Darden said total sales for fiscal 2024 rose to $11.39 billion from $10.49 billion in fiscal 2023, a 8.6% increase, and diluted net earnings per share from continuing operations increased 6.6% to $8.53.

1. 01

   Darden said total sales for fiscal 2024 rose to $11.39 billion from $10.49 billion in fiscal 2023, a 8.6% increase, and diluted net earnings per share from continuing operations increased 6.6% to $8.53.

2. 02

   The company said it acquired 100% of the equity interest in Ruth's Chris on June 14, 2023 for total consideration of $724.6 million, and that it incurred acquisition and integration expenses of $51.8 million ($42.1 million after tax) over 12 months.

3. 03

   The company said operating cash flow from continuing operations for fiscal 2024 was $1.62 billion, and that it paid dividends of $628.4 million and repurchased shares of $453.9 million in financing activities.

4. 04

   Darden said on July 17, 2024 that it agreed to acquire all outstanding shares of Chuy's Holdings for $37.50 per share in an all-cash transaction. It said the enterprise value is approximately $605 million and that it plans to fund the deal through one or more new debt issuances.

Key figures

Fiscal year ended May 26, 2024

Revenue

$11.4B

Operating income

$1.3B

Net income

$1.0B

EPS

$8.51

Gross profit

$2.3B

Operating cash flow

$1.6B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.