Darden Restaurants (DRI - Free Report) reported $2.73 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 9.7%. EPS of $1.84 for the same period compares to $1.52 a year ago.
The reported revenue represents a surprise of -0.41% over the Zacks Consensus Estimate of $2.74 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +7.60%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Darden Restaurants performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Same-restaurant sales - LongHorn Steakhouse - YoY change: 4.9% compared to the 4.5% average estimate based on 10 analysts.
- Same-restaurant sales - Olive Garden - YoY change: 4.1% versus 2.4% estimated by 10 analysts on average.
- Company-owned restaurants - Olive Garden: 912 versus the nine-analyst average estimate of 910.
- Same-restaurant sales - Consolidated - YoY change: 2.8% versus the nine-analyst average estimate of 2.4%.
- Company-owned restaurants - LongHorn Steakhouse: 566 compared to the 566 average estimate based on nine analysts.
- Company-owned restaurants - Total: 2,010 compared to the 2,016 average estimate based on nine analysts.
- Same-restaurant sales - Other Business - YoY change: -1.1% versus 1.8% estimated by seven analysts on average.
- Same-restaurant sales - Fine Dining - YoY change: -1.7% versus -0.8% estimated by seven analysts on average.
- Sales- Olive Garden: $1.25 billion compared to the $1.21 billion average estimate based on five analysts. The reported number represents a change of +6.4% year over year.
- Sales- Other Business: $514.90 million versus the five-analyst average estimate of $532.54 million. The reported number represents a year-over-year change of +1.5%.
- Sales- Fine Dining: $318 million versus the five-analyst average estimate of $353.25 million. The reported number represents a year-over-year change of +57.4%.
- Sales- LongHorn Steakhouse: $643 million compared to the $638.04 million average estimate based on five analysts. The reported number represents a change of +7.1% year over year.
View all Key Company Metrics for Darden Restaurants here>>>Shares of Darden Restaurants have returned +4.8% over the past month versus the Zacks S&P 500 composite's +5.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Darden Restaurants (DRI - Free Report) reported $2.73 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 9.7%. EPS of $1.84 for the same period compares to $1.52 a year ago.
The reported revenue represents a surprise of -0.41% over the Zacks Consensus Estimate of $2.74 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +7.60%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Darden Restaurants performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Same-restaurant sales - LongHorn Steakhouse - YoY change: 4.9% compared to the 4.5% average estimate based on 10 analysts.
- Same-restaurant sales - Olive Garden - YoY change: 4.1% versus 2.4% estimated by 10 analysts on average.
- Company-owned restaurants - Olive Garden: 912 versus the nine-analyst average estimate of 910.
- Same-restaurant sales - Consolidated - YoY change: 2.8% versus the nine-analyst average estimate of 2.4%.
- Company-owned restaurants - LongHorn Steakhouse: 566 compared to the 566 average estimate based on nine analysts.
- Company-owned restaurants - Total: 2,010 compared to the 2,016 average estimate based on nine analysts.
- Same-restaurant sales - Other Business - YoY change: -1.1% versus 1.8% estimated by seven analysts on average.
- Same-restaurant sales - Fine Dining - YoY change: -1.7% versus -0.8% estimated by seven analysts on average.
- Sales- Olive Garden: $1.25 billion compared to the $1.21 billion average estimate based on five analysts. The reported number represents a change of +6.4% year over year.
- Sales- Other Business: $514.90 million versus the five-analyst average estimate of $532.54 million. The reported number represents a year-over-year change of +1.5%.
- Sales- Fine Dining: $318 million versus the five-analyst average estimate of $353.25 million. The reported number represents a year-over-year change of +57.4%.
- Sales- LongHorn Steakhouse: $643 million compared to the $638.04 million average estimate based on five analysts. The reported number represents a change of +7.1% year over year.
View all Key Company Metrics for Darden Restaurants here>>>Shares of Darden Restaurants have returned +4.8% over the past month versus the Zacks S&P 500 composite's +5.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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