Categories AlphaGraphs, Consumer, Earnings

Darden Restaurants (DRI) Q4 profit and sales increase; comp sales up 4%

Darden Restaurants, Inc. (NYSE: DRI) announced financial results for the fourth quarter of 2023, reporting higher earnings and sales. The restaurant chain also provided guidance for fiscal 2024.

Darden Restaurants Q4 2023 earnings infographic

Net income increased to $315.1 million in the most recent quarter from $281.7 million a year earlier. On a per-share basis, May-quarter earnings moved up to $2.58 from $2.24 per share in the corresponding period of 2022.

At $2.77 billion, net sales were up 6% year-over-year in the fourth quarter. Same restaurant sales at Olive Garden and LongHorn Steakhouse increased by 4.4% and 7.1% respectively. Consolidated same-store sales growth was 4%.

“In addition to our Back-to-Basics Operating Philosophy driving strong execution in our restaurants, Darden’s Four Competitive Advantages of Significant Scale, Extensive Data & Insights, Rigorous Strategic Planning, and our Results-Oriented Culture continued to enable our brands to compete more effectively and provide even greater value to their guests,” said Rick Cardenas, chief executive officer of Darden.

Prior Performance

  • Darden Restaurants Q2 2023 earnings infographic
  • Darden-Restaurants-Q1-2023-Earnings-Infographic
  • Darden Restaurants Q4 2022 earnings infographic

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