Olive Garden owner Darden has seen a drop in lower-income diners patronizing its restaurants.The company, which also owns Longhorn Steakhouse, on Thursday (March 21) reported earnings that showed sales up 6.8% for the quarter, driven primarily by its recently-acquired Ruth’s Chris Steakhouse chain.However, a recurring theme during the company’s earnings call was pullback among lower-income consumers.“We’re clearly seeing consumer behavior shifts,” CEO Rick Cardenas said, noting that transactions from househ ...

Darden Restaurants, Inc. (DRI) reported dismal third-quarter fiscal 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. The metrics increased on a year-over-year basis.Following the results, the stock dropped 4.3% in the pre-market trading session. Negative investor sentiments were witnessed as DRI provided a lower-than-expected sales outlook for fiscal 2024. Management cited concerns relating to a challenging operating environment.Earnings & RevenuesDuring the fiscal third quarte ...

财务数据和关键指标变化 - 总销售额为30亿美元,同比增长6.8% [11] - 经调整每股摊薄净收益为2.62美元,符合预期 [11] - 餐厅级EBITDA率为20.6%,同比提高70个基点 [26] - 总费用略优于之前指引,主要由于激励薪酬较低和对Ruth's Chris的整合协同效应 [27] 各条业务线数据和关键指标变化 - Olive Garden总销售额增长0.7%,同店销售下降1.8%,但仍优于行业240个基点 [29] - LongHorn总销售额增长5.1%,同店销售增长2.3%,优于行业650个基点 [30] - 高端餐饮板块总销售额增长,但同店销售均为负,受高端餐饮板块持续挑战 [31] - 其他业务板块总销售额增长,同店销售下降2.6%,但仍优于行业160个基点 [32] 各个市场数据和关键指标变化 - 德克萨斯州和加利福尼亚州市场持续疲软 [138] - 佛罗里达州市场略有疲软,但影响不大 [138] - 上述地区的疲软部分受到不利天气影响 [138] 公司战略和发展方向及行业竞争 - 公司继续专注于执行"回归基本"的经营理念,提升食品、服务和环境 [12] - 公司正在整合Ruth's Chris,预计在本财年内完成主要变革 [16] - 公司在激烈的营销竞争环境下仍能持续获得市场份额,体现了其竞争优势 [12][50] - 公司未来将保持谨慎的营销策略,不会转向大幅促销和折扣 [74][103] 管理层对经营环境和未来前景的评论 - 第三季度开始良好,但1月受到不利天气影响,2月有所改善但仍低于预期 [11] - 低收入消费者有所收缩,但公司的客户结构已恢复至疫情前水平 [40][41][48] - 行业整体流量趋弱,但公司仍能持续获得市场份额 [12][49] - 公司有信心应对未来的挑战,并将继续专注于执行战略和控制可控因素 [87] 问答环节重要的提问和回答 问题1 **Eric Gonzalez 提问** 低收入消费者收缩的具体表现和不同品牌的差异 [40] **Rick Cardenas 回答** 收入低于7.5万美元的消费者交易量大幅下降,高于15万美元的消费者交易量有所增长,这种差异在各品牌中都有体现,尤其在高端餐饮板块更为明显 [41] 问题2 **Brian Bittner 提问** 如何在营销竞争加剧的环境下保持品牌知名度和吸引力 [64] **Rick Cardenas 回答** 公司将继续专注于提升品牌核心价值,利用电子会员等数字渠道与消费者互动,同时保持谨慎的营销策略 [65][103] 问题3 **Jon Tower 提问** 未来一年的新店开店计划为何相对较低 [66][67] **Rick Cardenas 回答** 受建筑成本上升和开店周期延长的影响,公司未来一年的新店开店计划相对较低,但未来仍有望逐步提高至长期目标区间 [67][68][69]

Darden Restaurants (DRI) reported $2.97 billion in revenue for the quarter ended February 2024, representing a year-over-year increase of 6.8%. EPS of $2.62 for the same period compares to $2.34 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.03 billion, representing a surprise of -1.87%. The company delivered an EPS surprise of -0.38%, with the consensus EPS estimate being $2.63.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

Darden Restaurants (DRI) came out with quarterly earnings of $2.62 per share, missing the Zacks Consensus Estimate of $2.63 per share. This compares to earnings of $2.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.38%. A quarter ago, it was expected that this owner of Olive Garden and other chain restaurants would post earnings of $1.71 per share when it actually produced earnings of $1.84, delivering a surprise of 7.60 ...

Olive Garden餐厅业绩 - Darden Restaurants季度报告显示，同店销售首次自疫情以来下滑[1] - 公司报告每股收益为$2.62，符合预期，营收为$2.97亿，低于预期的$3.03亿[2] - Darden第三财季净收入为3.129亿美元，每股收益为2.60美元，较去年同期的2.34美元增长，净销售额增长了6.8%至2.97亿美元[2]

Exhibit 99.1 Darden Restaurants Reports Fiscal 2024 Third Quarter Results; Declares Quarterly Dividend; Authorizes New $1 Billion Share Repurchase Program; And Updates Fiscal 2024 Financial Outlook ORLANDO, Fla., March 21, 2024 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the third quarter ended February 25, 2024. Third Quarter 2024 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year • Total sales increased 6.8% to $3.0 billion, driven by sa ...

Wall Street analysts expect Darden Restaurants (DRI) to post quarterly earnings of $2.64 per share in its upcoming report, which indicates a year-over-year increase of 12.8%. Revenues are expected to be $3.04 billion, up 9% from the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a company's earnin ...

Darden Restaurants, Inc. (DRI) is scheduled to report third-quarter fiscal 2024 results on Mar 21, before the opening bell. In the last reported quarter, DRI delivered an earnings surprise of 7.6%.Q3 EstimatesThe Zacks Consensus Estimate for earnings is pegged at $2.64 per share, indicating growth of 12.8% from the prior-year levels. The consensus estimate for revenues is pegged at $3.04 billion, implying an increase of 9% from the year-ago figure.Factors to NoteDarden is anticipated to have achieved strong ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Darden Restaurants (DRI) reports results for the quarter ended February 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on March 21, 2024, might help the stock move higher if these key numbers are better t ...