Benzinga | Sep 24, 2020 07:18AM EDT

Darden Restaurants: Q1 Earnings Insights

Shares of Darden Restaurants (NYSE:DRI) decreased 2.2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share decreased 59.42% over the past year to $0.56, which may not compare to the estimate of $0.05.

Revenue of $1,527,000,000 declined by 28.44% year over year, which missed the estimate of $1,560,000,000.

Outlook

Darden Restaurants said it expects Q2 EPS of $0.65-$0.75 .

How To Listen To The Conference Call

Date: Sep 24, 2020

Time: 08:30 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1007/36843

Technicals

Company's 52-week high was at $124.01

52-week low: $26.15

Price action over last quarter: Up 22.71%

Company Overview

Darden is one of the largest players in the $185 billion U.S. casual dining industry. Olive Garden (868 units), LongHorn (522), and Cheddar's Scratch Kitchen (165 company-owned units) are its core brands, while the smaller, faster-growing specialty restaurant group is made up of Yard House (81), The Capital Grille (60), Seasons 52 (44), Bahama Breeze (41), and Eddie V's (23). In November 2015, the company spun off selected real estate and restaurant assets into Four Corners Property Trust.