Darden Restaurant (DRI) Q4 2021 Revenue

Takeaway order from Darden Restaurants Olive Garden location arranges photos in Tiskilwa, Illinois, USA

Daniel Acker | Bloomberg | Getty Images

Darden RestaurantThursday s reported that fourth-quarter same-store sales returned to near 2019 levels as the state lifted dietary restrictions.

The company also released its 2022 outlook, forecasting total annual sales to exceed pre-pandemic revenue.

The company’s stock fell less than 1% in pre-market transactions.

Based on an analyst survey by Refinitiv, the company reported:

  • Earnings per share: Adjusted $ 2.03 vs. Forecast $ 1.79
  • Revenue: $ 2.28 billion vs. $ 2.19 billion forecast

Olive Garden’s parent company reported fourth-quarter net income of $ 369 million ($ 2.79 per share), up from a loss of $ 479.7 million ($ 3.85 per share) in the year-ago quarter. did.

Excluding items, Darden earned $ 2.03 per share, above the $ 1.79 per share expected by analysts surveyed by Refinitiv.

Net sales It increased by 79.5% to $ 2.28 billion, exceeding the forecast of $ 2.19 billion. Throughout the company’s portfolio, same-store sales increased 90.4% year-over-year, down only 0.5% compared to two years ago.

Darden forecasts total sales in 2022 to increase from $ 9.2 billion to $ 9.5 billion, up 5% to 8% from pre-pandemic levels. This is based on the assumption that basically every location can be fully operational. The company forecasts same-store sales to increase 25% to 29% compared to 2021. We also forecast diluted net earnings per share from $ 7 to $ 7.50 from continuing operations.

The forecast is in line with Wall Street’s forecast. Analysts predicted earnings per share in 2022 of $ 7.21 for revenue of $ 9.22 billion.

Darden Restaurant (DRI) Q4 2021 Revenue

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