17 Sep

What Are Analysts Expecting from Darden’s Fiscal Q1 2019 Revenue?

WRITTEN BY Ralph Nathan FEATURED IN Pre-Release Earnings Reports

Fiscal first-quarter expectations

For the fiscal first quarter of 2019, analysts expect Darden Restaurants (DRI) to post revenue of $2.03 billion, a rise of 5.0% from $1.94 billion in the corresponding quarter of the previous year.

This revenue growth will likely be driven by the addition of new restaurants and positive SSSG (same-store sales growth).

What Are Analysts Expecting from Darden’s Fiscal Q1 2019 Revenue?

Compared to its fiscal first quarter of 2018, Darden operated nine more Olive Garden restaurants, 13 more LongHorn Steakhouse restaurants, 15 more Cheddar’s Scratch Kitchen restaurants, four more Yard House restaurants, two more Capital Grille restaurants, one more Bahama Breeze restaurant, and one more Eddie V’s restaurant at the end of the fiscal fourth quarter of 2019.

To drive its SSSG, Darden is focusing on the enhancement of the guest experience, the simplification of its menu items, off-premises sales, and various marketing initiatives.

Peer comparison

During the same period, Texas Roadhouse (TXRH), Bloomin’ Brands (BLMN), and Brinker International (EAT) posted revenue movements of 11.1%, -0.1%, and 0.8%, respectively.

Outlook

For fiscal 2019, Darden’s management expects its revenue to rise in the range of 4.0%–5.0% with systemwide SSSG in the range of 1.0%–2.0%. It also expects to open 45–50 new restaurants.

Analysts expect Darden to post revenue of $8.46 billion in fiscal 2019, a rise of 4.7% from the revenue of $8.08 billion it posted in fiscal 2018.

Next, we’ll look at analysts’ EPS expectations.

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