Darden reports $3.2 billion in first-quarter sales, reaffirms fiscal 2027 EPS outlook

Darden Restaurants (NYSE: DRI) reported first-quarter fiscal 2027 sales of $3.2 billion and diluted earnings per share from continuing operations of $2.05 for the period ended Aug. 30, according to an earnings release furnished with a Form 8-K on Thursday. The company reaffirmed its full-year fiscal 2027 diluted EPS outlook from continuing operations of $11.10 to $11.35.

Total sales rose 5.1% from $3.04 billion a year earlier. Blended same-restaurant sales increased 3.1% on a fiscal calendar basis and 3.2% on a comparable calendar basis. President and CEO Rick Cardenas said in the release that each segment delivered positive same-restaurant sales.

Reported diluted EPS from continuing operations of $2.05 was up 4.1% from last year’s adjusted diluted EPS from continuing operations of $1.97. Last year’s reported diluted EPS from continuing operations was $2.19 before adjustments that included a gain on the Olive Garden Canada sale.

Same-restaurant sales by brand on a fiscal calendar basis were 1.1% at Olive Garden, 6.2% at LongHorn Steakhouse, 1.6% in Fine Dining, and 3.8% in Other Business. Darden said that because it is transitioning from a 53-week to a 52-week fiscal year, year-over-year fiscal comparisons are offset by one week, and it also reports comparable-calendar same-restaurant sales for a clearer comparison.

The board declared a quarterly dividend of $1.62 per share, payable Nov. 2, 2026 to shareholders of record Oct. 9, 2026. During the quarter, Darden repurchased about 1.1 million shares for $222.3 million, inclusive of the 1% excise tax on net repurchases. At quarter-end, $1.3 billion remained under the current $1.5 billion repurchase authorization.

By the numbers

• Sales: $3.20 billion (+5.1%)
• Diluted EPS from continuing operations: $2.05; +4.1% vs. year-ago adjusted $1.97
• Blended same-restaurant sales: +3.1% fiscal / +3.2% comparable calendar
• LongHorn comps: +6.2% fiscal; Olive Garden: +1.1% fiscal
• Dividend: $1.62; buybacks: ~1.1 million shares for $222.3 million
• FY2027 diluted EPS outlook: $11.10–$11.35 (reaffirmed)

Sources

1. Darden Restaurants Form 8-K, filed Sept. 24, 2026, accession 0000940944-26-000032
2. Exhibit 99.1 earnings release

This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.

Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.