Recap: Darden Restaurants Q3 Earnings

Shares of Darden Restaurants DRI moved higher by 0.5% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 47.89% over the past year to $0.99, which beat the estimate of $0.69.

Revenue of $1,733,000,000 declined by 26.16% from the same period last year, which beat the estimate of $1,630,000,000.

Outlook

Q4 EPS expected to be between $1.60 and $1.70.

Q4 revenue expected between $2,100,000,000 and $2,100,000,000.

Details Of The Call

Date: Mar 25, 2021

Time: 08:30 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1007/40153

Technicals

Company's 52-week high was at $147.93

52-week low: $43.11

Price action over last quarter: Up 15.28%

Company Overview

Darden is one of the largest players in the $185 billion U.S. casual dining industry. Olive Garden (874 units), LongHorn (527), and Cheddar's Scratch Kitchen (168 company-owned units) are its core brands, while the smaller, faster-growing specialty restaurant group is made up of Yard House (81), The Capital Grille (60), Seasons 52 (43), Bahama Breeze (41), and Eddie V's (24). In November 2015, the company spun off selected real estate and restaurant assets into Four Corners Property Trust.