.36B. Liquidity remains robust with $1.71B in operating cash flow, funding $645M capex, $659M dividends, and $418M buybacks, while $2.13B debt reflects recent notes issuance. Fiscal 2026 guidance eyes 7-8% sales growth, including a 53rd week and 60-65 openings, with capex at $700-750M. Yet, labor shortages could crimp quarterly momentum.
8-K
Darden's strong FY25 results, dividend boost
Darden Restaurants reported fiscal 2025 results with total sales up 6.0% to $12.1 billion, driven by 2.0% blended same-restaurant sales growth and contributions from the Chuy's acquisition plus 25 net new units; adjusted diluted EPS rose 7.5% to $9.55 despite Fine Dining weakness. The board hiked the quarterly dividend 7.1% to $1.50 per share and authorized a fresh $1 billion share repurchase program. Leadership shifts at Olive Garden: President Dan Kiernan retires August 31, 2025, succeeded by John Wilkerson from September 1. Fiscal 2026 outlook projects 7-8% sales growth and $10.50-$10.70 EPS, including a 53rd week. Chuy's integration poses execution risks.
10-Q
Q3 FY2025 results
Darden Restaurants posted solid Q3 FY2025 results, with sales climbing 6.2% year-over-year to $3.16B, fueled by the October 2024 Chuy's acquisition and a blended same-restaurant sales uptick of 0.7%, though weather and holiday shifts trimmed gains. Operating income rose 8.0% to $418.2M, lifting margins to 13.2% amid pricing leverage and cost controls that eased food and beverage expenses to 30.2%. Diluted EPS from continuing operations hit $2.74, up 5.4%, reconciling cleanly with 118.0M shares and no anti-dilution flags. The Chuy's deal closed for $613.7M net cash, adding $262.4M goodwill and a $198.4M indefinite-lived trademark, financed via $750M in new senior notes due 2027-2029 at 4.35-4.55%. Cash swelled to $224.2M, free cash flow (derived) at $777.4M after $472.6M capex, while long-term debt stands at $2.12B with $1.19B revolver availability and a 3.50:1 leverage covenant. Acquisitions expand the portfolio smartly. Yet competition squeezes guest traffic across segments.
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