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08:30
Jun 25 ◎

DRI FY2026 Q4 Watch

Darden Restaurants, Inc. (DRI) FY2026 Q4 Earnings Call

DRI UBER ▾

Raj Vennam

Management's guidance implies continued share gains and margin stability despite a cautious consumer, reflecting conviction in the portfolio's resilience and pricing discipline.

"We expect total sales of $13.6 billion to $13.75 billion, driven by same-restaurant sales growth of 2.5% to 3.5%"

DRI WATCH

Rick Cardenas

Uber Direct is Darden's first-party delivery partner; the relationship is steady but not growing significantly, indicating stable demand for Uber's white-label delivery service from a large casual-dining operator.

"we continue to focus on that first party in the restaurants that we have and the brands we have with Uber Direct"

UBER WATCH

HIGH

08:30
Mar 19 ◎

DRI FY2026 Q3 Watch

Darden Restaurants, Inc. (DRI) FY2026 Q3 Earnings Call

UBER ▾

Rajesh Vennam

Uber delivery mix for Olive Garden is growing (4.7% of sales) with management noting they may continue to market delivery as a secondary message, indicating a deepening partnership and incremental revenue for Uber.

"Uber was 4.7% of sales for Q3. Now, we did do some media support."

UBER WATCH

HIGH

08:30
Dec 18 ◎

DRI FY2026 Q2 Watch

Darden Restaurants, Inc. (DRI) FY2026 Q2 Earnings Call

DRI UBER TSN SAUC ▾

Rajesh Vennam

Top-line guidance was raised but EPS maintained, reflecting near-term commodity headwinds; management is cautiously optimistic, expecting margin improvement in H2.

"We now expect total sales growth for the year of 8.5% to 9.3%, same restaurant sales growth of 3.5% to 4.3%."

DRI WATCH

Rick Cardenas

Olive Garden's first-party delivery via Uber Direct generated 4% of total sales, with ~50% incremental, indicating strong growth potential for Uber's last-mile platform in casual dining. — Uber's B2B delivery service is penetrating large restaurant chains, providing a new, high-quality revenue stream beyond its core marketplace.

"First-party delivery through our partnership with Uber Direct continue to drive strong results."

UBER WATCH

Rajesh Vennam

Beef retail demand dropped ~14% in November, while packer production has increased recently, suggesting beef costs may ease in Q4. — Lower beef prices relieve margin pressure across the restaurant industry and may reduce input costs for beef processors facing demand weakness.

"We have seen retail demand destruction accelerate over the past few months, and we think November was actually down about 14% demand volume down in stakes."

TSN WATCH SAUC WATCH

HIGH

08:30
Sep 18 ◎

DRI FY2026 Q1 Watch

Darden Restaurants, Inc. (DRI) FY2026 Q1 Earnings Call

DRI UBER MCD WEN ▾

Rick Cardenas

Darden raised total sales growth guidance and remains confident in its strategy despite commodity headwinds; the tone is cautiously optimistic with ongoing reinvestment in affordability and delivery.

"We had a great quarter with same restaurant sales and earnings growth that exceeded our expectations."

DRI WATCH

Rick Cardenas

Darden's delivery partnership with Uber is driving incremental sales, especially among younger, higher-check guests, and the pilot is being expanded to other brands.

"Our first-party delivery, through our partnership with Uber Direct, is helping capture younger, more affluent guests who value convenience and crave Olive Garden."

UBER WATCH

Rajesh Vennam

Beef supply chain disruptions (packer cutbacks, Mexican cattle import halt, Brazilian tariffs) are causing a spike in costs; Darden sees only 25% coverage and expects demand destruction at retail, suggesting current prices are unsustainable. — If beef costs retreat as demand falls, major burger chains (MCD, WEN) could see margin relief; if costs persist, pricing pressure intensifies across the industry.

"We are starting to see some demand destruction in retail."

MCD WATCH WEN WATCH

HIGH

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