Highest-materiality recent filing
Q4 same-restaurant sales +4.6% (Olive Garden +2.4%, LongHorn +9.5%); full-year +4.5%.
Darden Q3 sales up 5.9% to $3.3B; adjusted EPS $2.95, up 5.4%; raises FY outlook
Total sales $3.3B (+5.9% YoY); blended same-restaurant sales +4.2%.
Reported diluted EPS of $2.03; adjusted EPS of $2.08, up 2.5% YoY (excludes Chuy's transaction costs and restaurant closure costs).
Darden grants CEO $17M special PSU award linked to TSR; shareholder meeting results filed
CEO Ricardo Cardenas receives $17M target value performance stock units (PSUs) vesting July 24, 2030.
Darden Q1 sales +10.4%, adj. EPS $1.97 (+12.6%); updates FY2026 guidance to $10.50-$10.70
Total sales $3.04B (+10.4% YoY) on 4.7% same-restaurant sales growth and Chuy's acquisition.
Darden Q4 adj EPS $2.98 beats; dividend +7.1% to $1.50; $1B buyback; Olive Garden pres transition
Q4 total sales $3.3B (+10.6%); diluted adj EPS $2.98 (+12.5%), above expectations.
Darden Q3 sales up 6.2% to $3.2B; adjusted EPS $2.80 beats prior year by 6.9%
Same-restaurant sales: consolidated +0.7%, LongHorn +2.6%, Olive Garden +0.6%, Fine Dining -0.8%.
Darden Q2 FY2025 EPS $2.03 adj (up 10.3%); sales $2.9B (+6%); declares $1.40 dividend
Total sales $2.9B, up 6.0% YoY; blended same-restaurant sales +2.4%; LongHorn +7.5%, Fine Dining -5.8%.
Darden completes acquisition of Chuy's Holdings for ~$605M enterprise value
Chuy's stockholders receive $37.50 per share in all-cash transaction; aggregate consideration ~$660M.
Darden issues $750M senior notes (4.35%/4.55%) to fund Chuy's acquisition
Issued $400M 4.350% notes due 2027 and $350M 4.550% notes due 2029.
Darden Q1 FY2025 EPS $1.75 adj, sales $2.76B, reiterates FY2025 outlook
Reported diluted EPS $1.74; adjusted EPS $1.75 (excl. $0.01 Chuy's costs), down 1.7% YoY.
Replaced debt-to-capitalization covenant with max leverage ratio of 3.50x (4.00x after covered acquisition).
Darden to acquire Chuy's for $37.50/share all-cash; enterprise value ~$605M
Darden (DRI) will acquire Chuy's (CHUY) at $37.50/share, a 40% premium to 60-day VWAP.
Darden Q4 sales rise 6.8% to $3.0B; raises dividend 6.9%; FY2025 EPS guidance $9.40-$9.60
Total sales up 6.8% to $3.0B in Q4; FY sales $11.4B (+8.6%); same-restaurant sales flat in Q4.
Darden posts Q3 sales up 6.8% to $3.0B; adjusted EPS $2.62 (+12%); authorizes $1B buyback
Total sales $3.0B (+6.8% YoY); blended same-restaurant sales -1.0%; LongHorn +2.3%, Olive Garden -1.8%.
Darden Q2 sales $2.7B +9.7%, adj. EPS $1.84 +21.1%, declares $1.31 dividend
Total sales increased 9.7% to $2.7B; blended same-restaurant sales +2.8%; reported diluted EPS $1.76, adjusted $1.84 (+21.1% YoY).
Darden Q1 adj. EPS $1.78 +14.1%, sales $2.7B +11.6%, reiterates FY outlook, new board chair
Total sales $2.7B, +11.6% YoY; blended same-restaurant sales +5.0%.
Darden Q4 sales $2.8B (+6.4%), EPS $2.58 (+15.2%); raises dividend 8%; chairman to retire
Q4 diluted EPS $2.58, up 15.2% YoY; full-year EPS $8.00, up 8.1%
Darden completes $715M all-cash acquisition of Ruth's Hospitality Group
Darden acquired Ruth's Hospitality Group for $21.50/share cash; total consideration ~$715 million.
Darden Restaurants enters $600M term loan to fund Ruth's Hospitality acquisition
Entered $600M senior unsecured 3-year term loan, proceeds to finance pending acquisition of Ruth's Hospitality Group.
Darden to acquire Ruth's Chris for $21.50/share, ~$715M equity value
$21.50 per share all-cash; 34% premium to May 2 close, 32% premium to 30-day VWAP.
Darden Q3 sales $2.8B (+13.8%), EPS $2.34 (+21.2%), raises FY2023 EPS guidance to $7.85-8.00
Total sales $2.79B (+13.8% YoY); blended same-restaurant sales +11.7% (Olive Garden +12.3%, LongHorn +10.8%).
Darden Q2 sales up 9.4% to $2.49B; EPS $1.52; updates FY23 outlook $7.60-$8.00
Total sales $2.49B (+9.4%); blended same-restaurant sales +7.3%.
Darden Q1 EPS falls to $1.56 from $1.76; revenue up 6.1% to $2.4B; reaffirms FY2023 outlook
Diluted EPS of $1.56 vs $1.76 a year ago; revenue $2.4B (+6.1%).
Total sales $2.60B (+14.2%); same-restaurant sales +11.7%: Olive Garden +6.5%, LongHorn +10.6%, Fine Dining +34.5%.
Darden reports Q3 sales $2.45B (+41.3% YoY), EPS $1.93 vs $0.98; updates FY22 outlook
Total sales $2.45B (+41.3% YoY); diluted EPS $1.93 vs $0.98; blended same-restaurant sales +38.1%.
Total sales $2.27B (+37% YoY); diluted EPS $1.48 vs $0.74; EBITDA $335M.
Darden CEO Gene Lee to retire May 29, 2022; COO Rick Cardenas named successor
Eugene I. Lee, Jr. to retire as CEO effective May 29, 2022; will serve as Executive Chairman until 2022 annual meeting, then non-executive Chairman.
Darden Q1 sales $2.31B (+51%), EPS $1.76, raises FY2022 outlook, adds $750M buyback
Reported diluted EPS from continuing ops of $1.76 vs $0.28 last year; sales rose 51% to $2.31B.
the Company’s Board of Directors approved the appointment of John Wilkerson, currently the Company’s President, Cheddar’s Scratch Kitchen, to the office of President, Olive Garden, effective September 1, 2025.
Dan Kiernan, the Company’s President, Olive Garden, notified the Company of his intent to retire.
On January 27, 2025, Nana Mensah, a member of the Board of Directors (the “Board”) of Darden Restaurants, Inc. (the “Company”), notified the Company of his decision to retire from the Board effective January 28, 2025.
On April 2, 2024, the Board of Directors of Darden Restaurants, Inc. (the Company) approved the appointment of Todd A. Burrowes, currently the Company’s President, LongHorn Steakhouse, to the office of President, Business Development effective May 27, 2024.
On June 20, 2023, Eugene I. Lee, Jr., a director and Chairman of the Board of Directors of the Company (the Board), informed the Board that he will not stand for re-election to the Board at the Company’s 2023 annual meeting of shareholders and that he will retire from service as a director of the Company at the end of the 2023 annual meeting of shareholders, scheduled for September 20, 2023.
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.
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.
On March 22, 2022, the Board of Directors (the “Board”) of Darden Restaurants, Inc. (the “Company”) increased the number of directors of the Company from eight to nine, and elected Juliana L. Chugg to serve as a director, effective immediately
Eugene I. Lee, Jr., Chairman and Chief Executive Officer (CEO) of Darden Restaurants, Inc. (the Company), informed the Board of Directors (Board) of the Company of his intention to retire as CEO effective May 29, 2022.
the Board appointed President and Chief Operating Officer Ricardo Cardenas to serve as the Company’s President and CEO beginning on May 30, 2022.
the Board voted to increase the number of directors of the Company to nine and elected Mr. Cardenas as a director, all effective May 30, 2022.
Max materiality 0.85 · Median 0.75 · Most common event earnings