DARDEN RESTAURANTS INC
For the period ended Nov 26, 2023. Filed Jan 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Nov 26, 2023 · Filed Jan 3, 2024
DRI$229.77+1.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Earnings
(In millions, except per share data)
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| November 26,2023 | November 27,2022 | November 26,2023 | November 27,2022 | |
| Sales | $2,727.3 | $2,486.5 | $5,457.9 | $4,932.6 |
| Costs and expenses: | ||||
| Food and beverage | 845.8 | 818.3 | 1,696.8 | 1,613.6 |
| Restaurant labor | 880.9 | 808.5 | 1,756.2 | 1,602.3 |
| Restaurant expenses | 450.4 | 417.0 | 897.0 | 820.5 |
| Marketing expenses | 36.9 | 31.1 | 75.5 | 61.4 |
| General and administrative expenses | 114.8 | 90.4 | 268.1 | 178.7 |
| Depreciation and amortization | 112.5 | 96.8 | 222.3 | 192.4 |
| Impairments and disposal of assets, net | 7.5 | (8.8) | 10.6 | (13.7) |
| Total operating costs and expenses | $2,448.8 | $2,253.3 | $4,926.5 | $4,455.2 |
| Operating income | 278.5 | 233.2 | 531.4 | 477.4 |
| Interest, net | 37.1 | 19.8 | 66.8 | 39.6 |
| Earnings before income taxes | 241.4 | 213.4 | 464.6 | 437.8 |
| Income tax expense | 29.1 | 25.9 | 57.5 | 56.7 |
| Earnings from continuing operations | $212.3 | $187.5 | $407.1 | $381.1 |
| Losses from discontinued operations, net of tax benefit of $0.3, $0.3, $0.4 and $0.3, respectively | (0.2) | (0.3) | (0.5) | (0.9) |
| Net earnings | $212.1 | $187.2 | $406.6 | $380.2 |
| Basic net earnings per share: | ||||
| Earnings from continuing operations | $1.77 | $1.54 | $3.38 | $3.11 |
| Losses from discontinued operations | — | (0.01) | — | (0.01) |
| Net earnings | $1.77 | $1.53 | $3.38 | $3.10 |
| Diluted net earnings per share: | ||||
| Earnings from continuing operations | $1.76 | $1.52 | $3.35 | $3.09 |
| Losses from discontinued operations | — | — | — | (0.01) |
| Net earnings | $1.76 | $1.52 | $3.35 | $3.08 |
| Average number of common shares outstanding: | ||||
| Basic | 119.9 | 122.1 | 120.4 | 122.5 |
| Diluted | 120.8 | 123.1 | 121.4 | 123.5 |
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