Recap: Darden Restaurants Q2 Earnings

Shares of Darden Restaurants DRI decreased 2% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 33.93% year over year to $0.74, which beat the estimate of $0.71.

Revenue of $1,657,000,000 declined by 19.41% year over year, which missed the estimate of $1,680,000,000.

Guidance

Q3 EPS expected between $0.50 and $0.75.

Q3 revenue expected to be between $1,525,000,000 and $1,643,000,000.

Details Of The Call

Date: Dec 18, 2020

Time: 08:30 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1007/38874

Recent Stock Performance

52-week high: $125.96

Company's 52-week low was at $26.15

Price action over last quarter: Up 19.89%

Company Overview

Darden is one of the largest players in the $185 billion U.S. casual dining industry. Olive Garden (871 units), LongHorn (522), and Cheddar's Scratch Kitchen (165 company-owned units) are its core brands, while the smaller, faster-growing specialty restaurant group is made up of Yard House (80), The Capital Grille (59), Seasons 52 (43), Bahama Breeze (41), and Eddie V's (23). In November 2015, the company spun off selected real estate and restaurant assets into Four Corners Property Trust.