Darden Restaurants Inc Stock Price, News & Analysis

Darden Restaurants, Inc. (NYSE: DRI) announced the retirement of CEO Eugene Lee, effective May 29, 2022. He will transition to Executive Chairman. The Board has appointed Ricardo Cardenas, currently President and COO, as the new CEO starting May 30, 2022. Under Lee's leadership, Darden's revenue grew by over $2 billion, and market capitalization increased to nearly $20 billion. Cardenas, who has a history with the company since 1984, expresses gratitude for the opportunity and is committed to driving growth and shareholder value.

Darden Restaurants, Inc. (NYSE:DRI) reported strong financial results for Q2 of fiscal 2022, with total sales rising by 37% to $2.27 billion. Same-restaurant sales increased by 34.4%, with notable growth across segments: Fine Dining (61.6%) and LongHorn Steakhouse (31.2%). Diluted net earnings per share rose to $1.48, up from $0.74 the previous year. The company also announced a quarterly dividend of $1.10 per share and allocated $266 million for share repurchases. For fiscal 2022, Darden anticipates total sales of approximately $9.55 to $9.70 billion.

Darden Restaurants, Inc. (NYSE: DRI) will announce its fiscal 2022 second quarter financial results before the market opens on December 17, 2021. A conference call hosted by CEO Gene Lee and senior management will take place at 8:30 am ET to discuss the results and answer questions. A replay will be accessible post-call. Darden's portfolio includes popular brands like Olive Garden and LongHorn Steakhouse.

Darden Restaurants reported a substantial 51% increase in total sales, reaching $2.31 billion for Q1 2022, driven by a 47.5% rise in same-restaurant sales and the addition of 34 new restaurants. Notably, net earnings from continuing operations hit $232 million, with diluted EPS soaring to $1.76 compared to $0.28 last year. Darden’s Board declared a quarterly dividend of $1.10 per share, payable November 1, 2021. The company raised its fiscal 2022 outlook, predicting total sales of $9.4 to $9.6 billion and diluted EPS of $7.25 to $7.60.

Darden Restaurants, Inc. (NYSE: DRI) will release its fiscal 2022 first quarter financial results on September 23, 2021, before the market opens. A conference call is scheduled for 8:30 am ET, featuring Gene Lee, CEO, along with other senior management members who will discuss the results and answer questions. The call can be accessed live online, or via telephone at 1-800-263-0877 using the passcode 2874518. For those unable to attend live, a replay will be available after the call.

Darden Restaurants reported a strong fourth quarter for fiscal 2021, with total sales rising 79.5% to $2.28 billion. The increase was fueled by a 90.4% rise in same-restaurant sales and 30 new locations. Diluted net earnings per share reached $2.79, recovering from a net loss of $3.85 last year. However, annual sales declined 7.8% to $7.20 billion. For fiscal 2022, Darden expects total sales of $9.2 to $9.5 billion, anticipating a 25% to 29% rise in same-restaurant sales. A quarterly dividend of $1.10 was declared, marking a 25% increase.

Darden Restaurants, Inc. (NYSE:DRI) will release its fiscal 2021 fourth quarter financial results before the market opens on June 24, 2021. A conference call will follow at 8:30 am ET, where CEO Gene Lee and senior management will discuss the results and conduct a Q&A session. For those unable to attend live, a replay will be available shortly after. Investors can access the call online or dial 1-833-470-0145 using the passcode 2283499. Darden operates brands like Olive Garden and LongHorn Steakhouse.

Darden Restaurants, Inc. (NYSE: DRI) reported Q3 fiscal 2021 financial results, with total sales of $1.73 billion, a 26.1% decrease year-over-year. Same-restaurant sales fell by 26.7%, driven by declines across all segments, particularly Fine Dining at (44.6)%. Diluted EPS from continuing operations was $0.98, down from $1.90 last year, while EBITDA stood at $236 million. Darden declared a quarterly cash dividend of $0.88 per share and authorized a new $500 million share repurchase program. Outlook for Q4 includes projected sales of $2.1 billion and EPS of $1.60-$1.70.

Darden Restaurants, Inc. (NYSE: DRI) is set to release its fiscal 2021 third quarter financial results on March 25, 2021, before the market opens. A conference call will follow at 8:30 am ET, featuring CEO Gene Lee and senior management discussing the results and addressing questions. Investors can listen to the call live via the provided link or dial in at 1-833-470-0145 using passcode 2954259.

For further details about Darden and its brand portfolio, visit www.darden.com.