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| Darden Restaurants
Earnings Call |
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Darden Restaurants, Inc, Earnings Call, Third Quarter 2009
20th March 2009 00:00 AM |
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| Net earnings from continuing operations were $108.1 million or 80 cents per diluted share, a 6% decrease compared to 85 cents in the same period last |
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| The restaurant firm sales from continuing operations declined 0.7% to $1.8 billion, compared to $1.81 billion same quarter last year. Sales for Olive Garden, Red Lobster and LongHorn Steakhouse were down 3.2%, compared to an estimated 6.5% decline in the Knapp-Track(TM) casual dining benchmark. |
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Darden Restaurants Earnings Call, First Quarter 2009
2nd October 2008 00:00 AM |
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| The company reported a 21% drop in net earnings, due to weakening economic and consumer dynamics. |
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| Revenue rose to $1.77 billion from $1.47 billion a year ago. The incremental sales from Longhorn Steakhouse and The Capital Grille totaled $270 million. Excluding the acquisition, sales growth would have been 2.5%. Darden expects combined fiscal 2009 U.S. same-restaurant sales growth of up to 1 % for Red Lobster, Olive Garden and LongHorn Steakhouse, and to open 75 to 80 net new restaurants. |
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Darden Restaurants Earnings Call, Fourth Quarter 2008
8th July 2008 00:00 AM |
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| The company brands produced competitively superior results and outperformed the industry with strong performance from Olive Garden. |
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| The restaurant company reported Q4 sales from continuing of $1.83 billion versus $1.46 billion in the year ago quarter. The sales increase was fueled by sales from LongHorn Steakhouse and The Capital Grille brands and strong new and same-restaurant sales growth at Olive Garden. The Q4 diluted net earnings per share from continuing operations increased 7% to 72 cents versus 67 cents in the fourth quarter fiscal 2007. The company expects to open about 75 to 80 net new restaurants in fiscal 2009. |
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Darden Restaurants Third Quarter Earnings Call
28th March 2008 00:00 AM |
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| The company declared a quarterly dividend of 18 cents per share, as its brands continue to outperform industry results in a difficult environment. |
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| The world’s largest full service restaurant company reported sales increase of 25% from $1.45 billion in the year ago quarter to $1.81 billion in the current year quarter. This was due to the addition of LongHorn Steakhouse and The Capital Grille as well as strong new and same-restaurant sales growth in Olive Garden. The quarter EPS, including discontinued operations, were 88 cents versus 72 cents last year quarter. The management expects net EPS growth of 2% to 4% in the fiscal year 2008. |
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Darden Restaurants Second Quarter Earnings Call
21st December 2007 00:00 AM |
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| Profit dropped 30% to $43.5 million due to charges and higher costs for food, beverages and labor. |
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| Darden Restaurants reported revenue increase of 17% to $1.52 billion, almost in line with expectations of $1.54 billion. Earnings were hurt by integration and purchase accounting adjustments related to its acquisition of Rare Hospitality Inc. Olive Garden U.S. same-store sales grew 3.2% while Red Lobster''s same-store sales grew 0.1%.Costs of sales jumped 20%, led by a 22% hike in food and beverage expenses. Food and beverage costs are expected to be approximately 30% of sales in fiscal 2008. |
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Darden Restaurants First Quarter Earnings Call
27th September 2007 00:00 AM |
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| Profit increased 20% to $105.9 million on strong same-store sales growth at its Olive Garden and Red Lobster locations. |
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| The restaurant chain operator’s revenue increased 7.9% to $1.47 billion from $1.36 billion last year. Same-store sales at the company''s U.S. Red Lobster restaurants rose 7%, while U.S. Olive Garden same-store sales rose 4.8 %t. Darden''s board of directors declared a quarterly cash dividend of 18 cents per share on the outstanding common stock, payable on Nov. 1, 2007. Darden still projects fiscal 2008 earnings-per-share growth of 10% to 12%, which implies a per-share profit of $2.78 to $2.83. |
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Darden Restaurants Fourth Quarter Earnings Call
18th July 2007 00:00 AM |
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| The net loss was $55.1 million or 38 cents per share as against net earnings of $92.3 million or 60 cents per share in prior year. |
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| The operator of restaurant chain operator has reported revenue of $1.46 billion, up 3% from $1.41 billion in the prior year quarter. The quarterly results included losses of $1.05 per share related to the closure of 54 Smokey Bones and 2 Rocky River Grillhouse restaurants. The company repurchased 1.1 million shares during the quarter and will pay a quarterly dividend of 18 cents per share. For fiscal 2008, the firm expects diluted EPS growth from continuing operations of 10% to 12%. |
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