Darden Restaurants, Inc. has recently released its 10-Q report, providing a detailed look at its financial performance. The company, based in Orlando, Florida, operates full-service restaurants in the United States and Canada under various brand names, including Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, and others.
In the latest financial report, Darden Restaurants reported total sales of $3.16 billion for the third quarter of fiscal 2025, marking a 6.2% increase from the same period in fiscal 2024. For the first nine months of fiscal 2025, total sales reached $8.81 billion, up 4.4% from the same period in fiscal 2024. The company's net earnings from continuing operations were $323.7 million for the third quarter and $747.0 million for the first nine months of fiscal 2025.
Darden Restaurants also provided an outlook for fiscal 2025, expecting sales to be approximately $12.1 billion, with same-restaurant sales growth of approximately 1.5% and 50 to 55 new restaurant openings. The company anticipates capital expenditures of approximately $650 million, including the addition of Chuy’s and expectations for its results from the date of acquisition forward.
The report also detailed sales by segment, with Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business showing varying levels of sales increases driven by factors such as same-restaurant sales, revenue from new restaurants, and average check increases.
Costs and expenses were also analyzed, with a breakdown of operating data as a percentage of sales for the periods indicated. The report highlighted changes in food and beverage costs, restaurant labor costs, restaurant expenses, marketing expenses, general and administrative expenses, depreciation and amortization expenses, and impairment and disposal of assets, net.
Interest expense, income taxes, and losses from discontinued operations were also covered in the report, providing insights into the company's financial performance and the factors influencing its results.
As a result of these announcements, the company's shares have moved 0.9% on the market, and are now trading at a price of $209.54. For more information, read the company's full 10-Q submission here.
