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May 29, 2022
Darden Q4 2022 Earnings Report
Darden Restaurants reported a strong fourth quarter driven by sales growth and same-restaurant sales increases, despite experiencing high inflation.
Key Takeaways
Darden Restaurants reported a 14.2% increase in total sales to $2.60 billion for the fourth quarter of fiscal year 2022. The company's blended same-restaurant sales increased by 11.7%. Reported diluted net earnings per share was $2.24.
Total sales increased 14.2% to $2.60 billion.
Blended same-restaurant sales increased 11.7%.
Reported diluted net earnings per share was $2.24.
The Board of Directors declared a quarterly cash dividend of $1.21 per share.
Darden
Darden
Darden Revenue by Segment
Revenue by Segment
Olive Garden Revenue
CapyFin.comLongHorn Steakhouse Revenue
CapyFin.comFine Dining Revenue
CapyFin.comOther Business Revenue
CapyFin.com Forward Guidance
Darden Restaurants provided its financial outlook for fiscal year 2023, including total sales of $10.2 to $10.4 billion and same-restaurant sales growth of 4% to 6%.
Positive Outlook
- Total sales of $10.2 to $10.4 billion
- Same-restaurant sales growth of 4% to 6%
- 55 to 60 new restaurant openings
- An effective tax rate of approximately 13.5%
- Diluted net earnings per share from continuing operations of $7.40 to $8.00
Challenges Ahead
- Total inflation of approximately 6%
- Total capital spending of $500 to $550 million
- Experiencing high inflation
- Challenging operating environment
- Impacts of the novel coronavirus (COVID-19) pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income