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Darden Restaurants, Inc. DRI reported weaker-than-expected first-quarter financial results on Thursday.
Andy Barish and Phil Kafarakis look at why Darden Restaurants (DRI) missed in earnings and how its partnership with Uber Technologies (UBER) can signal a road to rebound for the company. As Phil explains, "this is more about relief on operations and borrowing costs" for Darden.
Brian Nowak, managing director at Morgan Stanley, joins 'The Exchange' to discuss Darden's partnership with Uber for delivery, the Uber-Waymo partnership expansion, and more.
Darden reported weaker-than-expected earnings on Thursday, but it reaffirmed its full-year outlook and said sales have been improving.
Darden Restaurants (DRI) shares surged Thursday after the Olive Garden owner reported improving sales trends after a decline in July and announced a new delivery pilot with Uber (UBER).
Darden Restaurants faced a challenging quarter with both revenue and earnings missing estimates, but favorable annual guidance and improving sales trends are driving the stock rally. Comparable sales were down overall, but LongHorn Steakhouse showed strong performance with a 3.7% increase, while other segments like Olive Garden and fine dining struggled. Despite the misses, Darden's dividend yield of 3.0% and ongoing share repurchases, coupled with expected future dividend increases, make it a solid long-term hold.
Darden Restaurants (DRI) shares surged Thursday after the Olive Garden owner reported improving sales trends after a decline in July and announced a new delivery pilot with Uber (UBER).
Shares of Darden Restaurants Inc (NYSE:DRI) are up 7.3% at last glance today, trading at $170.77 after news that the Olive Garden parent is partnering with Uber Technologies (UBER) for delivery services.
The headline numbers for Darden Restaurants (DRI) give insight into how the company performed in the quarter ended August 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Darden Restaurants (DRI) came out with quarterly earnings of $1.75 per share, missing the Zacks Consensus Estimate of $1.81 per share. This compares to earnings of $1.78 per share a year ago.