Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


Last $70.31 USD
Change Today +0.09 / 0.13%
Volume 1.5M
DRI On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

darden restaurants inc (DRI) Key Developments

Darden Restaurants, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended May 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016; Plans to Open 18 to 22 Restaurants in the Fiscal Year 2016

Darden Restaurants, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended May 31, 2015. For the quarter, the company’s sales were $1,878.3 million compared to $1,650.1 million a year ago. Operating income was $150.5 million compared to $69.5 million a year ago. Earnings before income taxes were $126.5 million compared to $33.9 million a year ago. Earnings from continuing operations were $118.1 million compared to $48.4 million a year ago. Net earnings were $105.3 million compared to $86.5 million a year ago. Earnings from continuing operations per diluted share were $0.92 compared to $0.36 a year ago. Net earnings per diluted share were $0.82 compared to $0.65 a year ago. Adjusted earnings from continuing operations per diluted share were $1.08 compared to $0.54 a year ago. For the year, the company’s sales were $6,764.0 million compared to $6,285.6 million a year ago. Operating income was $367.6 million compared to $308.9 million a year ago. Earnings before income taxes were $175.3 million compared to $174.6 million a year ago. Earnings from continuing operations were $196.4 million compared to $83.2 million a year ago. Net earnings were $709.5 million compared to $286.2 million a year ago. Earnings from continuing operations per diluted share were $1.51 compared to $1.38 a year ago. Net earnings per diluted share were $5.47 compared to $2.15 a year ago. Loss from discontinued operations, net of tax was $513.1 million compared to $103.0 million a year ago. Net cash provided by operating activities of continuing operations was $874.3 million compared to $555.4 million a year ago. Cash used in purchases of land, buildings and equipment was $296.5 million compared to $414.8 million a year ago. Adjusted earnings from continuing operations per diluted share were $2.63 compared to $1.71 a year ago. The company provided earnings guidance for the full year 2016. For the year, the company expects same-restaurant sales growth of 2.0% to 2.5%, adjusted earnings per diluted share growth were approximately 20% to 25%, resulting in adjusted earnings per diluted share of $3.05 to $3.20, annual tax rate of 21% to 24% and total capital spending of $230 million to $255 million. The company expects new unit openings of 18 to 22 restaurants in the fiscal year 2016.

Darden Restaurants To Sell Properties

Darden Restaurants, Inc. (NYSE:DRI) is seeking to separate a portion of the real estate assets. The separation would be achieved through a combination of selected sale leaseback transactions and the transfer of a portion of its remaining real estate assets to a new real estate investment trust that will be separated by a spin-off, split-off or similar transaction, resulting in the REIT becoming an independent, publicly-traded company. Darden will transfer approximately 430 of its owned restaurant properties to the REIT. In addition, Darden has been marketing selected properties for individual sale leasebacks and expects to close most of these transactions by the end of August. In addition, Darden is seeking to sell and lease back its Orlando Restaurant Support Center property and buildings under a long-term contract with multiple renewal options. After receiving proceeds from the completion of the strategic real estate plan, the Company expects to retire approximately $1 billion of its debt over time. JPMorgan Chase & Co. (NYSE:JPM) and Moelis & Company (NYSE:MC) acted as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Darden Restaurants.

Darden Restaurants, Inc. Declares Regular Quarterly Dividend, Payable on August 3, 2015

The board of directors of Darden Restaurants, Inc. declared a regular quarterly cash dividend of $0.55 per share on the company's outstanding common stock. The dividend is payable on August 3, 2015 to shareholders of record at the close of business on July 10, 2015.

Darden Restaurants, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended February 22, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2015

Darden Restaurants, Inc. reported earnings results for the third quarter and nine months ended February 22, 2015. For the quarter, the company reported net earnings of $133.8 million, or $1.05 per diluted share, compared to $109.7 million, or $0.82 per diluted share, for the same quarter ended February 23, 2014. Sales were $1.73 billion, compared to $1.62 billion for the same quarter ended February 23, 2014. For the nine months, net earnings were $604.2 million, or $4.64 per diluted share, compared to $199.7 million, or $1.50 per diluted share, for the same period ended February 23, 2014. Sales were $4.88 billion, compared to $4.63 billion for the same period ended February 23, 2014. For the fourth quarter of fiscal 2015, the company expects earnings per diluted share to be in the range of $0.91 to $0.94. For fiscal 2015, the company expects adjusted earnings per diluted share to be in the range of $2.45 to $2.48.

Krispy Kreme to Open 11 New Shops in Arkansas, Montana, Illinois and Kentucky

Krispy Kreme Doughnuts, Inc. has signed development agreements to open 11 Krispy Kreme shops in Arkansas, Montana, Illinois and Kentucky. The agreement with Mark Boyd, President of Sweet Treat Holdings, includes a minimum of four shops to open throughout Montana. Boyd also has extensive QSR experience as a former longtime franchisee with KFC and Burger King. Finally, the agreement with Rodney Cabaness, President of Hungry Guys, LLC, includes three shops to open in Marion, Ill. and Paducah, Ky. In addition to his other business ventures, including owning a Harley Davidson dealership and a real estate investment company, Cabaness has partnered with Eric Schneider to head operations. Schneider has 26 years of restaurant experience with Darden Restaurants.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
DRI:US $70.31 USD +0.09

DRI Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Bloomin' Brands Inc $22.00 USD +0.36
Brinker International Inc $57.54 USD -0.39
Cracker Barrel Old Country Store Inc $150.89 USD -0.68
Elior €18.18 EUR -0.075
Mitchells & Butlers PLC 452.00 GBp -4.20
View Industry Companies
 

Industry Analysis

DRI

Industry Average

Valuation DRI Industry Range
Price/Earnings 46.4x
Price/Sales 1.3x
Price/Book 3.8x
Price/Cash Flow 8.6x
TEV/Sales 1.0x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact DARDEN RESTAURANTS INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.