Darden Restaurants, Inc. · NYSE:DRI
Darden Restaurants — Q1 2026 Earnings Presentation
25 slides from Darden Restaurants's earnings presentation, Sep 18, 2025
Slide 1: Earnings Call: Fiscal 2026 First Quarter Results
Earnings Call Fiscal 2026: First Quarter Results September 18, 2025
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: Brilliant with the Basics
Be financially successful through great people consistently delivering outstanding food, drinks and service in an inviting atmosphere making every guest loyal. Brilliant with the Basics Culinary Innovation Attentive Engaging Enabled by Our & Execution Service Atmosphere People Extensive Data & Rigor
Slide 4: Olive Garden menu promotions
mein «~s 7 8 BN Ne) Create Your Own Calabrian Steak & w/Spicy 3-Meat Sauce Shrimp Bucatini JX DARDEN | % aie RESTAURANTS
Slide 5: Uber Direct Delivery
Uber Direct Delivery Get your FREE DELIVE. MILLION! vith coe: OGDEUIVERS DELIVERIES! “sith code OooeLvERS FIRST MILLION ORDERS DELIVERY IS FREE For a limited time, we're giving away FREE delivery fee to the first million ‘orders with code OGDELIVERS! Now ZEDARDEN. | ES <fancuon RESTAURANTS
Slide 6: Lighter Portion Entrees
LIGHTER PORTION ENTREES All es come with our NEVER-ENDING FIRST COURSE of soup or sala: id breads! Chicken Parmigiana A.classic with our homemade marinara and a side of spaghetti 630 cal 1399 Eggplant Parmigiana \) Hand-breaded, lightly fried and served with a side of spaghetti, 660 cal 1299 Lasagna
Slide 7: Ranked #1 by consumers ...
Technomic Ranked #1 by consumers ... 7
Slide 8: Great Food, Classic Rock
GREAT FOOD * CLASSIC ROCK Yard House > Beer-Battered Fish EDARDEN | 8S —cftuioy (Biitis| Cheddars Gili RESTAURANTS STEAKHOUSE.
Slide 9: The Ultimate Bartender Championship
2.6 oe BESTSTAP? My THE ULTIMATE BARTENDER y ATG CHAMPIONSHIP aE H a i os DARDEN. | ones —<fonguony CTanitoas) ["Eiiig) © Cheddars exrttay Pearmnte Eddie Vo Bocce ° RESTAURANTS Fone
Slide 10: Scratch Kitchen
SORATGH ~-<KLTCHEN SIRLOIN INH STARTING AT init JEDARDEN | QS <i <ai> (iis RESTAURANTS | = SoS 0} MTEARNOUBE
Slide 11: Uber Direct Delivery
Uber Direct Delivery NO DELIVERED Cheddar sc-nas Order delivery on Cheddars.com Now Delivering! Your faves, without leaving home. Same menu prices as in restaurant. ‘valobity &cevery umes wl vary by location. Delivery & cence fees arp Availabilty & delivery times wil vary by location Delivery 8 serv
Slide 12: 3-Course Menu
3-Course Menu STEAK HOUSE Zero guesswork. a Dens ces be drt Ruth's 3 Course for $55 Ruth's 3 Course for $55 ‘$55. Three reasons to staya See menu while. @ e@ ZEDARDEN | QE <<ftyaioe "eis, RESTAURANTS STEAKHOUSE
Slide 13: International / Franchising
International / Franchising Region Locations Continental US 63 Latin America 35 Hawaii, Puerto Rico, Guam 23 Asia 22 Canada 14 Middle East 4 Caribbean 2 13
Slide 14: Add event pictures featuring groups of GM/MPs
Add event pictures featuring groups of GM/MPs 14
Slide 15: Trucks Donated to Feeding America Food Banks Since January 2021
Over 50 Trucks Donated to Feeding America® Food Banks Since January 2021 15
Slide 16: Thank You To Our Team Members
Thank You To Our Team Members 16
Slide 17: Fiscal 2026 First Quarter Financial Highlights
Fiscal 2026 First Quarter Financial Highlights $3.0 Billion 10.4% 4.7% SAME-RESTAURANT SALES TOTAL SALES TOTAL SALES GROWTH GROWTH1 $439 Million $1.97 $358 Million ADJUSTED DILUTED NET EPS ADJUSTED EBITDA2 FROM CONTINUING CASH RETURN3 OPERATIONS2 1 Will not include Chuy's until they have been owned
Slide 18: Margin Analysis vs. Prior Year
Margin Analysis vs. Prior Year As Reported As Adjusted1 Q1 2026 Q1 2026 Q1 2026 vs Q1 2025 (bps) ($ millions) ($ millions) % of Sales Favorable/(Unfavorable) Sales $3,044.7 $3,044.7 Food and Beverage $929.1 $929.1 30.5 % 20 Restaurant Labor $988.0 $988.0 32.4 % (20) Restaurant Expenses $504.2 $504.2
Slide 19: First Quarter Segment Performance
First Quarter Segment Performance1 Segment Sales ($ millions) Fine Dining Other 7.6% $1,301 $1,209 2.7% $287 $681 8.8% $776 $279 .5% 22 $714 $556 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 Segment Profit Margin2 Fine Dining Other 20.7% 20.6% 18.0% 17.4% 15.2% 16.1% 13.9% 13.5% F
Slide 20: Updating Fiscal 2026 Annual Outlook
Updating Fiscal 2026 Annual Outlook SALES DEVELOPMENT MARGIN Total Sales Growth1 Restaurant Openings Total Inflation: 3.0% - 3.5% 7.5% to 8.5% approximately 65 Commodities: 3.0% - 4.0% Same-Restaurant Sales Capital Spending Effective Tax Rate Growth2 $700 to $750 million approximately 13.0% 2.5% to
Slide 21: Question & Answer Session
J DARDEN RESTAURANTS Question & Answer Session
Slide 22: Additional Information
J DARDEN RESTAURANTS Additional Information
Slide 23: Commodities Outlook - Second and Third Quarter
Commodities Outlook - Second and Third Quarter September - February FY2026 Spend by category Coverage Outlook Beef 25% 25% High single digit inflation Dairy / Oil1 13% 45% Low single digit deflation Produce 12% 80% Low single digit inflation Seafood 8% 90% High single digit inflation Chicken 8% 75%
Slide 24: Reported to Adjusted Earnings Reconciliations
Reported to Adjusted Earnings Reconciliations Q1 2026 Q1 2025 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 Continuin
Slide 25: Reported to Adjusted Earnings Outlook Reconciliation
Reported to Adjusted Earnings Outlook Reconciliation 2026 Reported diluted net earnings per share from continuing operations $ 10.64 to $ 10.84 Chuy's transaction and integration related costs $ 0.06 $ 0.06 Closed restaurants1 $ 0.06 $ 0.06 Gain on Olive Garden Canada sale $ (0.26) $ (0.26) Adjusted