Thu, Jun. 30, 7:29 AM
- FQ4 same-restaurant sales up 2.6% Y/Y, includes 2.4% gain for Olive Garden, 3.7% for Capital Grille, 2.2% for LongHorn Steakhouse, 1.4% for Yard House, 2.7% for Eddie V's, 5% for Seasons 52, and 4.7% for Bahama Breeze.
- About 700K shares bought back during quarter for $45M. Another $315M remains under authorization.
- Fiscal 2017 outlook: Same-restaurant sales growth of 1-2%. EPS of $3.80-$3.90. Consensus is for $3.99.
- Conference call at 8:30 ET
- Previously: Darden Restaurants beats by $0.02, misses on revenue (June 30)
- DRI flat premarket
Tue, Apr. 19, 10:07 AM
- Restaurant stocks are skittish in early trading after Brinker International (EAT -6.5%) disappoints with traffic under pressure at Chili's.
- Decliners include DineEquity (DIN -1.9%), Yum Brands (YUM -0.7%), Darden Restaurants (DRI -2.1%). and Bloomin' Brands (BLMN -0.7%).
- Popeyes Louisiana Kitchen (PLKI -2.8%) is down after Cowen initiates coverage with a Marker Perform rating and $59 price target.
- Buffalo Wild Wings (BWLD -3.4%) is under pressure with OTR Global making noise about Q1 and Q2 trends.
- Investors with a positive view on the restaurant sector may be able to pick up The Restaurant ETF (NASDAQ:BITE) at a lower price today.
Dec. 18, 2015, 7:53 AM
- The board of directors at Darden Restaurant (NYSE:DRI) authorized a new $500M share buyback authorization. The $500M in buyback firepower reps 6.6% of the company's market cap.
- The buyback allowance has no expiration date.
- DRI +3.27% premarket to $60.30.
- Previously: Darden Restaurants beats by $0.12, misses on revenue (Dec. 18 2015)
- Previously: Tight expense control pays off at Darden Restaurants (Dec. 18 2015)
Dec. 18, 2015, 7:01 AM
- Darden Restaurants (NYSE:DRI): FQ2 EPS of $0.54 beats by $0.12.
- Revenue of $1.61B (+3.2% Y/Y) misses by $10M.
- Shares +1.54% PM.
Oct. 20, 2015, 1:00 PM
- Casual dining stocks trade lower after Brinker's International's Q3 report showed traffic weakness.
- Ignite Restaurant GRoup (IRG -1.4%), Texas Roadhouse TXRH, Darden Restaurants (DRI -2.5%), Buffalo Wild Wings (BWLD -1.8%), and Chuy's Holdings CHUY are some of the names showing the sharpest drops.
- The QSR sub-sector is having a better day with the Yum split and Sonic same-restaurant sales sizzler leading the way. Jack in the Box (JACK +1.8%) and Restaurant Brands International (QSR +1.1%) are notable gainers on a down market day.
Oct. 19, 2015, 9:00 AM
Sep. 22, 2015, 7:01 AM
- Darden Restaurants (NYSE:DRI): FQ1 EPS of $0.68 beats by $0.10.
- Revenue of $1.69B (+5.6% Y/Y) beats by $20M.
- Shares +1.13% PM.
Jun. 25, 2015, 11:02 AM
- Restaurant IPO names Bojangles (BOJA +1.7%), Wingstop (WING +2%), Shake Shack (SHAK +4.2%), and Habit Restaurants (HABT +2.1%) are all higher on momentum moves.
- Gains for Brinker International (EAT +2%) and Darden Restaurants (DRI +1.3%) are tied to business strategy decisions - a higher mix of company-owned restaurants for Brinker and a REIT plan for Darden.
- While the names above have all generated plenty of buzz this year, the list of top four stocks in the sector by share price return may surprise.
- YTD leaders: Papa Murphy's (NASDAQ:FRSH) +81.1%, Carrols Restaurant Group (NASDAQ:TAST) +40%, Dave & Buster's Entertainment (NASDAQ:PLAY) +35%, Chuy's Holdings (NASDAQ:CHUY) +32%.
- Previously: Darden Restaurants on the move again (Jun. 24 2015)
- Previously: Brinker International buys 103 Chili's restaurants (Jun. 25 2015)
Jun. 24, 2015, 2:21 PM
- Darden Restaurants (DRI +2.8%) trades higher as a wave of analysts reset expectations after the company's solid earnings report and REIT plan unveiling yesterday.
- BMO Capital Markets, Barclays, Deutsche Bank, and RBC Capital all lifted their PTs on the company.
- Previously: Profit jumps at Darden Restaurants as Starboard effect takes hold (June 23)
- Previously: REIT plan announced by Darden Restaurants (June 23)
Jun. 23, 2015, 9:16 AM
Jun. 23, 2015, 7:31 AM
- Darden Restaurants (NYSE:DRI) announces it will pursue a REIT separation of its business.
- The company plans to transfer ~430 of its company-owned restaurants to the REIT under a leaseback arrangement.
- Proceeds will go to retiring long-term debt.
- Previously: Darden Restaurants beats by $0.15, beats on revenue
- Previously: Profit jumps at Darden Restaurants as Starboard effect takes hold
- DRI +7.0% premarket.
Jun. 23, 2015, 7:24 AM
- Darden Restaurants (NYSE:DRI) reports same-restaurants sales increased 3.8% in FQ4.
- Comp growth by brand: Olive Garden +3.4%, Yard House +3.2%, LongHorn Steakhouse +5.2%, Seasons 52 +3.1%, The Capital Grille +4.4%, Bahama Breeze +1.7%, Eddie V's +5.2%.
- Total operating costs and expenses increased at a slower pace than sales, up 9.3% Y/Y to $1.7278B.
- The company saw profit increase at all four segments during the quarter.
- Guidance: Darden sees full-year EPS of $3.05-$3.20 vs. $2.88.
- Previously: Darden Restaurants beats by $0.15, beats on revenue
- DRI +7.1% premarket to $74.29.
Jun. 19, 2015, 10:09 AM
- KB Home CEO Jeffrey Mezger is confident of his company's ability to achieve "measurable year-over-year earnings growth in H2" after reporting new order growth of 33% in units and 38% in dollars in FQ2, and backlog growth of 39% in units and 57% in dollars.
- KB Home is up 6%, leading the ITB +1.4%, and XHB +0.8% even as the major averages slip.
- Toll Brothers (TOL +2.3%), Hovnanian (HOV +2.7%), Lennar (LEN +3%), Ryland (RYL +2%), D.R. Horton (DRI +2.5%), Pulte (PHM +2.5%)
- Previously: KB Home gains following earnings beat (June 19)
- Previously: KB Home beats by $0.02, beats on revenue (June 19)
Mar. 20, 2015, 7:15 AM
- Darden Restaurants (NYSE:DRI) reports a 3.2% rise in comparable-restaurant sales in FQ3 with strength seen across its brands on increased pricing and traffic.
- Comparable-restaurant growth by brand: Olive Garden +2.2%, Longhorn Steakhouse +5.4%, Yard House +5.4%, The Capital Grille +6.1%, Seasons 52 +5.2%, Bahama Breeze +3.2%, Eddie V's +9.6%.
- Food and beverage costs +9.3% to $530.7M. SG&A expenses -13% to $134.2M.
- Guidance: FQ4 EPS of $0.91-$0.94 expected vs. $0.89 consensus.
- DRI +1.62% premarket to $65.92.
Feb. 24, 2015, 10:53 AM
- Restaurant stocks are out-performing market averages again as more chains report improved comparable-restaurant sales growth.
- The read on Q1 is that pricing and traffic trends are strong, despite what some broad measures of overall consumer confidence show.
- The $2 gas benefit is believed by analysts to have had a greater impact on restaurant spending than other areas of retail.
- Gainers include Luby's (LUB +4.9%), Cosi (COSI +5.4%), Rave Restaurant Group (RAVE +4.5%), Texas Roadhouse (TXRH +2.4%), Krispy Kreme Dougnuts (KKD +2.8%), Popeyes Louisian Kitchen (PLKI +1.7%), Bob Evans Farms (BOBE +1.1%), Darden Restaurants (DRI +1.4%).
- Even McDonald's (MCD +0.8%), which trailed the Q4 comp average in the sector by a wide margin, is out ahead of the S&P 500.
- Previously: Cracker Barrel +4.1% after traffic accelerates and guidance lifted
Dec. 16, 2014, 4:34 PM
- Guidance: Fiscal 2015 adjusted EPS is expected to increase 32-35% from 2014 to $2.25-$2.30 per share (previous bottom end was $2.22).
- Buybacks: In FQ2, company took receipt of about 8.6M shares as first installment of the $500M accelerated share repurchase program. Since quarter's end, company has taken receipt of another 1.3M shares.
- Turning to FQ2 operations, comp store sales: Olive Garden +0.5%, LongHorn Steakhouse +2.6%, The Capital Grille +5%, Eddie V's +4.9%, Yard House +3.7%, Seasons 52 +1.2%, Bahama Breeze -0.6%.
- Previously: Darden Restaurants beats by $0.01, beats on revenue (Dec. 16, 2014)
- DRI +2% after hours
Darden Restaurants, Inc. engages in the provision of restaurant services. The company's restaurant brands include Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House. The Olive Garden brand is a full service dining Italian restaurant... More
Country: United States
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