DRI is a company that operates full-service dining establishments across North America, primarily in the U.S., managing several well-known restaurant brands . The company offers a diverse range of dining experiences through its various brands, selling food and beverages without reliance on any major customers . DRI organizes its operations into four main segments, each contributing to its overall business strategy and revenue generation .
- Olive Garden - Offers Italian cuisine with a focus on fresh ingredients and quality, significantly contributing to the company's revenue .
- LongHorn Steakhouse - Known for its steak and American West-inspired atmosphere, playing a major role in revenue generation .
- Fine Dining - Includes premium brands such as Ruth’s Chris, The Capital Grille, and Eddie V’s, providing upscale dining experiences .
- Other Business - Encompasses a variety of dining experiences with brands like Cheddar’s Scratch Kitchen, Yard House, Seasons 52, Bahama Breeze, and The Capital Burger .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Ricardo Cardenas ExecutiveBoard | President and CEO | Director at Tractor Supply Company | Joined DRI in 1984; held various roles including CFO and COO before becoming CEO in May 2022. | View Report → |
Daniel J. Kiernan Executive | President, Olive Garden | None | Joined Olive Garden in 1992; held various operational roles before becoming President in 2018. | |
Douglas J. Milanes Executive | Senior Vice President, Chief Supply Chain Officer | None | Joined DRI in 2013; previously SVP of Purchasing before becoming Chief Supply Chain Officer in 2015. | |
John W. Madonna Executive | Senior Vice President, Corporate Controller | None | Joined DRI in 2005; held various finance and reporting roles before becoming Corporate Controller in 2016. | |
Laura Williamson Executive | President, LongHorn Steakhouse | None | Joined DRI in 1997; previously SVP of Finance for Olive Garden and LongHorn Steakhouse before becoming President of LongHorn in May 2024. | |
M. John Martin Executive | President, Specialty Restaurant Group | None | Joined The Capital Grille in 1990; oversees multiple brands within the Specialty Restaurant Group since 2020. | |
Matthew R. Broad Executive | Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary | None | Joined DRI in 2015; oversees legal, compliance, and corporate governance functions. | |
Rajesh Vennam Executive | Senior Vice President, CFO | None | Joined DRI in 2003; previously served as Treasurer and SVP of Finance and Analytics before becoming CFO in December 2022. | |
Sarah H. King Executive | Senior Vice President, Chief People and Diversity Officer | None | Joined DRI in 2017; transitioned to Chief People and Diversity Officer in 2021. | |
Todd A. Burrowes Executive | President, Business Development | None | Joined DRI in 2002; previously served as President of LongHorn Steakhouse before transitioning to Business Development in May 2024. | |
Charles M. Sonsteby Board | Lead Independent Director | Director at Valvoline, Inc.. | Independent director since 2014; retired Vice Chairman of The Michaels Companies, Inc., with extensive experience in retail and financial management. | |
Cynthia T. Jamison Board | Chair of the Board | Chair of Big Lots, Inc.; Director at The ODP Corporation. | Independent director since 2014; financial expert with extensive experience in corporate governance and public company leadership. | |
Daryl Kenningham Board | Independent Director | President and CEO of Group 1 Automotive; Director at Group 1 Automotive and Greater Houston Partnership. | Appointed to DRI's Board in December 2024; extensive experience in automotive retail and financial management. | |
James P. Fogarty Board | Independent Director | None | Independent director since 2014; extensive experience in operational turnarounds and executive leadership at public and private companies. | |
Juliana L. Chugg Board | Independent Director | Director at VF Corporation and MasterBrand Inc.. | Appointed to DRI's Board in 2022; former EVP and Chief Brand Officer at Mattel, Inc., with extensive experience in global brand management. | |
Margaret Shán Atkins Board | Independent Director | Director at SpartanNash Company and Aurora Cannabis, Inc.. | Independent director since 2014; retired consumer and retail executive with expertise in strategic planning and financial management. | |
Timothy J. Wilmott Board | Independent Director | None | Independent director since 2018; former CEO of Penn National Gaming, Inc., with expertise in gaming and hospitality industries. | |
William S. Simon Board | Independent Director | Senior Advisor at KKR & Co.; President of WSS Venture Holdings, LLC; Non-Executive Chairman of HanesBrands Inc.. | Independent director since 2014; former President and CEO of Walmart U.S. with expertise in retail operations and consumer goods. |
- Given that you fell short of your expectations for the first quarter, can you elaborate on the specific factors that led to this underperformance and what corrective actions you're implementing to address them?
- With your focus on improving speed of service to meet the faster-paced needs of today's consumers, what specific operational changes are you making to accelerate service without compromising the guest experience, and how will you measure success in this area?
- Considering that many brands source a significant portion of their delivery sales from third-party marketplaces, why have you decided against offering Olive Garden on Uber's marketplace platform, and how do you plan to drive sufficient incremental sales through your first-party delivery to offset potential missed opportunities?
- In light of the challenges faced in the Fine Dining segment and decreased visits from aspirational consumers, what strategies are you employing to reinvigorate growth without diluting your brand, and how do you plan to attract new customers while retaining your discerning frequent diners?
- Despite spending below historical levels on marketing for Olive Garden, particularly in price-point advertising, why are you hesitant to increase marketing spend to apply more pressure on competitors, and how do you balance cost savings with the potential for driving incremental traffic through increased advertising investment?
Research analysts who have asked questions during DARDEN RESTAURANTS earnings calls.
Danilo Gargiulo
AllianceBernstein
7 questions for DRI
Jeffrey Bernstein
Barclays
7 questions for DRI
Lauren Silberman
Deutsche Bank
7 questions for DRI
Peter Saleh
BTIG
7 questions for DRI
David Tarantino
Robert W. Baird & Co.
6 questions for DRI
Dennis Geiger
UBS
6 questions for DRI
Jake Bartlett
Truist Securities
6 questions for DRI
Sara Senatore
Bank of America
6 questions for DRI
Brian Harbour
Morgan Stanley
5 questions for DRI
David Palmer
Evercore ISI
5 questions for DRI
Eric Gonzalez
KeyBanc Capital Markets
5 questions for DRI
Jon Tower
Citigroup
5 questions for DRI
Brian Vaccaro
Raymond James Financial, Inc.
4 questions for DRI
Gregory Francfort
Guggenheim Securities
4 questions for DRI
Jim Salera
Stephens Inc.
4 questions for DRI
Jim Sanderson
Northcoast Research
4 questions for DRI
John Ivankoe
JPMorgan Chase & Co.
4 questions for DRI
Jacob Aiken-Phillips
Melius Research
3 questions for DRI
Zach Ogden
TD Cowen
3 questions for DRI
Andrew Charles
TD Cowen
2 questions for DRI
Andrew Strelzik
BMO Capital Markets
2 questions for DRI
Brian Bittner
Oppenheimer & Co.
2 questions for DRI
Brian James Harbour
Morgan Stanley
2 questions for DRI
Brian Michael Vaccaro
Raymond James
2 questions for DRI
Chris O'cull
Stifel Financial Corp
2 questions for DRI
Christopher Thomas O'Cull
Stifel
2 questions for DRI
David Sterling Palmer
Evercore ISI
2 questions for DRI
Eric Andrew Gonzalez
KeyBanc Capital Markets
2 questions for DRI
James Salera
Stephens Inc.
2 questions for DRI
James Sanderson
Northcoast Research
2 questions for DRI
Jeffrey Farmer
Gordon Haskett Research Advisors
2 questions for DRI
John Ivanko
JPMorgan
2 questions for DRI
Andrew Barish
Jefferies
1 question for DRI
Christine Cho
Goldman Sachs Group
1 question for DRI
Christopher O'Cull
Stifel, Nicolaus & Company
1 question for DRI
Hyun Jin Cho
Goldman Sachs
1 question for DRI
John Tower
Citi
1 question for DRI
Katherine Griffin
Bank of America
1 question for DRI
Patrick Johnson
Stifel
1 question for DRI
Rahul Krotthapalli
JPMorgan Chase & Co.
1 question for DRI
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Chuy's Holdings, Inc. | 2024 | The acquisition was an all-cash transaction valued at approximately $605 million at a price of $37.50 per share, financed via senior notes (4.350% due 2027 and 4.550% due 2029). Strategically, the deal expands Darden's portfolio with Tex-Mex brands, expecting pre-tax synergies of about $15 million by fiscal 2026 with acquisition and integration costs of roughly $50–55 million. |
Ruth's Hospitality Group, Inc. | 2023 | Completed on June 14, 2023, the merger was executed at an equity value of approximately $715 million with a cash price of $21.50 per share, including a tender offer and subsequent merger via Ruby Acquisition Corporation. This acquisition strategically complements Darden’s portfolio by adding Ruth’s Chris Steak House and is expected to generate pre-tax synergies between $5–10 million in the first year and $15–20 million in the second, with integration-related costs estimated at $55–60 million. |
Recent press releases and 8-K filings for DRI.
- Same-restaurant sales grew 4.7%, adjusted diluted EPS was $1.97, adjusted EBITDA reached $439 million, and $358 million was returned to shareholders via $175 million in dividends and $183 million in share repurchases.
- Olive Garden comps +5.9% (Traffic +2.8%, Pricing +1.9%), with 20.6% segment margin, driven by menu innovation and delivery growth; LongHorn Steakhouse comps +5.5%, segment margin 17.4% despite beef cost pressures.
- Fiscal 2026 guidance was raised: Total sales +7.5–8.5%, same-restaurant sales +2.5–3.5%, ~65 new restaurants, 3–3.5% total inflation (commodities 3–4%), and EPS guidance $10.50–$10.70.
- Total sales up 10.4% to $3.0 billion in Q1 FY2026; blended same-restaurant sales grew 4.7% (Olive Garden +5.9%, LongHorn +5.5%)
- Reported diluted EPS from continuing operations of $2.19; adjusted diluted EPS of $1.97, a 12.6% increase
- Repurchased $183 million of common stock, with $865 million remaining under the current authorization
- Declared a quarterly cash dividend of $1.50 per share, payable November 3, 2025
- Updated FY 2026 outlook: total sales growth of 7.5%–8.5%, same-restaurant sales growth of 2.5%–3.5%, and adjusted diluted EPS of $10.50–$10.70
- Q4 2025: Total sales reached $3.3B (+10.6% YoY) with same-restaurant sales up 4.6%, delivering diluted EPS of $2.58 and adjusted EPS of $2.98.
- FY2025: Total sales increased 6.0% to $12.1B, with reported diluted EPS of $8.88 and adjusted EPS of $9.55.
- Restaurant performance was strong with an EBITDA margin of 21.6% (+50 bps YoY) and F&B margin of 30.1%; key segments like Olive Garden ($1,381M, +8.1% YoY, margin 23.8%) and Longhorn Steakhouse ($834M, +9.3% YoY, margin 20.1%) drove results.
- Shares rose over 2% to an all-time high as the Board raised the quarterly dividend 7.1% to $1.50/share, repurchased $51M in Q4, and authorized a new $1B share repurchase program.
- Strategic moves include exploring alternatives for the Bahama Breeze brand and forecasting annual same-store sales above estimates, despite an EPS forecast below analyst expectations.
- Fiscal 2026 outlook: Guidance calls for 7–8% total sales growth (including ~2% from a 53rd week), 2–3.5% same-restaurant sales growth, EPS in the range $10.50–10.70, and plans to open 60–65 new restaurants.
- Total sales of $3.2 billion were reported in Q3 2025, with same-restaurant sales growing 0.7% despite weather and holiday shifts, and adjusted diluted EPS of $2.8, reflecting strong operational execution.
- Menu innovations and promotions played a key role, as seen with Olive Garden’s updated menu items and the return of the Buy One, Take One offer, which boosted base traffic and social engagement, while segments like LongHorn and Fine Dining recorded improved profit margins.
- The company updated its guidance for Q4 fiscal 2025 to expect total sales between $3.23 and $3.26 billion, same-restaurant sales growth above 3%, and adjusted diluted EPS between $2.88 and $2.95, alongside plans for new restaurant openings in fiscal 2026.
- Total sales reached $3.2 billion with a 6.2% sales growth and 0.7% same-restaurant sales growth, alongside an adjusted EBITDA of $559 million and adjusted diluted net EPS of $2.80 from continuing operations.
- The margin analysis showed an increase in operating income and improvements in segment profit margins, with key figures aligning favorably compared to Q3 2024.
- The company also updated its fiscal 2025 outlook, projecting total annual sales around $12.1 billion, continued restaurant development with 50 to 55 new openings, and provided commodity and capital spending guidance.
- Q3 sales increased 6.2% to $3.2 billion, driven by blended same-restaurant sales growth and acquisitions, with reported diluted EPS of $2.74 and adjusted EPS of $2.80 (excluding certain integration costs).
- The company declared a quarterly dividend of $1.40 per share, payable on May 1, 2025, and repurchased approximately $53 million of common stock.
- Darden updated its full-year fiscal 2025 outlook, projecting total sales of about $12.1 billion, 1.5% same-restaurant sales growth, 50 to 55 new restaurant openings, and capital spending of approximately $650 million.
- Darden Restaurants, Inc. reported Q3 2025 results with total sales of $3.2 billion and a reported diluted EPS of $2.74 (adjusted EPS of $2.80 after excluding integration costs).
- The company declared a quarterly dividend of $1.40 per share, repurchased approximately $53 million of common stock, and updated its full year outlook with total sales of about $12.1 billion, new restaurant openings of 50-55, and planned capital spending of $650 million.