Darden Restaurants, Inc. (DRI) Earnings
Darden Restaurants, Inc. is expected to report next earnings on June 25, 2026 (in NaN days), with a consensus EPS estimate of $3.63. DRI has beaten EPS estimates in 4 of its last 12 reported quarters (average surprise -0.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Mar 19, 2026 | $2.94 | $2.95 | +0.3% | $3.3B | +0.3% |
| Dec 18, 2025 | $2.10 | $2.08 | -1.0% | $3.1B | +0.9% |
| Sep 18, 2025 | $2.00 | $1.97 | -1.5% | $3.0B | +0.1% |
| Jun 20, 2025 | $2.97 | $2.98 | +0.3% | $3.3B | +0.3% |
| Mar 20, 2025 | $2.80 | $2.80 | +0.0% | $3.2B | -1.8% |
| Dec 19, 2024 | $2.02 | $2.03 | +0.5% | $2.9B | +0.7% |
| Sep 19, 2024 | $1.83 | $1.75 | -4.4% | $2.8B | -1.5% |
| Jun 20, 2024 | $2.61 | $2.65 | +1.5% | $3.0B | -0.5% |
| Mar 21, 2024 | $2.62 | $2.62 | +0.0% | $3.0B | -1.6% |
| Dec 15, 2023 | $1.74 | $1.84 | +5.7% | $2.7B | -10.4% |
| Sep 21, 2023 | $1.74 | $1.78 | +2.3% | $2.7B | +0.9% |
| Jun 22, 2023 | $2.54 | $2.58 | +1.6% | $2.8B | +0.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · March 19, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Strong quarter with $3.3 billion total sales, 5.9% higher than last year, driven by 4.2% same-restaurant sales growth. • Outperforming industry same-restaurant sales, with each of four largest brands exceeding industry by over 400 basis points. • All segments had positive same-restaurant sales, high team member and manager retention. • Olive Garden had 3.2% same-restaurant sales growth, completed lighter portion menu rollout, record Valentine's Day sales. • Longhorn had 7.2% same-restaurant sales growth, recognized as best place to work by Glassdoor. • Fine dining segment had 2.1% same-restaurant sales growth, private dining sales growth. • Other business segment had 3.9% same-restaurant sales growth, strong performance at Yard House, Cheddar's maintained affordability ranking
Guidance
• Fiscal 2026 total sales growth expected ~9.5%, same-restaurant sales growth ~4.5%, ~70 new restaurant openings, commodities inflation ~4%, effective tax rate ~12.5%, adjusted diluted net earnings per share $10.57 - $10.67 including ~25 cents from 53rd week. • Fourth quarter total sales growth 13% - 14.5% (including extra week), same-restaurant sales growth 3.5% - 5%, adjusted diluted net earnings per share $3.59 - $3.69. • Fiscal 2027 expect 75 - 80 new restaurants plus converting 14 Bahama Breeze locations, ~$850 million capital spend, effective tax rate ~13.5%, total interest expense ~$200 million
Segment performance
Olive Garden: Total sales increased by 4.7%, driven by same-restaurant sales growth of 3.2% and 17 net new restaurants. Segment profit margin was 23%, 10 basis points below last year. Longhorn: Total sales increased 11.2%, driven by same-restaurant sales growth of 7.2% and 22 net new restaurants. Segment profit margin was 18.6%. Fine dining segment: Total sales increased 4.3%, driven by positive same-restaurant sales of 2.1% and 2 net new restaurants. Segment profit margin was 22%, 50 basis points lower than last year. Other business segment: Sales increased 3.2%, driven by positive same-restaurant sales of 3.9% and partial offset by permanent closure of Bahama Breeze restaurants. Segment profit margin was 15.6%, flat to last year
Analyst Q&A
Q: Brian Bittner on same store sales guidance and ability to lap tougher comparisons.
A: Raj Vinam and Rick Cardenas discuss drivers of growth, initiatives, and that they've shown ability to achieve commitments.
Q: David Palmer on same-store sales growth gap between Longhorn and Olive Garden.
A: Rick Cardenas explains Longhorn's focus on quality, pricing, traffic growth, and that gaps fluctuate.
Q: Lauren Zimmerman on gas prices impact and Q4 guide.
A: Rick Cardenas says gas prices don't strongly correlate with restaurant spending, and Q4 guide range reflects uncertainty.
Q: Christine Cho on prices, locked-in rates, and lighter portion menu at Olive Garden.
A: Rick Cardenas and Raj Vinam discuss pricing, locked-in rates, and positive trends in lighter portion menu.
Q: Chris Carroll on marketing expense and fine dining segment.
A: Raj Vinam and Rick Cardenas talk about marketing expense and fine dining segment performance.
Q: Sarah Senator on price and mix.
A: Raj Vinam provides details on price and mix for different brands.
Q: John Tower on Olive Garden delivery and lighter fare opportunity.
A: Rick Cardenas and Raj Vinam discuss Olive Garden delivery and potential for lighter fare in other brands.
Q: Brian Harbor on income cohort and fine dining.
A: Rick Cardenas discusses income cohort growth and fine dining segment growth.
Q: Jeffrey Bernstein on fiscal 26 guidance and EPS.
A: Raj Vinam explains fiscal 26 guidance and EPS.
Q: Jim Solero on beef demand destruction and traffic.
A: Rick Cardenas and Raj Vinam discuss beef demand and traffic drivers.
Q: Andrew Charles on Olive Garden catering and Bahama Breeze conversions.
A: Rick Cardenas talks about Olive Garden catering and Bahama Breeze conversions.
Q: David Tarantino on commodity cost outlook.
A: Raj Vinam discusses commodity cost outlook.
Q: Danilo Gordrillo on turnover rate and labor productivity.
A: Rick Cardenas discusses turnover rate and labor productivity.
Q: Gregory Frankfurt on AI tools.
A: Rick Cardenas talks about AI tools and their use.
Q: Jeff Farmer on off-premise mix.
A: Raj Vinam and Rick Cardenas discuss off-premise mix.
Q: Dennis Cocker on tax rebates.
A: Raj Vinam talks about tax rebates.
Q: Andrew Strelzyk on commodity inflation and new units.
A: Raj Vinam discusses commodity inflation and new unit growth.
Q: Johnny Blanco on operational excellence and AI.
A: Rick Cardenas talks about operational excellence and AI.
Q: Brian Vaccaro on casual dining segment gap and G&A.
A: Rick Cardenas and Raj Vinam discuss casual dining segment gap and G&A