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Here's What Key Metrics Tell Us About Darden Restaurants (DRI) Q2 Earnings
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Darden Restaurants (DRI - Free Report) reported $2.73 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 9.7%. EPS of $1.84 for the same period compares to $1.52 a year ago.
The reported revenue represents a surprise of -0.41% over the Zacks Consensus Estimate of $2.74 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +7.60%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 - LongHorn Steakhouse - YoY change: 4.9% compared to the 4.5% average estimate based on 10 analysts.
Same-restaurant sales - Olive Garden - YoY change: 4.1% versus 2.4% estimated by 10 analysts on average.
Company-owned restaurants - Olive Garden: 912 versus the nine-analyst average estimate of 910.
Same-restaurant sales - Consolidated - YoY change: 2.8% versus the nine-analyst average estimate of 2.4%.
Company-owned restaurants - LongHorn Steakhouse: 566 compared to the 566 average estimate based on nine analysts.
Company-owned restaurants - Total: 2,010 compared to the 2,016 average estimate based on nine analysts.
Same-restaurant sales - Other Business - YoY change: -1.1% versus 1.8% estimated by seven analysts on average.
Same-restaurant sales - Fine Dining - YoY change: -1.7% versus -0.8% estimated by seven analysts on average.
Sales- Olive Garden: $1.25 billion compared to the $1.21 billion average estimate based on five analysts. The reported number represents a change of +6.4% year over year.
Sales- Other Business: $514.90 million versus the five-analyst average estimate of $532.54 million. The reported number represents a year-over-year change of +1.5%.
Sales- Fine Dining: $318 million versus the five-analyst average estimate of $353.25 million. The reported number represents a year-over-year change of +57.4%.
Sales- LongHorn Steakhouse: $643 million compared to the $638.04 million average estimate based on five analysts. The reported number represents a change of +7.1% year over year.
Shares of Darden Restaurants have returned +4.8% over the past month versus the Zacks S&P 500 composite's +5.2% 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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Here's What Key Metrics Tell Us About Darden Restaurants (DRI) Q2 Earnings
Darden Restaurants (DRI - Free Report) reported $2.73 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 9.7%. EPS of $1.84 for the same period compares to $1.52 a year ago.
The reported revenue represents a surprise of -0.41% over the Zacks Consensus Estimate of $2.74 billion. With the consensus EPS estimate being $1.71, the EPS surprise was +7.60%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 - LongHorn Steakhouse - YoY change: 4.9% compared to the 4.5% average estimate based on 10 analysts.
- Same-restaurant sales - Olive Garden - YoY change: 4.1% versus 2.4% estimated by 10 analysts on average.
- Company-owned restaurants - Olive Garden: 912 versus the nine-analyst average estimate of 910.
- Same-restaurant sales - Consolidated - YoY change: 2.8% versus the nine-analyst average estimate of 2.4%.
- Company-owned restaurants - LongHorn Steakhouse: 566 compared to the 566 average estimate based on nine analysts.
- Company-owned restaurants - Total: 2,010 compared to the 2,016 average estimate based on nine analysts.
- Same-restaurant sales - Other Business - YoY change: -1.1% versus 1.8% estimated by seven analysts on average.
- Same-restaurant sales - Fine Dining - YoY change: -1.7% versus -0.8% estimated by seven analysts on average.
- Sales- Olive Garden: $1.25 billion compared to the $1.21 billion average estimate based on five analysts. The reported number represents a change of +6.4% year over year.
- Sales- Other Business: $514.90 million versus the five-analyst average estimate of $532.54 million. The reported number represents a year-over-year change of +1.5%.
- Sales- Fine Dining: $318 million versus the five-analyst average estimate of $353.25 million. The reported number represents a year-over-year change of +57.4%.
- Sales- LongHorn Steakhouse: $643 million compared to the $638.04 million average estimate based on five analysts. The reported number represents a change of +7.1% year over year.
View all Key Company Metrics for Darden Restaurants here>>>Shares of Darden Restaurants have returned +4.8% over the past month versus the Zacks S&P 500 composite's +5.2% 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.