EXHIBIT 99.1


dardenlogoa39.jpg
Darden Restaurants Reports Fiscal 2019 Third Quarter Results;
Increases Financial Outlook For The Full Fiscal Year; And
Declares Regular Quarterly Dividend


ORLANDO, Fla., March 21, 2019 /PRNewswire/ --
Darden Restaurants, Inc., (NYSE:DRI) today reported its financial results for the third quarter ended February 24, 2019.
 
Third Quarter 2019 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year
Total sales increased 5.5% to $2.25 billion driven by the addition of 39 net new restaurants and a blended same-restaurant sales increase of 2.8%
Same-restaurant sales by brand:
 
+4.3% for Olive Garden
 
-2.7% for Cheddar's Scratch Kitchen
 
+3.8% for LongHorn Steakhouse
 
-2.1% for Yard House
 
+4.3% for The Capital Grille
 
-1.3% for Seasons 52
 
+3.7% for Eddie V’s
 
-3.7% for Bahama Breeze

Reported diluted net earnings per share from continuing operations increased 3.4% to $1.80 and increased 5.3% from last year's adjusted diluted net earnings per share*
The Company repurchased approximately $74 million of its outstanding common stock
* See "Non-GAAP Information" below for more details

"Our strong top-line results exceeded the industry this quarter resulting in significant market share gains," said CEO Gene Lee. “This sales performance, coupled with strong operating profit growth, is a testament to our strategy and the outstanding focus and execution by our restaurant teams who create exceptional dining experiences for our guests every day."

Segment Performance
Segment profit represents sales, less costs for food and beverage, restaurant labor, restaurant expenses and marketing expenses.
 
 
Q3 Sales
 
 
 
Q3 Segment Profit
 
 
($ in millions)
 
2019
 
2018
 
% Change

 
2019
 
2018
 
% Change

Consolidated Darden
 
$2,246.5
 
$2,128.4
 
5.5
%
 
 
 
 
 
 
Olive Garden
 
$1,130.2
 
$1,073.2
 
5.3
%
 
$247.0
 
$226.7
 
9.0
 %
LongHorn Steakhouse
 
$483.2
 
$452.8
 
6.7
%
 
$96.4
 
$89.9
 
7.2
 %
Fine Dining
 
$174.5
 
$164.4
 
6.1
%
 
$44.3
 
$40.3
 
9.9
 %
Other Business
 
$458.6
 
$438.0
 
4.7
%
 
$67.5
 
$65.5
 
3.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
YTD Sales
 
 
 
YTD Segment Profit
 
 
($ in millions)
 
2019
 
2018
 
% Change

 
2019
 
2018
 
% Change

Consolidated Darden
 
$6,281.3
 
$5,946.0
 
5.6
%
 
 
 
 
 
 
Olive Garden
 
$3,180.3
 
$3,014.6
 
5.5
%
 
$649.7
 
$593.4
 
9.5
 %
LongHorn Steakhouse
 
$1,326.2
 
$1,245.0
 
6.5
%
 
$232.5
 
$214.0
 
8.6
 %
Fine Dining
 
$451.2
 
$427.1
 
5.6
%
 
$94.5
 
$86.6
 
9.1
 %
Other Business
 
$1,323.6
 
$1,259.3
 
5.1
%
 
$181.6
 
$182.8
 
(0.7
)%

1

The following information was filed by Darden Restaurants Inc (DRI) on Thursday, March 21, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Darden Restaurants Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Darden Restaurants Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Log in with your credentials

or    

Forgot your details?

Create Account