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Darden Restaurants (DRI) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended August 2023, Darden Restaurants (DRI - Free Report) reported revenue of $2.73 billion, up 11.6% over the same period last year. EPS came in at $1.78, compared to $1.56 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.7 billion, representing a surprise of +0.98%. The company delivered an EPS surprise of +2.89%, with the consensus EPS estimate being $1.73.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 - Olive Garden - YoY change: 6.1% compared to the 5% average estimate based on 11 analysts.
Same-restaurant sales - LongHorn Steakhouse - YoY change: 8.1% compared to the 5.64% average estimate based on 11 analysts.
Company-owned restaurants - Total: 1998 versus 1989.79 estimated by 10 analysts on average.
Company-owned restaurants - Olive Garden: 906 versus 907.7 estimated by 10 analysts on average.
Company-owned restaurants - LongHorn Steakhouse: 562 compared to the 564.7 average estimate based on 10 analysts.
Same-restaurant sales - Consolidated - YoY change: 5% versus 3.9% estimated by nine analysts on average.
Same-restaurant sales - Fine Dining - YoY change: -2.8% versus the eight-analyst average estimate of -1.38%.
Same-restaurant sales - Other Business - YoY change: 1.7% versus the eight-analyst average estimate of 1.88%.
Sales- Olive Garden: $1.23 billion versus the five-analyst average estimate of $1.23 billion. The reported number represents a year-over-year change of +8.6%.
Sales- Other Business: $559.40 million versus the five-analyst average estimate of $555.05 million. The reported number represents a year-over-year change of +6.1%.
Sales- Fine Dining: $273.50 million versus $264.69 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +49.1% change.
Sales- LongHorn Steakhouse: $669.80 million compared to the $654.36 million average estimate based on five analysts. The reported number represents a change of +10.8% year over year.
Shares of Darden Restaurants have returned -4.4% over the past month versus the Zacks S&P 500 composite's +0.9% 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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Darden Restaurants (DRI) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended August 2023, Darden Restaurants (DRI - Free Report) reported revenue of $2.73 billion, up 11.6% over the same period last year. EPS came in at $1.78, compared to $1.56 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.7 billion, representing a surprise of +0.98%. The company delivered an EPS surprise of +2.89%, with the consensus EPS estimate being $1.73.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 - Olive Garden - YoY change: 6.1% compared to the 5% average estimate based on 11 analysts.
- Same-restaurant sales - LongHorn Steakhouse - YoY change: 8.1% compared to the 5.64% average estimate based on 11 analysts.
- Company-owned restaurants - Total: 1998 versus 1989.79 estimated by 10 analysts on average.
- Company-owned restaurants - Olive Garden: 906 versus 907.7 estimated by 10 analysts on average.
- Company-owned restaurants - LongHorn Steakhouse: 562 compared to the 564.7 average estimate based on 10 analysts.
- Same-restaurant sales - Consolidated - YoY change: 5% versus 3.9% estimated by nine analysts on average.
- Same-restaurant sales - Fine Dining - YoY change: -2.8% versus the eight-analyst average estimate of -1.38%.
- Same-restaurant sales - Other Business - YoY change: 1.7% versus the eight-analyst average estimate of 1.88%.
- Sales- Olive Garden: $1.23 billion versus the five-analyst average estimate of $1.23 billion. The reported number represents a year-over-year change of +8.6%.
- Sales- Other Business: $559.40 million versus the five-analyst average estimate of $555.05 million. The reported number represents a year-over-year change of +6.1%.
- Sales- Fine Dining: $273.50 million versus $264.69 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +49.1% change.
- Sales- LongHorn Steakhouse: $669.80 million compared to the $654.36 million average estimate based on five analysts. The reported number represents a change of +10.8% year over year.
View all Key Company Metrics for Darden Restaurants here>>>Shares of Darden Restaurants have returned -4.4% over the past month versus the Zacks S&P 500 composite's +0.9% 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.