Darden Restaurants Reports on 2019 Financial Results

07/03/2019

On June 21st, Darden Restaurants Inc. (DRI) reported on financial results for FY 2019 ending May 26th. The company reported sales of $8.51 billion, a 5.3 percent increase over FY 2018. This  was due to 39 new restaurants and an increase in same-store sales of 2.5 percent. Diluted net earnings per share increased 19.6 percent to $5.73.

In providing guidance for 2020, management projected increase in sales of 5.3 to 6.3 percent and same-restaurant sales growth of between 1 and 2 percent. The company will spend up to $500 million in capital expenditure for 50 new stores. Diluted net earnings per share will be in the range of $6.30 to $6.45.

Darden Restaurants operates the Olive Garden, LongHorn Steakhouse and the Capital Grill among other brands. The company employs 185,000 in 1,700 restaurants serving 390 million guests annually.

On release of results, Darden Restaurants advanced 2.2 percent to close at $121.23. The 52-week range in share price is $95.83 to $125.33. The company has a market cap of $14.91 billion with a trailing P/E of 21.3. The trailing 12-month return on assets is 9.4 percent and 31.3 percent on             equity. Darden attained an operating margin of 10.0 percent and a profit margin of 8.4 percent in FY 2019.


















































































































































































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