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Darden Restaurants (DRI) Reports Q4 Earnings: What Key Metrics Have to Say
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For the quarter ended May 2023, Darden Restaurants (DRI - Free Report) reported revenue of $2.77 billion, up 6.4% over the same period last year. EPS came in at $2.58, compared to $2.24 in the year-ago quarter.
The reported revenue represents a surprise of +0.06% over the Zacks Consensus Estimate of $2.77 billion. With the consensus EPS estimate being $2.53, the EPS surprise was +1.98%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 - Olive Garden - YoY change: 4.4% versus 4.7% estimated by 10 analysts on average.
Same-restaurant sales - LongHorn Steakhouse - YoY change: 7.1% versus 4.69% estimated by 10 analysts on average.
Same-restaurant sales - Fine Dining - YoY change: -1.9% compared to the 1.92% average estimate based on nine analysts.
Same-restaurant sales - Other Business - YoY change: 2.2% versus the nine-analyst average estimate of 2.6%.
Company-owned restaurants - Olive Garden: 905 versus 903.25 estimated by eight analysts on average.
Same-restaurant sales - Consolidated - YoY change: 4% versus the eight-analyst average estimate of 4.19%.
Company-owned restaurants - LongHorn Steakhouse: 562 versus the eight-analyst average estimate of 563.
Company-owned restaurants - Total: 1914 versus the seven-analyst average estimate of 1917.86.
Sales- Olive Garden: $1.27 billion versus the four-analyst average estimate of $1.27 billion. The reported number represents a year-over-year change of +6.3%.
Sales- Other Business: $578.30 million versus the four-analyst average estimate of $568.22 million. The reported number represents a year-over-year change of +4.9%.
Sales- Fine Dining: $209.80 million compared to the $222.38 million average estimate based on four analysts. The reported number represents a change of -0.3% year over year.
Sales- LongHorn Steakhouse: $711.70 million versus $699.67 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10% change.
Shares of Darden Restaurants have returned +6.2% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Darden Restaurants (DRI) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended May 2023, Darden Restaurants (DRI - Free Report) reported revenue of $2.77 billion, up 6.4% over the same period last year. EPS came in at $2.58, compared to $2.24 in the year-ago quarter.
The reported revenue represents a surprise of +0.06% over the Zacks Consensus Estimate of $2.77 billion. With the consensus EPS estimate being $2.53, the EPS surprise was +1.98%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 - Olive Garden - YoY change: 4.4% versus 4.7% estimated by 10 analysts on average.
- Same-restaurant sales - LongHorn Steakhouse - YoY change: 7.1% versus 4.69% estimated by 10 analysts on average.
- Same-restaurant sales - Fine Dining - YoY change: -1.9% compared to the 1.92% average estimate based on nine analysts.
- Same-restaurant sales - Other Business - YoY change: 2.2% versus the nine-analyst average estimate of 2.6%.
- Company-owned restaurants - Olive Garden: 905 versus 903.25 estimated by eight analysts on average.
- Same-restaurant sales - Consolidated - YoY change: 4% versus the eight-analyst average estimate of 4.19%.
- Company-owned restaurants - LongHorn Steakhouse: 562 versus the eight-analyst average estimate of 563.
- Company-owned restaurants - Total: 1914 versus the seven-analyst average estimate of 1917.86.
- Sales- Olive Garden: $1.27 billion versus the four-analyst average estimate of $1.27 billion. The reported number represents a year-over-year change of +6.3%.
- Sales- Other Business: $578.30 million versus the four-analyst average estimate of $568.22 million. The reported number represents a year-over-year change of +4.9%.
- Sales- Fine Dining: $209.80 million compared to the $222.38 million average estimate based on four analysts. The reported number represents a change of -0.3% year over year.
- Sales- LongHorn Steakhouse: $711.70 million versus $699.67 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10% change.
View all Key Company Metrics for Darden Restaurants here>>>Shares of Darden Restaurants have returned +6.2% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.