Darden Restaurants, Inc. · NYSE:DRI
Darden Restaurants — Q1 2027 Earnings Presentation
16 slides from Darden Restaurants's earnings presentation, Sep 24, 2026
Slide 1: Supplemental Materials: Fiscal 2027 First Quarter Results
Supplemental Materials Fiscal 2027: First Quarter Results September 24, 2026
Slide 2: Disclaimer/Non-GAAP Information
Disclaimer/Non-GAAP Information IMPORTANT NOTICE The following slides are part of a presentation by Darden Restaurants, Inc. (the "Company") and are intended to be viewed as part of that presentation (the "Presentation"). No representation is made that the Presentation is a complete description of t
Slide 3: Full-service restaurant company with a winning strategy
Full-service restaurant company Clear roadmap to grow our Strong commitment to disciplined with a winning strategy portfolio of iconic brands capital stewardship Category Outperformance │ History of Industry Durable Free Cash Flow │ Thoughtfully deploying Differentiated Brands │ Clear, unique value
Slide 4: Be financially successful through great people
Be financially successful through great people consistently delivering outstanding food, drinks and service in an inviting atmosphere making every guest loyal. Culinary Innovation Attentive Engaging Enabled by & Execution Service Atmosphere Our People Extensive Rigorous Quality of Significant Scale
Slide 5: Annual Target (Over Time)
Annual Target (Over Time) New Restaurant Growth 3% - 4% Same-Restaurant Sales 1.5% - 3.5% EAT Margin Expansion 0 - 20 bps Business Performance (EAT Growth) 6% - 10% Dividend Payout Ratio 50% - 60% Share Repurchase 1% - 2.5% Return of Cash 4% - 5% Total Shareholder Return 10% - 15% (EPS Growth + Divi
Slide 6: Ten-Year Average Annual Total Shareholder Return
Ten-Year Average Annual Total Shareholder Return Never Below 10% for Any 10-Fiscal Year Period as a Public Company 24% 18% 17% 17% 17% 17% 16% 16% 16% 14% 15% 14% 14% 14% 12% 12% 11% 11% 11% 11% 10% 10% 1995- 1996- 1997- 1998- 1999- 2000- 2001- 2002- 2003- 2004- 2005- 2006- 2007- 2008- 2009- 2010- 2
Slide 7: Financial Results
J DARDEN RESTAURANTS Financial Results
Slide 8: Fiscal 2027 First Quarter Financial Highlights
Fiscal 2027 First Quarter Financial Highlights $3.2 Billion 5.1% 3.2% COMPARABLE CALENDAR TOTAL SALES TOTAL SALES GROWTH SAME-RESTAURANT SALES GROWTH1 $464 Million $2.05 $406 Million DILUTED NET EPS FROM EBITDA2 CASH RETURN3 CONTINUING OPERATIONS 1 Quarter same-restaurant sales is a 13-week metric b
Slide 9: Margin Analysis vs. Prior Year
Margin Analysis vs. Prior Year Q1 2027 vs PY1 (bps) ($ millions) % of Sales Favorable/(Unfavorable) Sales $3,200.3 Food and Beverage $984.9 30.8 % (30) Restaurant Labor $1,028.9 32.2 % 30 Restaurant Expenses $530.5 16.6 % — Marketing Expenses $53.1 1.7 % — Restaurant-Level EBITDA $602.9 18.8 % 0 Pre
Slide 10: First Quarter Segment Performance
First Quarter Segment Performance Segment Sales ($ millions) Fine Dining Other Business .2% 9% $1,301 2 $1,330 10. $861 $776 3.6% 6.2% $304 $681 705 $287 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 Segment Profit Margin1 Fine Dining Other Business 20.6% 20.4% 17.4% 18.0% 16.1% 15
Slide 11: Reaffirm Fiscal 2027 Annual Outlook
Reaffirm Fiscal 2027 Annual Outlook SALES DEVELOPMENT MARGIN Total Sales Restaurant Openings Total Inflation $13.6 billion to $13.75 billion 75 to 80 approximately 3.0% Commodities: approx. 3.0% Same-Restaurant Sales Capital Spending Growth1 EBITDA2 approximately $875 million 2.5% to 3.5% $2.26 bill
Slide 12: Commodities Outlook - Second and Third Quarter
Commodities Outlook - Second and Third Quarter September - February FY2027 Spend by category Coverage Outlook Beef 29% 65% Low single digit inflation Dairy / Oil1 12% 65% Low single digit inflation Produce 12% 80% Low single digit inflation Seafood 8% 85% Mid single digit inflation Chicken 8% 100% F
Slide 13: Non-GAAP Information
J DARDEN RESTAURANTS Non-GAAP Information
Slide 14: Q1 Reported to Adjusted Earnings Reconciliations
Q1 Reported to Adjusted Earnings Reconciliations Q1 2027 Q1 2026 Earnings Diluted Earnings Diluted Before Income Net Before Income Net Income Tax Net Earnings Income Tax Net Earnings $ in millions, except EPS Tax Expense Earnings Per Share Tax Expense Earnings Per Share Reported Earnings from Contin
Slide 15: Fiscal 2027 EBITDA Outlook Reconciliation
Fiscal 2027 EBITDA Outlook Reconciliation1 Net Earnings from Continuing Operations $1.26 billion to $1.29 billion Interest, Net $0.21 billion $0.20 billion Income Tax Expense $0.19 billion $0.20 billion Depreciation and Amortization $0.60 billion $0.60 billion EBITDA $2.26 billion to $2.29 billion 1
Slide 16: Fiscal and Comparable Calendar Dates
Fiscal and Comparable Calendar Dates Same-Restaurant Sales Calculation Dates Fiscal Calendar Basis Comparable Calendar Basis Q1 June 1, 2026 - August 30, 2026 June 1, 2026 - August 30, 2026 vs. vs. May 26, 2025 - August 24, 2025 June 2, 2025 - August 31, 2025 Q2 August 31, 2026 - November 29, 2026 A