Exhibit 99.1
drilogoa04.jpg
Darden Restaurants Reports Fiscal 2018 Fourth Quarter and Full Year Results;
Fourth Quarter Same-Restaurant Sales Growth of 2.2%;
Increases Quarterly Dividend 19% to $0.75;
And Provides Fiscal 2019 Outlook

ORLANDO (June 21, 2018) - Darden Restaurants, Inc., (NYSE:DRI) today reported its financial results for the fourth quarter and fiscal year ended May 27, 2018.
 
Fourth Quarter 2018 Financial Highlights Versus Same Fiscal Quarter Last Year
Total sales from continuing operations increased 10.3% to $2.13 billion
Blended same-restaurant sales from Darden's legacy brands increased 2.2%
 
+2.4% for Olive Garden
 
+2.6% for The Capital Grille
 
+1.4% for Yard House
 
+2.4% for LongHorn Steakhouse
 
+3.6% for Eddie V’s
 
+0.4% for Seasons 52
 
 
 
 
 
+0.6% for Bahama Breeze
Same-restaurant sales for Cheddar's Scratch Kitchen were -4.7%
Reported diluted net earnings per share from continuing operations increased 41.4% to $1.40
Adjusted diluted net earnings per share from continuing operations increased 17.8% to $1.39*
Repurchased approximately $27 million of outstanding common stock
* See the "Non-GAAP Information" below for more details

“Our solid fourth quarter results concluded another strong year of performance as we executed our back-to-basics operating philosophy and strengthened our competitive advantages,” said CEO Gene Lee. “Our strategy remains unchanged, and our operators’ consistent focus on being brilliant with the basics has allowed us to continue building guest loyalty while taking market share.”

Fourth Quarter 2018 Adjustments to Earnings Per Share*
Reported diluted net earnings per share from continuing operations for the fourth quarter were $0.01 higher than adjusted diluted net earnings per share from continuing operations due to the following performance adjustments:
• +$0.02 related to the net benefit of deferred tax revaluation; and
• ($0.01) for Cheddar's integration costs
* See the "Non-GAAP Information" below for more details

Fiscal 2018 Financial Highlights Versus Fiscal 2017
Total sales from continuing operations increased 12.7% to $8.08 billion
Blended same-restaurant sales from Darden's legacy brands increased 2.3%
 
+2.4% for Olive Garden
 
+2.8% for The Capital Grille
 
+1.1% for Yard House
 
+2.7% for LongHorn Steakhouse
 
+4.1% for Eddie V’s
 
-0.6% for Seasons 52
 
 
 
 
 
+1.1% for Bahama Breeze
Same-restaurant sales for Cheddar's Scratch Kitchen were -2.0%
Reported diluted net earnings per share from continuing operations increased 25.1% to $4.79
Adjusted diluted net earnings per share from continuing operations increased 19.7% to $4.81*
Repurchased approximately $235 million of outstanding common stock
* See the "Non-GAAP Information" below for more details

Fiscal 2018 Adjustments to Earnings Per Share*
Reported diluted net earnings per share from continuing operations for fiscal 2018 were $0.02 lower than
adjusted diluted net earnings per share from continuing operations due to the following performance adjustments:
• ($0.54) for debt retirement costs;
• +$0.62 related to the net benefit of deferred tax revaluation; and

1

The following information was filed by Darden Restaurants Inc (DRI) on Thursday, June 21, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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