Darden Restaurants Reports Fiscal 2026 First Quarter Results; Declares Quarterly Dividend; And Updates Fiscal 2026 Financial Outlook
Darden Restaurants (NYSE:DRI) reported strong fiscal 2026 first quarter results with total sales increasing 10.4% to $3.0 billion. The growth was driven by a 4.7% blended same-restaurant sales increase and additional sales from the acquisition of 103 Chuy's restaurants. Olive Garden and LongHorn Steakhouse performed exceptionally well, with same-restaurant sales growth of 5.9% and 5.5% respectively.
The company reported adjusted diluted earnings per share of $1.97, a 12.6% increase year-over-year, excluding transaction costs and gains from asset sales. Darden's Board declared a quarterly dividend of $1.50 per share and repurchased $183 million in common stock. The company updated its fiscal 2026 outlook, projecting total sales growth of 7.5-8.5% and adjusted EPS of $10.50-$10.70.
Darden Restaurants (NYSE:DRI) ha riportato solidi risultati nel primo trimestre fiscale 2026, con vendite totali in aumento del 10,4% a 3,0 miliardi di dollari. La crescita è stata guidata da un aumento combinato delle vendite negli stessi ristoranti del 4,7% e dalle vendite aggiuntive derivanti dall’acquisizione di 103 ristoranti Chuy's. Olive Garden e LongHorn Steakhouse hanno performato particolarmente bene, con una crescita delle vendite negli stessi ristoranti del 5,9% e 5,5% rispettivamente.
La società ha riportato un utile diluito rettificato per azione di 1,97 dollari, in aumento del 12,6% su base annua, escludendo costi di transazione e guadagni da cessioni di asset. Il Consiglio di amministrazione di Darden ha dichiarato un dividendo trimestrale di 1,50 dollari per azione e ha riacquistato azioni ordinarie per 183 milioni di dollari. L’azienda ha aggiornato le proprie prospettive per il 2026, prevedendo una crescita delle vendite totali tra il 7,5% e l’8,5% e un EPS rettificato tra 10,50 e 10,70 dollari.
Darden Restaurants (NYSE:DRI) reportó sólidos resultados del primer trimestre fiscal de 2026, con las ventas totales aumentando un 10,4% hasta 3.0 mil millones de dólares. El crecimiento estuvo impulsado por un incremento mixto de ventas en restaurantes iguales del 4,7% y ventas adicionales provenientes de la adquisición de 103 restaurantes de Chuy's. Olive Garden y LongHorn Steakhouse tuvieron un desempeño excepcional, con crecimiento de ventas en mismos restaurantes del 5,9% y 5,5% respectivamente.
La compañía reportó utilidad por acción diluida ajustada de 1,97 dólares, un incremento del 12,6% interanual, excluyendo costos de transacción y ganancias por ventas de activos. La Junta Directiva de Darden declaró un dividendo trimestral de 1,50 dólares por acción y recompró acciones comunes por 183 millones de dólares. La empresa actualizó su perspectiva para 2026, prevendo una crecimiento de ventas totales del 7,5-8,5% y un EPS ajustado de 10,50-10,70 dólares.
Darden Restaurants (NYSE:DRI)는 2026 회계연도 1분기 실적에서 총 매출 30억 달러로 전년 대비 10.4% 증가를 보고했습니다. 성장은 동일점 매장 매출의 혼합 증가율 4.7%과 103개 Chuys 레스토랑 인수로 인한 추가 매출에 의해 주도되었습니다. Olive Garden와 LongHorn Steakhouse는 각각 동일점 매장 매출이 5.9%, 5.5% 증가하는 등 특히 우수한 실적을 보였습니다.
회사 측은 조정 희석 주당순이익 1.97달러를 발표했고, 거래 비용과 자산 매각 수익을 제외하면 전년 대비 12.6% 증가했습니다. Darden 이사회는 주당 1.50달러의 분기 배당금을 선언했고 보통주를 1억8300만 달러어치 재매입했습니다. 또한 2026 회계연도 전망을 업데이트하여 총매출 성장 7.5-8.5%와 조정 EPS 10.50-10.70달러를 제시했습니다.
Darden Restaurants (NYSE: DRI) a publié des résultats solides pour le premier trimestre fiscal 2026, avec des ventes totales en hausse de 10,4% pour atteindre 3,0 milliards de dollars. La croissance a ététirée par une hausse moyenne des ventes comparables de 4,7% et des ventes supplémentaires issues de l’acquisition de 103 restaurants Chuy's. Olive Garden et LongHorn Steakhouse ont affiché des performances exceptionnelles, avec une croissance des ventes comparables de 5,9% et 5,5% respectivement.
La société a enregistré un bénéfice par action dilué ajusté de 1,97 dollar, en hausse de 12,6% sur un an, hors coûts de transaction et gains sur cessions d’actifs. Le conseil d’administration a déclaré un dividende trimestriel de 1,50 dollar par action et a racheté des actions ordinaires pour 183 millions de dollars. L’entreprise a révisé ses perspectives pour 2026, prévoyant une croissance des ventes totales de 7,5 à 8,5% et un BPA ajusté entre 10,50 et 10,70 dollars.
Darden Restaurants (NYSE:DRI) meldete solide Ergebnisse im ersten Quartal des Geschäftsjahres 2026 mit einem Gesamtumsatz von 3,0 Milliarden USD, der um 10,4% gestiegen ist. Das Wachstum wurde von einer durchschnittlichen Umsatzsteigerung bei gleichbleibenden Filialen von 4,7% sowie zusätzlichen Umsätzen aus dem Erwerb von 103 Chuy's-Restaurants getragen. Olive Garden und LongHorn Steakhouse schnitten außerordentlich gut ab, mit einem Umsatzwachstum pro Filiale von 5,9% bzw. 5,5%.
Das Unternehmen meldete einen bereinigten dilutierten Gewinn je Aktie von 1,97 USD, eine Steigerung von 12,6% gegenüber dem Vorjahr, exklusive Transaktionskosten und Gewinne aus dem Verkauf von Vermögenswerten. Der Vorstand von Darden erklärte eine vierteljährliche Dividende von 1,50 USD pro Aktie und hat Aktien im Wert von 183 Mio. USD zurückgekauft. Das Unternehmen aktualisierte seine Geschäftsausblicke für 2026 und prognostizierte ein Gesamtumsatzwachstum von 7,5–8,5% sowie einen bereinigten EPS von 10,50–10,70 USD.
داردن ريسّترانتس (NYSE: DRI) أبلغت عن نتائج قوية للربع الأول من السنة المالية 2026، حيث ارتفع إجمالي المبيعات بنسبة 10.4% ليصل إلى 3.0 مليار دولار. تعزز النمو من ارتفاع متوسط المبيعات المماثلة للمطاعم بنسبة 4.7% ومن مبيعات إضافية نتيجة استحواذها على 103 مطاعم تشويز. أبدت Olive Garden وLongHorn Steakhouse أداءً استثنائيًا، مع نمو المبيعات المماثلة للمطاعم بنسبة 5.9% و5.5% على التوالي.
أعلنت الشركة عن أرباح مخففة معدلة للسهم قدرها 1.97 دولار، بزيادة 12.6% على أساس سنوي، باستثناء تكاليف المعاملات وأرباح من بيع الأصول. قررت مجلس إدارة داردن توزيعا ربع سنويًا قدره 1.50 دولار للسهم وأعاد شراء 183 مليون دولار من الأسهم العادية. حدّثت الشركة海 آفاقها لعام 2026، متوقعة نمو في المبيعات الإجمالية بين 7.5-8.5% وربح السهم المعدل بين 10.50-10.70 دولار.
Darden Restaurants (NYSE:DRI) 公布了2026财政年度第一季度强劲业绩，总销售额增至30亿美元，同比增长10.4%。增长由同店销售综合增长4.7%以及收购103家Chuy's餐厅带来的额外销售推动。橄榄园（Olive Garden）和LongHorn牛排馆表现尤为出色，同店销售分别增长5.9%和5.5%。
公司公布了经调整的摊薄每股收益为1.97美元，较上年同期增长12.6%，不含交易成本和资产出售收益。董事会宣布每股1.50美元的季度股息，并回购普通股1.83亿美元。公司更新了2026财年展望，预计总销售额增长7.5-8.5%，经调整的每股收益在10.50-10.70美元之间。
- Total sales increased 10.4% to $3.0 billion
- Same-restaurant sales grew 4.7% across portfolio
- Olive Garden posted strong 5.9% same-restaurant sales growth
- Adjusted EPS increased 12.6% to $1.97
- Quarterly dividend of $1.50 per share maintained
- Share repurchases of $183 million executed
- Successful integration of 103 Chuy's restaurants
- Fine Dining segment showed negative same-restaurant sales growth of -0.2%
- Total inflation expected at 3.0-3.5% for fiscal 2026
- Closed 22 underperforming restaurants in previous quarter
First Quarter 2026 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year
- Total sales increased
10.4% to$3.0 billion 4.7% and sales from the acquisition of 103 Chuy's Tex Mex (Chuy's) restaurants and 22 net new restaurants - Same-restaurant sales:
Consolidated Darden1 | 4.7 % | ||||
Olive Garden | 5.9 % | ||||
LongHorn Steakhouse | 5.5 % | ||||
Fine Dining | (0.2) % | ||||
Other Business1 | 3.3 % |
- Reported diluted net earnings per share from continuing operations were
$2.19 - Excluding
$0.02 $0.02 $(0.26) $1.97 12.6% 3 - The Company repurchased
$183 million
"We had a strong start to the fiscal year with same-restaurant sales and earnings growth that exceeded our expectations," said Darden President & CEO Rick Cardenas. "The strength of our results is a testament to the power of our strategy. Across our portfolio, our restaurant teams remained focused on being brilliant with the basics and, at the Darden level, we continued to leverage our four competitive advantages to position our brands for long-term success. Our winning strategy is enabling us to grow sales and market share, while making meaningful investments in our business and returning capital to our shareholders."
Segment Performance
During the fourth quarter of fiscal 2025, the Company changed its reporting of segment profit to exclude pre-opening costs. Fiscal 2025 figures were recast for comparability. Segment profit represents sales, less costs for food and beverage, restaurant labor, restaurant expenses and marketing expenses. Segment profit excludes non-cash real estate related expenses. Sales and profits from Chuy's restaurants are included within the Other Business segment from the date of acquisition forward.
Q1 Sales | Q1 Segment Profit | |||||||
($ in millions) | 2026 | 2025 | 2026 | 2025 | ||||
Consolidated Darden | ||||||||
Olive Garden | ||||||||
LongHorn Steakhouse | ||||||||
Fine Dining | ||||||||
Other Business | ||||||||
1 | Will not include Chuy's until they have been owned and operated by Darden for a 16-month period (Q4 Fiscal 2026) and does not include Bahama Breeze as they are not expected to be operated by Darden for the entirety of the fiscal year. |
2 | Costs related to the closure of 22 underperforming restaurants that were permanently closed during the fourth quarter of Fiscal 2025 |
3 | See the "Non-GAAP Information" below for more details |
Dividend Declared
Darden's Board of Directors declared a quarterly cash dividend of
Share Repurchase Program
During the quarter, the Company repurchased approximately 0.9 million shares of its common stock for a total of
Fiscal 2026 Financial Outlook
The Company updated its full year financial outlook for fiscal 2026, which includes a 53rd week. This outlook includes the impact of the additional week. We will provide additional details during our investor conference call scheduled for this morning at 8:30 am ET.
- Total sales growth of
7.5% to8.5% , including approximately2% growth related to the 53rd week - Same-restaurant sales4 growth of
2.5% to3.5% - New restaurant openings of approximately 65
- Total capital spending of
$700 $750 million - Total inflation of
3.0% to3.5% - An effective tax rate of approximately
13% - Adjusted diluted net earnings per share from continuing operations of
$10.50 $10.70 - Approximately
$0.20
- Approximately
- Approximately 117 million weighted average diluted shares outstanding
4 | Annual same-restaurant sales is a 52-week metric and excludes the impact of Chuy's, which will not have been owned and operated by Darden for a 16-month period prior to the beginning of Fiscal 2026, as well as Bahama Breeze as they are not expected to be operated by Darden for the entirety of the fiscal year. |
Investor Conference Call
The Company will host a conference call and slide presentation today, Thursday, September 18, 2025 at 8:30 am ET to review its recent financial performance. The call will be webcast live at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=4nZwpAXI. Please allow extra time prior to the call to visit the site and download any software required to listen to the webcast. Prior to the call, a slide presentation will be posted on the Investor Relations section of our website at: www.darden.com. For those who cannot access the Internet, please dial 1-877-407-9219. For those who cannot listen to the live broadcast, a replay will be available shortly after the call.
About Darden
Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steak House, Cheddar's Scratch Kitchen, The Capital Grille, Chuy's, Seasons 52, Eddie V's and Bahama Breeze. For more information, please visit www.darden.com.
Information About Forward-Looking Statements
Forward-looking statements in this communication regarding our expected earnings performance and all other statements that are not historical facts, including without limitation statements concerning our future economic performance, are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements speak only as of the date on which such statements are first made, and we undertake no obligation to update such statements to reflect events or circumstances arising after such date. We wish to caution investors not to place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to materially differ from those anticipated in the statements. The most significant of these uncertainties are described in Darden's Form 10-K, Form 10-Q and Form 8-K reports. These risks and uncertainties include: a failure to address cost pressures and a failure to effectively deliver cost management activities and achieve some economies of scale in purchasing, certain economic and business factors and their impacts on the restaurant industry and other general macroeconomic factors including unemployment, energy prices, tariffs and interest rates, the inability to hire, train, reward and retain restaurant team members and determine and maintain adequate staffing, a failure to recruit, develop and retain effective leaders or the loss or shortage of personnel with key capacities and skills that could impact our strategic direction, increased labor and insurance costs, health concerns arising from food-related pandemics, outbreaks of flu, viruses or other diseases, food safety and food-borne illness concerns, insufficient guest or employee facing technology or a failure to maintain a continuous and secure cyber network, compliance with privacy and data protection laws and risks of failures or breaches of our data protection systems, the inability to successfully complete our integration of Chuy's Holdings operations into our business, risks relating to public policy changes and federal, state and local regulation of our business, intense competition, changing consumer preferences, an inability or failure to recognize, respond to and effectively manage the accelerated impact of social media, a failure to identify and execute innovative marketing and guest relationship tactics, ineffective or improper use of other marketing initiatives and increased advertising and marketing costs, climate change, adverse weather conditions and natural disasters, long-term and non-cancelable property leases, inability or failure to execute a business continuity plan following a major natural disaster, shortages , delays or interruptions in the delivery of food and other products and services from our third-party vendors and suppliers, failure to drive profitable sales growth, a lack of availability of suitable locations for new restaurants or a decline in the quality of locations of our current restaurants, higher-than-anticipated costs associated with the opening of new restaurants or with the closing, relocating or remodeling of existing restaurants, risks associated with doing business with franchisees, licensees and vendors in foreign markets, volatility in the market value of derivatives, volatility in the
Non-GAAP Information
The information in this press release includes financial information determined by methods other than in accordance with
(Analysts) Courtney Aquilla, (407) 245-5054; (Media) Rich Jeffers, (407) 245-4189
Fiscal Q1 Reported to Adjusted Earnings Reconciliation | |||||||||
Q1 2026 | Q1 2025 | ||||||||
$ in millions, except per share amounts | Earnings | Income | Net | Diluted | Earnings | Income | Net | Diluted | |
Reported Earnings from Continuing Operations | $ 293.8 | $ 35.9 | $ 257.9 | $ 2.19 | $ 232.1 | $ 24.5 | $ 207.6 | $ 1.74 | |
% Change vs Prior Year | 25.9 % | ||||||||
Adjustments: | |||||||||
Acquisition transaction and integration related costs | 3.6 | 0.9 | 2.7 | 0.02 | 1.5 | 0.3 | 1.2 | 0.01 | |
Closed restaurants2 | 3.1 | 0.8 | 2.3 | 0.02 | — | — | — | — | |
Gain on Olive Garden Canada sale | (42.0) | (10.5) | (31.5) | (0.26) | — | — | — | — | |
Adjusted Earnings from Continuing Operations | $ 258.5 | $ 27.1 | $ 231.4 | $ 1.97 | $ 233.6 | $ 24.8 | $ 208.8 | $ 1.75 | |
% Change vs Prior Year | 12.6 % | ||||||||
Reconciliation of Fiscal 2026 Reported to Adjusted Earnings Outlook | |||
2026 | |||
Reported diluted net earnings per share from continuing operations | to | ||
Chuy's transaction and integration related costs | 0.06 | 0.06 | |
Closed restaurants2 | 0.06 | 0.06 | |
Gain on Olive Garden Canada sale | (0.26) | (0.26) | |
Adjusted diluted net earnings per share from continuing operations | to | ||
Darden Restaurants, Inc. Number of Company-Owned Restaurants | ||
8/24/25 | 8/25/24 | |
Olive Garden | 933 | 923 |
LongHorn Steakhouse | 595 | 577 |
Cheddar's Scratch Kitchen | 182 | 181 |
Chuy's | 108 | — |
Yard House | 89 | 88 |
Ruth's Chris Steak House | 82 | 82 |
The Capital Grille | 73 | 68 |
Seasons 52 | 43 | 44 |
Eddie V's | 29 | 29 |
Bahama Breeze | 28 | 44 |
The Capital Burger | 3 | 4 |
Darden Continuing Operations | 2,165 | 2,040 |
DARDEN RESTAURANTS, INC. CONSOLIDATED STATEMENTS OF EARNINGS (In millions, except per share data) (Unaudited)
| |||
Three Months Ended | |||
8/24/2025 | 8/25/2024 | ||
Sales | $ 3,044.7 | $ 2,757.0 | |
Costs and expenses: | |||
Food and beverage | 929.1 | 846.7 | |
Restaurant labor | 988.0 | 889.3 | |
Restaurant expenses | 504.2 | 453.7 | |
Pre-opening costs | 5.9 | 4.5 | |
Marketing expenses | 49.1 | 44.7 | |
General and administrative expenses | 136.1 | 126.4 | |
Depreciation and amortization | 135.1 | 121.5 | |
Impairments and (gain) loss on disposal of assets, net | (42.0) | 1.0 | |
Total operating costs and expenses | $ 2,705.5 | $ 2,487.8 | |
Operating income | 339.2 | 269.2 | |
Interest, net | 45.4 | $ 37.1 | |
Earnings before income taxes | 293.8 | 232.1 | |
Income tax expense | 35.9 | 24.5 | |
Earnings from continuing operations | $ 257.9 | $ 207.6 | |
Losses from discontinued operations, net of tax benefit of | (0.1) | (0.4) | |
Net earnings | $ 257.8 | $ 207.2 | |
Basic net earnings per share: | |||
Earnings from continuing operations | $ 2.21 | $ 1.75 | |
Losses from discontinued operations | — | — | |
Net earnings | $ 2.21 | $ 1.75 | |
Diluted net earnings per share: | |||
Earnings from continuing operations | $ 2.19 | $ 1.74 | |
Losses from discontinued operations | — | — | |
Net earnings | $ 2.19 | $ 1.74 | |
Average number of common shares outstanding: | |||
Basic | 116.7 | 118.5 | |
Diluted | 117.6 | 119.2 | |
DARDEN RESTAURANTS, INC. CONSOLIDATED BALANCE SHEETS (In millions)
| |||
8/24/2025 | 5/25/2025 | ||
(Unaudited) | |||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 211.0 | $ 240.0 | |
Receivables, net | 94.1 | 93.8 | |
Inventories | 309.6 | 311.6 | |
Prepaid income taxes | 155.7 | 135.6 | |
Prepaid expenses and other current assets | 162.4 | 156.7 | |
Total current assets | $ 932.8 | $ 937.7 | |
Land, buildings and equipment, net | 4,826.6 | 4,716.0 | |
Operating lease right-of-use assets | 3,608.0 | 3,555.9 | |
Goodwill | 1,658.2 | 1,659.4 | |
Trademarks | 1,346.4 | 1,346.4 | |
Other assets | 387.6 | 371.6 | |
Total assets | $ 12,759.6 | $ 12,587.0 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current liabilities: | |||
Accounts payable | $ 468.7 | $ 439.6 | |
Short-term debt | 142.0 | — | |
Accrued payroll | 180.0 | 207.5 | |
Accrued income taxes | 1.3 | 4.7 | |
Other accrued taxes | 93.0 | 83.0 | |
Unearned revenues | 562.7 | 599.4 | |
Other current liabilities | 899.1 | 913.3 | |
Total current liabilities | $ 2,346.8 | $ 2,247.5 | |
Long-term debt | 2,135.1 | 2,128.9 | |
Deferred income taxes | 333.0 | 278.8 | |
Operating lease liabilities - non-current | 3,878.3 | 3,816.9 | |
Other liabilities | 1,840.8 | 1,803.6 | |
Total liabilities | $ 10,534.0 | $ 10,275.7 | |
Stockholders' equity: | |||
Common stock and surplus | $ 2,300.2 | $ 2,295.6 | |
Retained earnings (deficit) | (100.6) | (16.1) | |
Accumulated other comprehensive income | 26.0 | 31.8 | |
Total stockholders' equity | $ 2,225.6 | $ 2,311.3 | |
Total liabilities and stockholders' equity | $ 12,759.6 | $ 12,587.0 | |
DARDEN RESTAURANTS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited)
| |||
Three Months Ended | |||
8/24/2025 | 8/25/2024 | ||
Cash flows—operating activities | |||
Net earnings | $ 257.8 | $ 207.2 | |
Losses from discontinued operations, net of tax | 0.1 | 0.4 | |
Adjustments to reconcile net earnings from continuing operations to cash flows: | |||
Depreciation and amortization | 135.1 | 121.5 | |
Impairments and (gain) loss on disposal of assets, net | (42.0) | 1.0 | |
Stock-based compensation expense | 25.0 | 34.7 | |
Change in current assets and liabilities and other, net | (33.5) | (91.6) | |
Net cash provided by operating activities of continuing operations | $ 342.5 | $ 273.2 | |
Cash flows—investing activities | |||
Purchases of land, buildings and equipment | (174.1) | (145.2) | |
Proceeds from disposal of land, buildings and equipment | 20.3 | — | |
Purchases of capitalized software and changes in other assets, net | (5.5) | (4.5) | |
Net cash used in investing activities of continuing operations | $ (159.3) | $ (149.7) | |
Cash flows—financing activities | |||
Net proceeds from issuance of common stock | 8.8 | 9.7 | |
Dividends paid | (175.1) | (166.0) | |
Repurchases of common stock | (182.7) | (172.4) | |
Proceeds from short-term debt, net | 142.0 | 207.1 | |
Principal payments on finance leases, net | (5.2) | (5.1) | |
Net cash used in financing activities of continuing operations | $ (212.2) | $ (126.7) | |
Increase (decrease) in cash, cash equivalents, and restricted cash | (29.0) | (3.2) | |
Cash, cash equivalents, and restricted cash - beginning of period | 254.5 | 220.1 | |
Cash, cash equivalents, and restricted cash - end of period | $ 225.5 | $ 216.9 | |
| |||
Reconciliation of cash, cash equivalents, and restricted cash: | 8/24/2025 | 8/25/2024 | |
Cash and cash equivalents | $ 211.0 | $ 192.5 | |
Restricted cash included in prepaid expenses and other current assets | 14.5 | 24.4 | |
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | $ 225.5 | $ 216.9 | |
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SOURCE Darden Restaurants, Inc.: Financial
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