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Aug 27, 2023
Darden Q1 2024 Earnings Report
Reported first quarter results for fiscal year 2024.
Key Takeaways
Darden Restaurants reported an 11.6% increase in total sales, reaching $2.7 billion, driven by a 5.0% increase in blended same-restaurant sales and the addition of 77 company-owned Ruth's Chris Steak House restaurants and 46 other net new restaurants.
Total sales increased by 11.6% to $2.7 billion.
Blended same-restaurant sales increased by 5.0%.
Reported diluted net earnings per share were $1.60.
Adjusted diluted net earnings per share increased by 14.1% to $1.78, excluding Ruth's Chris transaction and integration related costs.
Revenue by Segment
Forward Guidance
The company reiterated all aspects of its full year financial outlook for fiscal 2024, culminating in adjusted diluted net earnings per share from continuing operations of $8.55 to $8.85, including Ruth's Chris operating results, but excluding approximately $55 million, pre-tax, of expected transaction and integration related costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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