Bloomin Brands Inc
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Darden analysis: Assessing the success of a Darden brand spinoff
Darden Restaurants Inc. (DRI) has jumped since the Wall Street Journal mentioned that Barington Capital Group took a 2.8% stake, calling on Darden to split in two.
Why Analysts Expect Darden Restaurants’ Q2 EPS to Rise
For the second quarter of fiscal 2019, analysts are expecting Darden Restaurants (DRI) to post adjusted EPS of $0.91, which represents a rise of 24.2% from $0.73 in the second quarter of fiscal 2018.
Is Yum! Brands Headed for a Spin-Off?
Is YUM headed for a spin-off? On October 15, YUM announced the appointment of activist investor Keith A. Meister to its board. Earlier this year, Meister suggested that YUM spin off its China business.
Brinker International May Report Higher Revenues
Brinker International (EAT) earns revenues from its two brands—Chili’s and Maggiano’s. The majority of its restaurants are Chili’s locations.
Darden Raised Its Earnings Guidance for Fiscal 2018
On January 8, 2018, Darden Restaurants (DRI) raised its EPS guidance for fiscal 2018 to $4.70–$4.78 from an earlier estimate of $4.45–$4.53.
Must-know: Darden Restaurants traded sideways after its earnings
Darden Restaurants (DRI) reported its earnings on September 12. The shares began trading at $48.96, which was up 1% from the previous day’s closing of $48.29. The day’s high and low were $49.43 and $47.28, respectively.
Texas Roadhouse’s 1Q16 EPS Was below Analyst’s Expectations?
In 1Q16, Texas Roadhouse posted EPS of $0.5. This was lower than analysts’ estimate of $0.54. The adjusted EPS was above analysts’ estimate at $0.55.
Analysts Expect Darden’s Revenue to Rise in Fiscal 1Q18
Analysts expect Darden to post revenues of $1.93 billion in fiscal 1Q18, which represents 12.7% growth from $1.71 billion in 1Q17.
Must-know: Bloomin’ Brands refreshes menu initiatives
Bloomin’ Brands (BLMN) refreshed Carrabba’s menu in the first half of 2014 with a price point and variety in mind.
Syria strike would raise gas prices and reduce restaurants’ sales
Why higher gasoline prices can reduce people’s leftover spending at restaurants, which will negatively affect restaurant sales.
Darden analysis: Why lower average checks are outperforming
Adding a little bit of spice to the chart After compiling a list of Darden’s core competitor brands, which include Bravo Brio Restaurant Group Inc. (BBRG), Bloomin’ Brands Inc. (BLMN), Cheesecake Factory Inc. (CAKE), Texas Roadhouse Inc. (TXRH), Ignite Restaurant Group Inc. (IRG), Brinker International Inc. (EAT), and Dine Equity Inc. (DIN), we’ve added a […]
How Did Darden Expand Its 3Q16 Revenue?
Darden Restaurants’ (DRI) revenue includes sales from all seven of its brands. The majority, or 55%, of revenues came from Olive Garden.
Analysts Raise Price Targets after Darden’s Fiscal Q1 Results
Since the announcement of Darden Restaurants’ earnings for the first quarter of fiscal 2019, Canaccord Genuity, Stifel, Jefferies, and Maxim have all raised their price targets.
Bloomin’ Brands Has 3 Key Costs of Operation
Bloomin’ Brands’ revenue was affected by as much as 0.7% due to price increases for beef and seafood. A restaurant can do little when facing rising prices
Darden’s Stock Price Rises on Goldman Sachs’s Upgrade
Since the beginning of 2018, Darden’s stock price has increased by 24.3%.
How Did Shake Shack Expand Its 4Q15 Revenues?
Shake Shack recorded revenues of $51.1 million, with $49.3 million coming from company-owned restaurants sales and $1.7 million from licensed restaurants.
How Did Darden Stock React to BMO Capital’s Downgrade?
Despite BMO Capital’s downgrade on September 24, Darden Restaurants’ (DRI) stock price rose 0.4% and closed the day at $113.28.
Darden’s Management Raises Its Guidance for Fiscal 2019
Darden’s management expects its revenue to rise 5.5%, with its overall SSSG for the year likely to be in the range of 2.5%–2.7%.
Bloomin’ Brands loses to its peers in year-to-date returns
As of September 20, 2014, year-to-date (or YTD) returns for Bloomin’ Brands (BLMN) was -30.7%.
Bloomin’ Brands’ year-to-date return as of 3Q14
As of November 2014, Bloomin’ Brands’ (BLMN) year-to-date (or YTD) return was -7.6%. BLMN operates casual dining restaurants. It competes with companies like EAT and TXRH.
Why Yum! Brands wants to grow outside the US
Restaurant companies in the U.S. are facing flat sales. Markets in China and India have experienced double digit growth over the past five years.
A critical overview of Yum! Brands for investors
Yum! Brands has the second largest market share of 11% in the U.S. fast food industry—after McDonald’s with 17% of the market share.
Casual Dining Restaurants: Their 6-Month Stock Performance
It was a tough 4Q15 for casual dining restaurants, as the minimum wage for workers went up. In this series, we’ll look at what caused these stocks to underperform in 4Q15 and most of 1Q16.
Must-know: Brinker International’s year-to-date performance
As of October 28, 2014, Brinker International’s (or EAT) year-to-date (or YTD) return was 12.8%—compared to returns of 8.3% on the S&P 500 Index.
Why a standalone Red Lobster is key to the brand’s survival
Post-separation Red Lobster is expected to have more tailored operating initiatives focused on “maintaining stable sales by retaining core guests.”
Must-Know: McDonald’s Has Got Tough Competition
McDonald’s (MCD) competition includes large international and national food chains as well as regional and local retailers of food products.
What are casual-dining restaurants?
Casual-dining restaurants Casual-dining restaurants have a relaxed, casual ambiance with a lot of seating. They offer full table service and may also have a wine menu or full bar service. The menu is higher-priced than fast-food restaurants. Olive Garden, under the umbrella of Darden Restaurants (DRI), for example, has a price range of $10 to $20 for […]
Brinker’s Performance in the Competitive Market
The price-to-sales ratios of Brinker, Darden, Buffalo Wild Wings, Bloomin’ Brands, and DineEquity are 0.95x, 1.19x, 2.15x, 0.53x, and 2.47x, respectively.
71% Of Restaurant Operators Reported Positive Same-Store Sales
The NRA’s Current Situation Index for same-store sales stood at 105.2 in December 2014—compared to 103.5 in November.
Will Darden Outperform Analysts’ EPS Estimates in Fiscal 1Q18?
In fiscal 1Q18, analysts expect Darden Restaurants (DRI) to post EPS of $0.99, which represents 12.5% growth from $0.88 in fiscal 1Q17.
How Does Darden Plan to Expand Its Business?
By the end of fiscal 3Q16, Darden Restaurants (DRI) operated 1,535 restaurants, including 844 Olive Gardens and 479 LongHorn Steakhouses.
Must-know: An analysis of Bloomin’ Brands’ revenue
Overall revenues for Bloomin’ Brands grew 9% to $1,111 million from $1,019 million as of the second quarter ended June 31, 2013.
Why the Restaurant Performance Index is important
The Current Situations Index is based on indicators’ past trends—same-store sales, traffic, capital expenditure, and labor. It has been at levels above 100 since March 2014.
Darden Restaurants’ Upcoming 3Q16 Results: Growth Leading the Way
Darden Restaurants is set to announce its fiscal 3Q16 earnings on April 5, 2016, before the market opens. Since its fiscal 2Q16 results on December 18, 2015, the company’s share price has appreciated by 5.2%.
Current Same-Store Sales Rise For Restaurants
According to the NRA (National Restaurant Association), 72% of operators reported a gain in same-store sales over this period, and 11% reported a decline.
Why Is Darden’s Revenue Expected to Expand in Fiscal 3Q16?
The overall revenue of Darden Restaurants is expected to grow to $1.8 billion in fiscal 3Q16. This is compared to $1.7 billion in fiscal 3Q15, which represents growth of 5.9%.
Darden analysis: Darden must increase or decrease average check
The eroding middle market Darden’s core brands—Olive Garden, Red Lobster, and LongHorn Steakhouse—face a macro shift in an ever-widening spread in US average income. The graph below shows the difference in household income between the second highest 20% and the second lowest 20% income earnings. The difference is divided by the average income of the […]
Point72 Asset Management opens new position in Pier 1 Imports
E-commerce represented approximately 1% of total sales in fiscal 2013, 4% in fiscal year 2014, 9% in the first quarter of fiscal 2015, and 9.7% in the second quarter of fiscal 2015.
Point72 Asset Management raises stake in Lumber Liquidators
The company “saw improvement in net sales trends over the course of the quarter as inventory levels recovered and the fall flooring season began.” But the shares are down 49% in the year to date.
Point72 Asset Management takes position in CymaBay Therapeutics
CymaBay Therapeutics is a clinical-stage biopharmaceutical company formerly known as Metabolex. It develops therapies to treat metabolic and rare diseases with high unmet need.
Point72 Asset Management adds position in Applied Genetic Tech
Using the company’s partnerships and experience in ophthalmology, it plans to expand into a disease indication with a larger market. The company says it expects to place a new product candidate for this large market opportunity into development some time in 2015.
Darden analysis: Business overview shows limited differentiation
Restaurant industry breakdown The first thing investors should do before making an investment is understand the company’s industry, business, and strategy. We can broadly break the restaurant industry down into the limited-service and full-service sectors. Full-service restaurants are establishments where customers receive their meals at their table, receive table waiting services, and generally pay at […]
Darden analysis: Darden brands are losing guests to competitors
Darden’s Olive Garden and Red Lobster brands are losing guests Darden Restaurant Inc.’s (DRI) same store growth and expense breakdowns suggest the company needs to follow a different strategy. With some price cuts, guest count is falling for its Olive Garden and Red Lobster brands. Without a price cut, however, the company would have likely […]
Why did Darden CEO Clarence Otis step down?
Darden announced at the end of July that chairman and CEO Clarence Otis will step down by the end of the year or when a replacement is found. Starboard CEO Jeffrey Smith said in a statement that Otis’ retirement was long overdue and that “It’s surprising to us that it took this long.”
Why Starboard Value launches proxy fight at Darden
Starboard said it believed that the market price of Darden significantly understated the value of the company’s businesses and real estate assets. It added that its operating margins were well below its peers.
Which restaurant stocks could benefit from tablet technology?
Will tablets work at every restaurant? Most industry experts see the tablet as most suited to fast-casual or casual restaurants like Chili’s, owned by Brinker International Inc. (EAT), or Panera Bread Co. (PNRA). That’s because servers and services still play an important role in many full-service or fine-dining restaurants. Human interaction is still largely perceived […]
Deutsche Bank Starts Bloomin’ Brands Coverage with ‘Buy’ Rating
Today, Deutsche Bank initiated coverage of Bloomin’ Brands (BLMN) with a “buy” rating and a 12-month price target of $24.
Bloomin’ Brands Stock Rises after Deutsche Bank’s ‘Buy’ Rating
Deutsche Bank’s “buy” rating for Bloomin’ Brands (BLMN) appears to have increased investors’ confidence as Bloomin’ was trading in positive territory after the announcement.
Analysts Raise Their Price Targets after DRI’s Strong Q3 Earnings
After Darden posted strong fiscal 2019 third-quarter earnings results and raised its guidance for fiscal 2019, analysts increased their price targets on its stock.
Darden’s Q3 2019 EPS Beat Analysts’ Estimates
In the third quarter of fiscal 2019, Darden Restaurants (DRI) posted adjusted EPS of $1.80, outperforming analysts’ EPS expectation of $1.75.
What Led to the Expansion of Darden’s EBIT Margin in Q3 2019?
Darden Restaurants’ (DRI) EBIT margin improved from 11.3% in the third quarter of fiscal 2018 to 11.8% in the third quarter of fiscal 2019.
Darden Outperforms Analysts’ Same-Store Sales Growth in Q3 2019
In the third quarter of fiscal 2019, Darden Restaurants (DRI) posted SSSG (same-store sales growth) of 2.8%, beating analysts’ expectation of 2.2%.
What Drove Darden’s Revenue in Q3 2019?
In the third quarter of fiscal 2018, Darden Restaurants (DRI) posted revenue of $2.25 billion.
Darden Stock Rises Nearly 7% on Impressive Q3 2019 Results
Darden Restaurants (DRI) posted its results for the third quarter of fiscal 2019 on March 21.
Darden Stock Rose after Its Q3 Earnings
At 9:45 AM EST on March 21, Darden was trading at $114.56, which represents a rise of 5.5% from the previous day’s closing price.
What Led to the Expansion of Darden’s EBIT Margin in Q2 2019?
During the second quarter of fiscal 2019, Darden Restaurants (DRI) posted an EBIT margin of 7.5%.
How Is Darden Restaurants Expanding Its Business?
At the end of the second quarter of fiscal 2019, Darden Restaurants (DRI) operated 1,762 restaurants.
What Drove Darden’s Same-Store Sales Growth in Q2?
Darden Restaurants (DRI) posted system-wide SSSG (same-store sales growth) of 2.1% in the second quarter of fiscal 2019.
Darden’s Q2 2019 Revenue Fell Short of Analysts’ Estimate
In the second quarter of fiscal 2019, Darden Restaurants (DRI) posted revenue of $1.97 billion, a rise of 4.9% year-over-year.
Darden Stock Rises after Management Raises Its EPS Guidance
Darden Restaurants (DRI) posted its earnings for the second quarter of fiscal 2019 on December 18.
BMO Capital Downgraded Darden Restaurants
On September 24, BMO Capital downgraded Darden from “market perform” to “underperform” due to concerns about food commodity deflation.
How Is Darden Restaurants Expanding Its Operations?
Darden Restaurants has added 52 restaurants in the last four quarters, which represents 3.0% growth from 1,701 restaurants in the first quarter of fiscal 2018.
Why Analysts Are Optimistic about Darden’s Fiscal Q4 Earnings
Analysts are expecting Darden Restaurants (DRI) to post adjusted EPS of $1.35, which represents an increase of 14.4% from $1.18 in the corresponding quarter of the previous year.
Darden Stock Rises after SunTrust Robinson Upgrade
By the end of June 7, Darden Restaurants (DRI) was trading at $91.40, 0.5% higher than its closing price the day prior.
Why Did SunTrust Robinson Humphrey Upgrade Darden?
On June 7, SunTrust Robinson Humphrey upgraded Darden Restaurants (DRI) from “hold” to “buy” and raised its price target from $104 to $110.
What Analysts Recommend for Darden after Fiscal 3Q18 Earnings
As of March 22, Darden Restaurants (DRI) was trading at $85.94. On the same day, analysts were expecting the company’s stock price to reach $101.23 in the next 12 months.
How Darden’s Valuation Multiple Compares with Peers’
Valuation multiples help investors compare companies with similar business models. Due to the high visibility in Darden Restaurants’ (DRI) future earnings, we’ve opted for the forward PE (price-to-earnings) multiple.
What Drove Darden’s Earnings per Share in Fiscal 3Q18
In fiscal 3Q!8, Darden Restaurants (DRI) posted adjusted EPS (earnings per share) of $1.71, which represents growth of 29.5% from $1.32 in fiscal 3Q17.
Why Darden’s Earnings Margin Declined in Fiscal 3Q18
In fiscal 3Q18, Darden Restaurants (DRI) posted EBIT (earnings before interest and tax) of $240.1 million, which represents an EBIT margin of 11.3%.
Darden’s Fiscal 3Q18 Same-Store Sales Growth Lower than Expectated
In fiscal 3Q18, Darden Restaurants (DRI) posted systemwide SSSG (same-store sales growth) of 2.0%, compared to analysts’ expectation of 2.5%.
What Drove Darden’s Revenue in Fiscal 3Q18?
Sales from all eight of its brands constitute Darden Restaurants’ (DRI) revenue. In fiscal 3Q18, Olive Garden generated 50.4% of total revenue.
Why Darden’s Stock Price Fell after Its Fiscal 3Q18 Earnings
Darden Restaurants (DRI) posted its fiscal 3Q18 earnings before the market opened on March 22.
How Darden Is Expanding Its Business
As of the end of fiscal 2Q18, Darden Restaurants (DRI) operates 1,722 restaurants, which includes 849 Olive Garden, 496 LongHorn Steakhouse, 153 Cheddar’s Scratch Kitchen, 68 Yard House, 57 The Capital Grille, 39 Bahama Breeze, 41 Seasons 52, and 19 Eddie V’s brand restaurants.
Darden’s Stock Rose on Strong 2Q18 Earnings
Darden Restaurants (DRI) posted its fiscal 2Q18 earnings on December 19. The company posted adjusted EPS (earnings per share) of $0.73 on revenues of $1.88 billion.
What Are Analysts Recommending for Darden?
As of December 12, 2017, Darden Restaurants (DRI) was trading at $87.14.
Why Investors Are Optimistic about Darden’s Fiscal 2Q18 Earnings
Darden Restaurants (DRI) is scheduled to announce its fiscal 2Q18 earnings before the market opens on December 19, 2017.
Here’s What Drove Darden Restaurants’ Earnings in Fiscal 1Q18
In fiscal 1Q18, Darden Restaurants (DRI) posted EPS (earnings per share) of $0.95. However, removing one-time expenses, its adjusted EPS was $0.99.
Why Darden Restaurants’ EBIT Margins Fell in Fiscal 1Q18
In fiscal 1Q18, Darden Restaurants (DRI) posted EBIT (earnings before interest and tax) of $180.9 million, which represents an EBIT margin of 9.3% compared to 9.4% in fiscal 1Q17.
How Darden Restaurants Is Expanding Its Business
At the end of fiscal 1Q18, Darden Restaurants (DRI) operated 1,701 restaurants. The company operates 847 Olive Gardens, 491 LongHorn Steakhouses, and others.
Darden’s Valuation Multiple Compared to Its Peers
Investors expect the devastation caused by Hurricane Harvey and Hurricane Irma in Texas and Florida to lower Darden’s sales in fiscal 1Q18.
Will Darden’s Fiscal 1Q18 Earnings Boost Its Stock Price?
Darden Restaurants (DRI) will announce its fiscal 1Q18 earnings before the market opens on September 26, 2017.
Darden Stock Hits New 52-Week High on Strong 4Q17 Earnings
In fiscal 4Q17, Darden posted adjusted EPS (earnings per share) of $1.18 on revenues of $1.9 billion.
How Darden’s Valuation Multiple Compares with Peers
On June 21, 2017, Darden was trading at a PE multiple of 20x, as compared to 17.8x before the announcement of its fiscal 3Q17 earnings.
What Led to Darden’s Earnings Margin Expansion in Fiscal 3Q17?
In fiscal 3Q17, Darden Restaurants (DRI) reported an EBIT (earnings before interest and tax) margin of 12.2%, compared to 9.8% in fiscal 3Q16.
Darden Stock Rose on Its Acquisition of Cheddar’s Scratch Kitchen
Darden Restaurants (DRI) announced its fiscal 3Q17 results on March 27, 2017. The company posted adjusted EPS (earnings per share) of $1.32 on revenue of $1.88 billion.
What Led to Darden’s EBIT Margin Expansion in Fiscal 2Q17?
In fiscal 2Q17, Darden Restaurants (DRI) reported an EBIT margin of 7.1% compared to 7.0% in fiscal 2Q16. The margin was slightly lower than analysts’ estimate.
Why Darden Restaurants Stock Was Flat after Fiscal 2Q17 Earnings
Darden Restaurants (DRI) announced its fiscal 2Q17 results on December 20, 2016. It reported EPS of $0.64 on overall revenue of $1.64 billion.
Why Are Investors Confident about Darden before Fiscal 2Q17?
Darden Restaurants (DRI) is set to announce its fiscal 2Q17 earnings before the market opens on December 20, 2016. Since fiscal 1Q17, DRI stock has risen 23.5%.
How Is Darden Restaurants Planning to Expand Its Business?
At the end of fiscal 1Q17, Darden Restaurants (DRI) was operating 1,539 restaurants.
What Analysts Recommend for DRI ahead of Its Fiscal 1Q17 Earnings
As of September 27, 2016, Darden Restaurants was trading at $61.5. This price may already have priced in the estimates we’ve discussed in this series.
Darden’s Dividend Policy: What’s Expected in Fiscal 1Q17?
Analysts expect Darden to pay dividends of $0.55 in fiscal 1Q17 at a payout ratio of 67.1%. For fiscal 2017, Darden is expected to pay dividends of $2.2.
What Do Analysts Expect of Darden’s Earnings in Fiscal 1Q17?
Darden has beaten analysts’ earnings per share estimates in the last four quarters. Usually, when earnings beat analysts’ estimates, a share’s price rises.
Why Analysts Expect DRI to Post Positive Same-Store Sales Growth
Analysts are expecting Darden Restaurants (DRI) to post systemwide same-store sales growth of 1.6% in fiscal 1Q17 compared to 3.4% in fiscal 1Q16.
Why Texas Roadhouse’s PE Multiple Declined after 2Q16 Results
In the next four quarters, analysts are expecting Texas Roadhouse to post EPS of $1.90, which represents a growth of 15.2% from the same quarters in the previous year.
How Texas Roadhouse’s 2Q16 Results Affected Analysts’ Estimates
Currently, analysts are expecting Texas Roadhouse to post EPS of $0.37 and $0.38 in 3Q16 and 4Q16, respectively, which could add up to $1.78 for fiscal 2016.
Bubba’s 33 Part of Texas Roadhouse’s Unit Growth Expansion Plans
By the end of 2Q16, Texas Roadhouse (TXRH) was operating 499 restaurants—415 company-owned restaurants and 84 franchised restaurants.
Texas Roadhouse Stock Slid 12% on Slowing Same-Store Sales Growth
Texas Roadhouse (TXRH) reported its 2Q16 results on August 1 after the Market closed. TXRH posted revenue of $508.8 million and adjusted earnings per share of $0.47.
Why Did Darden Restaurants’ Earnings Margin Rise in Fiscal 4Q16?
In fiscal 4Q16, Darden Restaurants (DRI) reported an EBIT (earnings before interest and tax) margin of 10.3% compared with 10.1% in fiscal 4Q15.
What Drove Darden’s Same-Store Sales Growth in Fiscal 4Q16?
On a comparable calendar basis, in fiscal 4Q16, Darden Restaurants (DRI) reported overall same-store sales growth of 2.6% against analysts’ estimate of 2.8%.
Darden Restaurants Updates Guidance after Fiscal 4Q16 Earnings
After fiscal 4Q16 results, Darden Restaurants’ (DRI) management has revised its same-store sales growth guidance for fiscal 2017 to the range of 1%–2% as compared to earlier estimates of 1%–3%.
