$DRI (Darden Restaurants, Inc.)

$DRI {{ '2016-06-30T12:49:41+0000' | timeago}} • Webcast

Full-service restaurant company $DRI said its 4Q16 diluted net EPS from continuing operations was $1.10 both on a reported and adjusted basis. They were 8.9% higher than last year's adjusted diluted net EPS. Last year was a 14-week fiscal quarter and the 8.9% growth assumes a 13-week quarter last year.

$DRI {{ '2017-06-27T13:34:43+0000' | timeago}} • Webcast

$DRI commented that on the industry in general, it is seeing some weakness in Houston and New York City, but overall the company has not seen a lot of change in the competitive landscape. On the $AMZN's acquisition of $WFM, the company believes people still want to come to restaurants and the acquisition won't have a big impact on $DRI.

$DRI {{ '2017-06-27T13:14:18+0000' | timeago}} • Webcast

Replying to a question on EPS guidance for 2018 and if the company is assuming the $22-27MM in synergies to close in 2018, $DRI stated that it is assuming low single-digit millions to flow into 2018 and the rest to go in to 2019.

$DRI {{ '2017-06-27T12:09:19+0000' | timeago}} • Infographic

$DRI Darden Restaurants Earnings AlphaGraphic: Q4 2017 Highlights

$DRI {{ '2017-06-27T11:38:34+0000' | timeago}} • Announcement

$DRI repurchased approx. $15MM of its outstanding common stock in 4Q17. In the quarter, same-restaurant sales increased 3.3%, excluding Cheddar's Scratch Kitchen.

$DRI {{ '2017-06-27T11:33:35+0000' | timeago}} • Announcement

For FY18, $DRI expects total sales growth of 11.5-13.0%, with adjusted diluted EPS from continuing operations expected in the range of $4.38-4.50. The company also expects same-restaurant sales growth of 1-2% and new restaurant openings of 35-40 restaurants in FY18. CapEx is expected in the range of $400-450MM.

$DRI {{ '2017-06-27T11:28:38+0000' | timeago}} • Announcement

Orlando-based multi-brand restaurant operator $DRI reported a 10.68% decline in 4Q17 earnings, impacted by higher cost and expenses. Net earnings was $125.4MM or $0.99 per share, down from $140.4MM or $1.10 per share a year ago. Total sales was up 8.1% YoY to $1.93Bil. Excluding items, $DRI earned $1.18 per share.

$DRI {{ '2017-04-24T20:43:13+0000' | timeago}} • Announcement

$DRI closed purchase of Cheddar's Scratch Kitchen for $780MM in all-cash transaction from its stockholders including private equity firms L Catterton and Oak Investment Partners. $DRI also paid $10MM for certain Cheddar's transaction-related tax attributes and reimbursed its equityholders for pre-closing CapEx on new restaurants under development.

$DRI {{ '2017-03-28T14:48:43+0000' | timeago}} • Infographic

$DRI Darden Restaurants Earnings AlphaGraphics: Q3 2017 highlights

$DRI {{ '2017-03-28T14:05:52+0000' | timeago}} • Webcast

$DRI said Olive Garden did not open any restaurants in 2H16 and the company is opening a lot more restaurants in 2H17. $DRI expects to open more restaurants in 4Q17 than it opened at Olive Garden last year.

$DRI {{ '2017-03-28T13:26:10+0000' | timeago}} • Webcast

$DRI said Cheddar’s Scratch Kitchen has about 17% in restaurant EBITDA and $4.4MM of average unit volume. It currently has 25 franchises but the revenues are fairly immaterial to the overall revenues for Cheddar’s. Cheddar’s has a pipeline of about 3 restaurants in FY17 and 8 in FY18. $DRI is confident on Cheddar’s future growth.

$DRI {{ '2017-03-28T13:06:22+0000' | timeago}} • Webcast

In 2018, $DRI anticipates total Capex of between $360-400MM of which $150-175MM is related to gross new restaurant openings of between 30-35 and the remainder is related to approx. 100 Olive Garden remodels, ongoing restaurant upkeep, technology and other spending.

$DRI {{ '2017-03-28T13:00:05+0000' | timeago}} • Webcast

In 3Q17, $DRI’s flat segment profit margin for Olive Garden was below last year driven by marketing expense timing, utilities inflation and higher pre-opening expenses related to 3Q17 and 4Q17 openings versus none in 2H16. LongHorn Steakhouse segment profit margin was below last year driven by higher restaurant expenses.

$DRI {{ '2017-03-28T12:53:54+0000' | timeago}} • Webcast

During 3Q17, $DRI’s Olive Garden business achieved same-restaurant sales growth of 1.4%. LongHorn Steakhouse same-restaurant sales grew 0.2%. Same-restaurant sales for The Capital Grille grew 0.9% while for Eddie V’s, the growth was 4.7%. Seasons 52 saw growth of 0.8% and Bahama Breeze saw growth of 0.5%.

$DRI {{ '2017-03-27T21:56:48+0000' | timeago}} • Announcement

In 3Q17, $DRI's sales in Olive Garden grew 1.7% to $1.03Bil; that in LongHorn Steakhouse went up 2.1% to $434.3MM; and that in Fine Dining grew 5.3% to $153.7MM. However, sales from Other Business fell 0.2% to $255.6MM.

$DRI {{ '2017-03-27T21:49:19+0000' | timeago}} • Announcement

In FY17, $DRI expects net EPS between $3.95 and $4, reflecting an updated outlook for same-restaurant sales of approx 1.5%. In 3Q17, $DRI's same-restaurant sales increased 0.9%.

$DRI {{ '2017-03-27T21:44:02+0000' | timeago}} • Announcement

Multi-brand restaurant operator $DRI posted higher sales and earnings in 3Q17, riding on revenue growth in three of four segments. Sales edged up 1.6% to $1.88Bil. Meanwhile net earnings grew to $165.6MM, or $1.32 per share, from $105.8MM, or $0.82 per share in the year-ago quarter.

$DRI {{ '2017-03-27T20:47:51+0000' | timeago}} • Announcement

$DRI, which agreed to acquire Cheddar's Scratch Kitchen for $780MM, expects annualized pre-tax run rate synergies of $20-25MM by FY19 from this transaction. Total acquisition and integration-related expenses are expected to be approx. $25-35MM. Cheddar's CEO Ian Baines will remain as President of Cheddar's and will report to $DRI's CEO Gene Lee.

$DRI {{ '2017-03-27T20:42:08+0000' | timeago}} • Announcement

$DRI to acquire Cheddar's Scratch Kitchen for $780MM in an all-cash transaction from its stockholders, including private equity firms L Catterton and Oak Investment Partners. The deal is expected to add approx. $0.12 to $DRI's EPS in FY18, excluding any acquisition and integration-related expenses. The transaction is expected to close in 4Q17.

$DRI {{ '2017-03-22T20:17:47+0000' | timeago}} • Announcement

$DRI's BoD declared a regular quarterly cash dividend of $0.56 per share on its outstanding common stock. The dividend is payable on May 1, 2017 to shareholders of record on April 10, 2017.

$DRI {{ '2016-12-20T16:10:12+0000' | timeago}} • Infographic

$DRI Darden Restaurants Earnings AlphaGraph: Q2 2017 Highlights

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