Welcome to our dedicated page for Darden Restaurants news (Ticker: DRI), a resource for investors and traders seeking the latest updates and insights on Darden Restaurants stock.
Darden Restaurants, Inc. (NYSE: DRI) is a multi-brand, full-service restaurant company whose news flow centers on financial performance, portfolio development and capital allocation. Public announcements frequently cover quarterly and annual results, with detailed disclosures on total sales, blended same-restaurant sales by segment, segment profit, and the number of company-owned restaurants across its brands.
Investors following DRI news can expect regular earnings releases for each fiscal quarter and year. These updates highlight performance at Olive Garden, LongHorn Steakhouse, Fine Dining and Other Business segments, including the impact of acquisitions such as Chuy's Tex Mex restaurants and net new restaurant openings. Darden also uses these releases to update its fiscal outlook, providing guidance ranges for total sales growth, same-restaurant sales growth, new restaurant openings, capital spending, inflation assumptions, effective tax rate and adjusted diluted net earnings per share from continuing operations.
Darden’s news also includes dividend declarations and share repurchase activity. The company regularly announces quarterly cash dividends on its common stock and reports the number of shares repurchased and remaining authorization under its share repurchase program. These items provide insight into how management allocates capital between growth investments and returns to shareholders.
Additional news items may cover strategic initiatives and partnerships affecting its brands. For example, Darden has announced a pilot of on-demand delivery at Cheddar's Scratch Kitchen using Uber Direct, building on an earlier rollout at Olive Garden. Such releases describe how specific brands test new service models within the broader portfolio.
Corporate governance and executive compensation developments also appear in Darden’s news and related SEC filings. These can include results of the annual meeting of shareholders, advisory votes on executive compensation, ratification of the independent registered public accounting firm, and special performance-based equity awards for senior executives.
For a consolidated view of these updates, the DRI news page aggregates press releases and related information so readers can track earnings, outlook changes, dividends, repurchases, brand-level initiatives and governance actions over time.
Authentic Restaurant Brands (ARB) has announced the addition of Tavern in the Square to its portfolio through the recapitalization of Broadway Hospitality Group. This marks ARB's fifth acquisition in five years, growing the platform to approximately $1 billion in annual revenue and over $150 million in EBITDA.
In a leadership transition, Alex Macedo has been appointed Chairman and CEO, replacing Felipe Athayde, while Jon Howie joins as CFO from Chuy's Holdings. ARB's portfolio now includes regional brands: Primanti Bros., P.J. Whelihan's, Mambo Seafood, Pollo Tropical, and Tavern in the Square.
The New England-based Tavern in the Square will receive operational support, strategic capital, and technological resources from ARB to drive growth in core and adjacent markets, while maintaining its brand integrity and local dining experience.
Darden Restaurants (NYSE: DRI) has announced it will release its fiscal 2025 third quarter financial results before market opening on Thursday, March 20, 2025. The company will hold a conference call at 8:30 am ET on the same day, where CEO Rick Cardenas and senior management will discuss the quarterly results and host a Q&A session. A replay of the call will be made available for those unable to attend the live broadcast.
Darden Restaurants (NYSE:DRI) reported strong Q2 FY2025 results with total sales increasing 6.0% to $2.9 billion, driven by a 2.4% same-restaurant sales growth and the addition of 103 Chuy's restaurants plus 39 net new locations. LongHorn Steakhouse led performance with 7.5% same-restaurant sales growth, while Fine Dining saw a 5.8% decline.
Adjusted diluted earnings per share reached $2.03, up 10.3% year-over-year, excluding Chuy's transaction costs. The company repurchased $142 million in common stock and declared a quarterly dividend of $1.40 per share. For fiscal 2025, Darden updated guidance to approximately $12.1 billion in total sales and adjusted EPS of $9.40-$9.60.
Darden Restaurants (NYSE: DRI) has appointed Daryl Kenningham to its Board of Directors, expanding the board from nine to ten members. Kenningham, 60, currently serves as President and CEO of Group 1 Automotive, bringing extensive experience in multi-unit operations and leadership of large, dispersed organizations.
Prior to his current role at Group 1 Automotive, which he assumed in January 2023, Kenningham served as the company's Chief Operating Officer and President of U.S. Operations. He also serves on the Board of Directors for Group 1 Automotive and the Greater Houston Partnership.
Darden Restaurants (NYSE: DRI) has announced it will release its fiscal 2025 second quarter financial results before market opening on Thursday, December 19, 2024. The company will host a conference call at 8:30 am ET on the same day, where CEO Rick Cardenas and senior management will discuss the quarterly results and conduct a Q&A session. The call will be accessible via web broadcast and telephone, with a replay available after the live event.
Darden Restaurants (NYSE:DRI) has completed the acquisition of Chuy's Holdings in an all-cash transaction valued at approximately $605 million.
The acquisition was approved by a majority of Chuy's Holdings' stockholders on October 10, 2024, following the merger agreement announced on July 17, 2024. Darden financed the acquisition with proceeds from a $400 million offering of 4.350% senior notes due 2027 and a $350 million offering of 4.550% senior notes due 2029, issued on October 3, 2024.
Chuy's, founded in 1982 in Austin, Texas, operates over 100 restaurants across 15 states, offering authentic Tex-Mex inspired dishes in a unique atmosphere. With this acquisition, Chuy's joins Darden's diverse portfolio of brands, including Olive Garden and LongHorn Steakhouse.
As a result of the merger, Chuy's Holdings' common stock has ceased trading on Nasdaq.
Darden Restaurants (NYSE: DRI) and Uber Technologies (NYSE: UBER) have announced an exclusive multi-year delivery partnership, starting with Olive Garden in late 2024. The collaboration will enable on-demand delivery through Olive Garden's channels, powered by Uber Direct. A pilot program will begin in late 2024, with national expansion expected by May 2025.
Key points:
- Guests can order delivery via Olive Garden's website and app
- Service will be available at over 900 company-owned locations across the U.S.
- Olive Garden retains guest data and insights
- Custom integration aims to preserve team member and guest experience
- Partnership addresses growing demand for home delivery while maintaining Olive Garden's competitive advantages
Darden Restaurants (NYSE: DRI) reported its fiscal 2025 Q1 results, showing a 1.0% increase in total sales to $2.8 billion, driven by 42 net new restaurants. However, the company experienced a blended same-restaurant sales decrease of 1.1%. Adjusted diluted net earnings per share from continuing operations were $1.75, a 1.7% decrease from the previous year. LongHorn Steakhouse was a bright spot with 3.7% same-restaurant sales growth, while Olive Garden saw a 2.9% decline. The company repurchased $172 million of its outstanding common stock and declared a quarterly cash dividend of $1.40 per share. Despite falling short of Q1 expectations, Darden reiterated its fiscal 2025 outlook, projecting diluted net earnings per share from continuing operations of $9.40 to $9.60.
Darden Restaurants (NYSE: DRI) has announced its plans to release its fiscal 2025 first quarter financial results on Thursday, September 19, 2024, before the market opens. This will be followed by a conference call at 8:30 am ET on the same day. CEO Rick Cardenas and other senior management will discuss the first quarter results and conduct a Q&A session.
Investors and analysts can access the live conference call via the internet or telephone. The webcast will be available at https://event.choruscall.com/mediaframe/webcast.html?webcastid=PaNJ6RaT, while those preferring to dial in can use the number 877-407-9219. A replay of the call will be made available shortly after its conclusion for those unable to attend the live broadcast.
Darden Restaurants (NYSE:DRI) has announced its acquisition of Chuy's Holdings (Nasdaq: CHUY) in an all-cash transaction valued at approximately $605 million. Darden will acquire all outstanding shares of Chuy's for $37.50 per share, representing a 40% premium to the 60-day volume weighted average price. Chuy's, a Tex-Mex restaurant chain founded in 1982, will complement Darden's portfolio of brands including Olive Garden and LongHorn Steakhouse.
The acquisition is expected to be neutral to Darden's diluted net earnings per share for fiscal 2025 and accretive by 12 to 15 cents in fiscal 2027. Darden anticipates pre-tax net synergies of about $15 million by the end of fiscal 2026. The transaction, unanimously approved by both companies' boards, is expected to close in Darden's fiscal second quarter, subject to customary conditions.
FAQ
What is the current stock price of Darden Restaurants (DRI)?
What is the market cap of Darden Restaurants (DRI)?
