HighGravityDataDarden Restaurants — Dec 19, 2024 release
Fiscal 2025 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000940944-24-000078
Showing in the filing
Diluted net earnings per share from continuing operations, excluding approximately $47 million, pre-tax, of Chuy's transaction and integration related costs
“$9.40 to $9.60”
Period
FY2025
Measure
GAAP-tied
Source
Prose
All guidance in this release · 12
Quarterly cash dividend declared for FY2025
“$1.40 per share”
Quarterly cash dividend
“$1.40 per share”
Remaining share repurchase authorization
“$601 million”
Expected Chuy's transaction and integration … for FY2025
“approximately $47 million”
Total sales for FY2025
“approximately $12.1 billion”
Same-restaurant sales growth for FY2025
“approximately 1.5%”
New restaurant openings for FY2025
“50 to 55”
Total capital spending for FY2025
“approximately $650 million”
Total inflation for FY2025
“approximately 2.5%”
Effective tax rate for FY2025
“approximately 12.5%”
Weighted average diluted shares outstanding for FY2025
“Approximately 118 million”
Diluted net earnings per share from continui… for FY2025
“$9.40 to $9.60”
Exhibit 99.1 · the passage around this item
… earlier in the release
Reconciliation of Fiscal 2025 Reported to Adjusted Earnings Outlook 2025 Reported diluted net earnings per share from continuing operations $9.07 to $9.27 Chuy's transaction and integration related costs 0.40 0.40 Income tax expense (0.07) (0.07) Adjusted diluted net earnings per share from continuing operations $9.40 to $9.60 Darden Restaurants, Inc. Number of Company-Owned Restaurants 11/24/24 11/26/23 Olive Garden 925 912 LongHorn Steakhouse 580 566 Cheddar's Scratch Kitchen 181 182 Chuy's 104 — Yard House 88 87 Ruth's Chris Steak House 82 78 The Capital Grille 70 64 Seasons 52 45 44 Bahama Breeze 43 42 Eddie V's 30 31 The Capital Burger 4 4 Darden Continuing Operations 2,152 2,010 4 DARDEN RESTAURANTS, INC. CONSOLIDATED STATEMENTS OF EARNINGS (In millions, except per share data) (Unaudited) Three Months Ended Six Months Ended 11/24/2024 11/26/2023 11/24/2024 11/26/2023 Sales $ 2,890.0 $ 2,727.3 $ 5,647.0 $ 5,457.9 Costs and expenses: Food and beverage 872.8 845.8 1,719.5 1,696.8 Restaurant labor 926.8 880.9 1,816.1 1,756.2 Restaurant expenses 477.7 450.4 935.9 897.0 Marketing expenses 48.8 36.9 93.5 75.5 General and administrative expenses 144.1 114.8 270.5 268.1 Depreciation and amortization 127.7 112.5 249.2 222.3 Impairments and disposal of assets, net — 7.5 1.0 10.6 Total operating costs and expenses $ 2,597.9 $ 2,448.8 $ 5,085.7 $ 4,926.5 Operating income 292.1 278.5 561.3 531.4 Interest, net 46.2 37.1 83.3 66.8 Earnings
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.