Darden Restaurants, Inc. · NYSE:DRI
Darden Restaurants — Q2 2026 Earnings Presentation
16 slides from Darden Restaurants's earnings presentation, Dec 18, 2025
Slide 1: Earnings Call: Fiscal 2026 Second Quarter Results
Earnings Call Fiscal 2026: Second Quarter Results December 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: Fiscal 2026 Second Quarter Financial Highlights
Fiscal 2026 Second Quarter Financial Highlights $3.1 Billion 7.3% 4.3% SAME-RESTAURANT SALES TOTAL SALES TOTAL SALES GROWTH GROWTH1 $466 Million $2.08 $396 Million ADJUSTED DILUTED NET EPS ADJUSTED EBITDA2 FROM CONTINUING CASH RETURN3 OPERATIONS2 1 Will not include Chuy's until they have been owned
Slide 5: Margin Analysis vs. Prior Year
Margin Analysis vs. Prior Year As Reported As Adjusted1 Q2 2026 Q2 2026 Q2 2026 vs Q2 2025 (bps) ($ millions) ($ millions) % of Sales Favorable/(Unfavorable) Sales $3,102.1 $3,102.1 Food and Beverage $963.7 $963.7 31.1 % (90) Restaurant Labor $1,000.1 $1,000.1 32.2 % (10) Restaurant Expenses $508.3
Slide 6: Second Quarter Segment Performance
Second Quarter Segment Performance1 Segment Sales ($ millions) Fine Dining Other Business Segment Profit Margin2 Fine Dining Other Business 1 From the date of acquisition forward, sales and profits from Chuy's company-owned restaurants are included within the Other Business segment. 2 Segment profit
Slide 7: Updating Fiscal 2026 Annual Outlook
Updating Fiscal 2026 Annual Outlook SALES DEVELOPMENT MARGIN Total Sales Growth1 Restaurant Openings Total Inflation: approx. 3.5% 8.5% to 9.3% 65 to 70 Commodities: 4.0% - 5.0% Same-Restaurant Sales Capital Spending Effective Tax Rate Growth2 $750 to $775 million approximately 13.0% 3.5% to 4.3% Ad
Slide 8: A Full-Service Restaurant Company with ...
A Full-Service Restaurant Company with ... // A Winning Strategy // A Clear Roadmap to Grow Our Portfolio of Iconic Brands // A Strong Commitment to Disciplined Capital Stewardship Performance-Driven Leadership: Best-in-Class Operations • Experienced Management Team • Incentives Aligned with Shareho
Slide 9: Joe R. Lee
JOE R. LEE Darden's First CEO from 1995 to 2004 9
Slide 10: Question & Answer Session
J DARDEN RESTAURANTS Question & Answer Session
Slide 11: Additional Information
J DARDEN RESTAURANTS Additional Information
Slide 12: Long-Term Framework
Long-Term Framework 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
Slide 13: Prices vary by market
DARDEN RESTAURANTS LIGHTER PORTION ENTREES All entrées come with our NEVER-ENDING FIRST COURSE of soup or salad and breadsticks Chicken Parmigiana A classic with our homemade marinara and a side of spaghetti 0cat 1399 Eggplant Parmigiana \) Hand-breaded, lightly fried and served with a side of spagh
Slide 14: Commodities Outlook - Back Half
Commodities Outlook - Back Half December - May FY2026 Spend by category Coverage Outlook Beef 25% 45% Low double digit inflation Dairy / Oil1 13% 45% High single digit deflation Produce 12% 90% Low single digit inflation Seafood 8% 75% Low double digit inflation Chicken 8% 100% Low single digit infl
Slide 15: Reported to Adjusted Earnings Reconciliations
Reported to Adjusted Earnings Reconciliations Q2 2026 Q2 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 16: Reported to Adjusted Earnings Outlook Reconciliation
Reported to Adjusted Earnings Outlook Reconciliation 2026 Reported diluted net earnings per share from continuing operations $ 10.62 to $ 10.82 Chuy's transaction and integration related costs $ 0.06 $ 0.06 Closed restaurants1 $ 0.08 $ 0.08 Gain on Olive Garden Canada sale $ (0.26) $ (0.26) Adjusted