Darden Restaurants (DRI) FY2024 results: revenue $11.4 billion, up 8.6% on the year
Darden Restaurants Inc. (DRI) reported revenue of $11.4 billion for fiscal 2024, the year ended 26 May 2024, up 8.6% on the year before. Net income was $1.0 billion, up 4.7%, and diluted earnings per share $8.51. The figures are the company's own, from the 10-K it filed with the SEC on 19 July 2024.
Revenue
$11.4 billion
+8.6% on the year
FY2017FY2024
Operating margin
11.5%
11.5% a year earlier
FY2017FY2024
Net income
$1.0 billion
+4.7% on the year
FY2017FY2024
Diluted EPS
$8.51
+6.5% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,612
1,546
1,256
+4.3%
Capital expenditure
601
565
377
+6.4%
Free cash flow
1,011
981
879
+3.1%
Free cash flow margin
8.9%
9.4%
9.1%
Cash from investing
-1,325
-568
-389
Cash from financing
-483
-1,033
-1,610
Depreciation and amortisation
460
388
368
+18.6%
Share-based compensation
68.5
67.5
60.5
+1.5%
Buybacks
454
459
1,071
-1.0%
Dividends paid
628
590
563
+6.5%
Dividend per share
$5.24
$4.84
$4.40
+8.3%
Diluted shares, weighted
121m
123m
129m
-1.7%
Shares outstanding at period end
119m
121m
124m
-1.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
2,242
2,202
2,198
+1.9%
Short-term borrowings
n/a
0.0
0.0
Debt
1,457
885
901
+64.7%
Operating lease liabilities
3,705
3,668
3,756
+1.0%
Finance lease liabilities
1,357
1,173
1,019
+15.7%
Other liabilities
2,562
2,315
2,262
+10.7%
Total liabilities and equity
11,323
10,242
10,136
+10.6%
Goodwill
1,391
1,037
1,037
+34.1%
Intangible assets
16.2
11.3
13.3
+43.4%
Cash and equivalents
195
368
421
-47.0%
Receivables
79.1
80.2
72.0
-1.4%
Inventory
290
288
271
+0.9%
Other assets
9,351
8,457
8,322
+10.6%
Total assets
11,323
10,242
10,136
+10.6%
10-K for the year ended 26 May 2024, filed 19 July 2024: the filing.