Darden reports Q3 sales $2.45B (+41.3% YoY), EPS $1.93 vs $0.98; updates FY22 outlook

DARDEN RESTAURANTS INC

2022-Q3 EPS reported $5.16 revenue$7,027,100,000

Total sales $2.45B (+41.3% YoY); diluted EPS $1.93 vs $0.98; blended same-restaurant sales +38.1%.
Olive Garden same-restaurant sales +29.9%, LongHorn +31.6%, Fine Dining +85.8%.
Declared quarterly dividend $1.10/share; repurchased 2.7M shares for $382M in Q3.
Updated FY22 outlook: sales $9.55-$9.62B, EPS $7.30-$7.45; capex ~$425M.
New CEO Ricardo Cardenas effective May 30; base salary $1M, target bonus 150%, equity grant $5M.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Ricardo Cardenas

President and Chief Executive Officer

DRI · DARDEN RESTAURANTS INC

Effective: 2022-05-30
Filed: March 24, 2022, 7:59 PM ET

the Company announced that Mr. Ricardo Cardenas, the Company’s current President and Chief Operating Officer, was appointed by the Board of Directors of the Company (the Board) to serve as President and Chief Executive Officer of the Company effective May 30, 2022.

Role change

Eugene I. Lee, Jr.

Executive Chairman

DRI · DARDEN RESTAURANTS INC

Effective: 2022-05-30
Successor: Ricardo Cardenas
Filed: March 24, 2022, 7:59 PM ET

the Company also announced that Mr. Eugene I. Lee, Jr. would retire as Chief Executive Officer effective May 29, 2022 and was appointed by the Board to serve as Executive Chairman of the Company effective May 30, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ricardo Cardenas was appointed as President and Chief Executive Officer at DARDEN RESTAURANTS INC.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

the Company announced that Mr. Ricardo Cardenas, the Company’s current President and Chief Operating Officer, was appointed by the Board of Directors of the Company (the Board) to serve as President and Chief Executive Officer of the Company effective May 30, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Eugene I. Lee, Jr. was appointed as Executive Chairman at DARDEN RESTAURANTS INC.

Action: appointed
Role: Executive Chairman

Exact text from the filing

the Company also announced that Mr. Eugene I. Lee, Jr. would retire as Chief Executive Officer effective May 29, 2022 and was appointed by the Board to serve as Executive Chairman of the Company effective May 30, 2022.

View on SEC.gov

DARDEN RESTAURANTS INC filing history →

Source: SEC EDGAR

accession 0000940944-22-000014

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.