Darden Restaurants Inc
- Darden Restaurants declined 5.9% to $164.32 after the owner of Olive Garden and other chains reported weaker-than-expected revenue and earnings in its latest quarter.
Revenue in the fiscal third quarter increased 6.8% to $2.97 billion from $2.79 billion, net income rose to $312.9 million from $286.6 million, and diluted earnings per share advanced to $2.60 from $2.34 a year ago.
The total sales increase was driven by sales from the addition of 79 company-owned Ruth's Chris Steak House restaurants and 53 other net new restaurants, partially offset by a blended same-restaurant sales decrease of 1.0%.
The company estimated full-year revenue of $11.4 billion and diluted earnings per share between $8.80 and $8.90.
The company's board of directors declared a quarterly cash dividend of $1.31 per share payable on May 1 to shareholders on record on April 10.
The retail chain in the quarter repurchased 0.2 million shares for $33 million, and the company's board authorized a new share repurchase plan of $1 billion.
Mar 21, 2024 - Darden Restaurants, Inc fell 1.5% to $147.72 after the company said same store sales at its comparable fine dining locations declined 2.8% in the fiscal first quarter ending on August 27.
Consolidated comparable sales increased 5% driven by rise of 6.0% at Olive Garden stores and 8.1% jump at Long Horn Steak House locations.
Revenue in the quarter increased to $2.7 billion from $2.4 billion and net income rose to $194.5 million from $193 million and diluted earnings per share rose to $1.59 from $1.56 a year ago.
The company declared a dividend of $1.31 a share payable on November to shareholders on record on October 10.
During the quarter, the company repurchased 0.9 million shares for a total of $143 million, and at the end of the quarter $509 million were still available in its $1 billion stock repurchase program.
Sep 21, 2023 - Darden Restaurants, Inc declined 3.8% to $160.0 after the parent of Olive Garden and Longhorn Steakhouse reported better-than-expected quarterly results but forecasted mixed annual outlook.
Revenue in the fiscal fourth quarter ending in May increased 6.4% to $2.8 billion, driven by same-store sales increase of 4.0% and sales from 47 net new restaurants.
Same store sales at Olive Garden restaurants increased 4.0% and Longhorn Steakhouse surged 7.1%.
Net income in the quarter increased to $315.1 million from 281.7 million and diluted earnings per share advanced to $2.58 from $2.44 a year ago.
Total sales in the fiscal year 2023 increased to $10.5 billion from $9.6 billion and net income soared to $981.9 million from $952.8 million and diluted earnings per share increased to $7.99 from $7.39 a year ago.
The company increased its quarterly dividend by 8% to $1.31 a share payable on August 1 to shareholders on record on July 10.
During the quarter, Darden repurchased 0.2 million shares for a total of $35.2 million and at the end of the quarter the company had $652 million available under its $1.0 billion stock repurchase program.
Jun 22, 2023
| Year | Aug | Nov | Feb | May | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 2.34 | 2.57 | 1.59 | 1.76 | - | |
| 2022 | 1.93 | 2.23 | 1.56 | 1.52 | 7.99 | |
| 2021 | 0.98 | 2.78 | 1.75 | 1.48 | 7.39 | |
| 2020 | 1.89 | -3.89 | 0.28 | 0.73 | 4.77 | |
| 2019 | 1.79 | 1.66 | 1.37 | 0.2 | -0.43 | |
| 2018 | 1.73 | 1.4 | 1.32 | 0.92 | 5.69 | |
| 2017 | 1.32 | 1.18 | 0.99 | 0.73 | 4.22 | |
| 2016 | 1.21 | - | 0.88 | 0.64 | 2.73 | |
| 2015 | 0.99 | 1.08 | 0.68 | 0.54 | 3.29 | |
| 2014 | 3.81 | -0.26 | 0.82 | 0.65 | 2.15 | |
| 2013 | 0.53 | 0.15 | 1.02 | 1.01 | 3.13 | |
| 2012 | 0.85 | 0.26 | 1.25 | 1.15 | 3.57 | |
| 2011 | 0.78 | 0.40 | 1.08 | 0.98 | 3.39 | |
| 2010 | 0.80 | 0.53 | 0.94 | 0.80 | 2.84 | |
| 2009 | 0.67 | 0.43 | 0.78 | 0.86 | 2.65 | |
| 2008 | 0.58 | 0.43 | 0.88 | 0.70 | 2.6 | |
| 2007 | 0.72 | 0.30 | 0.72 | -0.37 | 1.35 | |
| 2006 | 0.59 | 0.41 | 0.67 | 0.61 | 2.16 | |
| 2005 | 0.53 | 0.35 | 0.56 | 0.52 | 1.78 |