Darden Restaurants, Inc. · NYSE:DRI
Darden Restaurants — Q1 2025 Earnings Presentation
22 slides from Darden Restaurants's earnings presentation, Sep 19, 2024
Slide 1: Earnings Call: Fiscal 2025 First Quarter Results
Earnings Call Fiscal 2025: First Quarter Results September 19, 2024
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: A full-service restaurant company with Back-To-Basics philosophy
A full-service restaurant company with … 1 Mission Be financially successful through great people consistently delivering outstanding food, drinks and service in an inviting atmosphere making every guest loyal. 4 Competitive Significant Scale Extensive Data & Insights Rigorous Strategic Planning Res
Slide 4: Steak Gorgonzola Alfredo Stuffed Chicken Marsala
Steak Gorgonzola Alfredo Stuffed Chicken Marsala 4
Slide 5: Lemon Garlic Chicken Dragonfruit Margarita
Lemon Garlic Chicken Dragonfruit Margarita 5
Slide 6: 6
6
Slide 7: Cheddar's Scratch Kitchen
Cheddar's Scratch Kitchen © Cheddars negates 973 e July 16-98 wy - Since you asked so nicely... THEY'RE BACK!! . Onion rings gone. So are we. Never be back again. ly Like Reply 408 .o Melinda McDonald THIS IS THE BEST NEWS EVER | l A) cokda | LUNCH SPEC TF
Slide 8: Service
JEDARDEN | @2 <<cixcion Bias) Sheddas Gi) eee Stirs Be RESTAURANTS
Slide 9: Atmosphere
Atmosphere 'B = CAPITAL am ————— = ee =| SZ DARDEN | RESTAURANTS RUTH'S | 5 ("eiiitis) Cheddars EueVE "exe
Slide 10: Never Ending Pasta Bowl
Never Ending Pasta Bowl Elevates Brand Equity | Simple to Execute | Not at a Deep Discount 10
Slide 11: Digital Marketing
Digital Marketing ee A FRIED CHICKEN $ 12”
Slide 12: Enhances the guest experience, protects the team member experience
// Enhances the guest experience // Protects the team member experience // Strengthens and defends our competitive advantages // Protects our simple operating model 12
Slide 13: Thank You To Our Team Members
Thank You To Our Team Members 13
Slide 14: Fiscal 2025 First Quarter Financial Highlights
Fiscal 2025 First Quarter Financial Highlights $2.8 Billion 1.0% (1.1)% SAME-RESTAURANT SALES TOTAL SALES TOTAL SALES GROWTH GROWTH1 $392 Million $1.75 $338 Million ADJUSTED DILUTED NET EPS ADJUSTED EBITDA2 FROM CONTINUING CASH RETURN3 OPERATIONS2 1 Will not include Ruth's Chris Steak House until th
Slide 15: Margin Analysis vs. Prior Year
Margin Analysis vs. Prior Year As Reported As Adjusted1 Q1 2025 Q1 2025 Q1 2025 vs Q1 2024 (bps) ($ millions) ($ millions) % of Sales Favorable/(Unfavorable) Sales $2,757.0 $2,757.0 Food and Beverage $846.7 $846.7 30.7 % 50 Restaurant Labor $889.3 $889.3 32.3 % (20) Restaurant Expenses $458.2 $458.2
Slide 16: First Quarter Segment Performance
First Quarter Segment Performance1 Segment Sales ($ millions) Fine Dining Other Segment Profit Margin2 Fine Dining Other 1 From the date of acquisition forward, sales and profits from Ruth's Chris company-owned restaurants are included within the Fine Dining segment. Royalties from Ruth's Chris fran
Slide 17: Chuy's acquisition on track to close mid-October
// On-track to close mid-October pending Chuy's Shareholder approval // "Go-Shop" and regulatory waiting periods have expired // Financing secured to complete transaction // Expected to be neutral impact to adjusted net earnings per share in fiscal 2025 excluding acquisition and integration-related
Slide 18: Question & Answer Session
J. DARDEN RESTAURANTS Question & Answer Session
Slide 19: Additional Information
J. DARDEN RESTAURANTS Additional Information
Slide 20: Reiterating Fiscal 2025 Annual Outlook
Reiterating Fiscal 2025 Annual Outlook SALES DEVELOPMENT MARGIN Total Sales Restaurant Openings Total Inflation: ~3.0% $11.8 to $11.9 Billion 45 to 50 Commodities: ~2.0% Same-Restaurant Sales Capital Spending Effective Tax Rate Growth1 $550 to $600 Million Approximately 13.0% 1.0% to 2.0% Diluted Ea
Slide 21: Commodities Outlook – Second and Third Quarter
Commodities Outlook – Second and Third Quarter September - February FY2025 Spend by category Coverage Outlook Beef 25% 50% Low single digit inflation Dairy / Oil1 13% 40% Low single digit deflation Produce 12% 85% Flat Seafood 9% 90% Flat Chicken 8% 70% Mid single digit deflation Wheat2 7% 80% Low s
Slide 22: Reported to Adjusted Earnings Reconciliations
Reported to Adjusted Earnings Reconciliations Q1 2025 Q1 2024 Earnings Diluted Earnings Before Income Net Before Income Diluted 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