Darden Restaurants (NYSE:DRI) is set to release earnings before the market opens on Tuesday, June 27th. Estimize and Wall Street are foreshadowing both EPS and Revenue to come in lower than the previous quarter.
The Estimize community is more bullish in comparison to the Street for EPS, the Estimize consensus comes in at $1.17 vs. $1.15 for Wall Street. Switching to revenue we see that the Street is roughly in line with Estimize hovering around $1.861M. The previous three quarters the Estimize community has predicted correctly, that Darden Restaurants would outperform.
Chances are you’ve probably dined at a Darden franchise before without even knowing it. The Darden family of restaurants include; Olive Garden, Longhorn Steakhouse, Bahama Breeze, Yard House, and the list goes on.
The array of restaurants range from quick and casual to fine dining, and with the acquisition of Cheddar’s Scratch Kitchen, institutional ownership saw an uptick to 97%. Due to a wage and inflation increase, the acquisition of Cheddar’s will help protect against a possible loss of customers to the fine dining restaurants. Analysts are predicting revenue to come in at 1.86B, which would be a 4% increase from last year.