Darden Restaurants, Inc. · DRI · FY2027 Q1 · Calendar Q3 2026
Darden starts FY2027 with 3.2% same-restaurant sales growth
Darden's current evidence supports a measured, resilient-demand thesis: comparable sales grew across the portfolio and management maintained FY2027 EPS guidance. The evidence is mixed rather than uniformly strong, with Olive Garden at 1% growth and ongoing exposure to pricing, commodity, fuel, and execution risks.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
The quarter added a 3.2% comparable-sales result, reaffirmed FY2027 EPS guidance, and identified Olive Garden lunch initiatives plus continued Yard House and Chuy's expansion as near-term priorities. The World Cup affected brand-level comparisons, adding about 180 basis points to Yard House same-restaurant sales and subtracting about 80 basis points from the rest of the portfolio.
Guidance delta
Maintained: management reaffirmed FY2027 EPS guidance of $11.10-$11.35.
Key takeaways
- First-quarter same-restaurant sales grew 3.2% on a comparable-calendar basis, with Olive Garden at 1%, LongHorn Steakhouse at 6.8%, and Yard House at 10%.
- Management linked performance to menu innovation, promotions, and social-media engagement, including the Never-Ending Pasta Bowl.
- Olive Garden lunch marketing and further Yard House and Chuy's unit growth are the main operating initiatives highlighted for the next phase.
Management priorities
- Revive Olive Garden lunch marketing and test new lunch platforms.
- Continue the smaller Yard House prototype rollout and planned openings.
- Invest in menu innovation, brand consistency, and Chuy's expansion.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Freedom Capital Markets | Buy | Buy | Maintain | Sep 21, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Sep 15, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 14, 2026 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Sep 11, 2026 |
| Citigroup | Buy | Buy | Maintain | Sep 11, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Aug 27, 2026 |
| Baird | Outperform | Neutral | Upgrade | Aug 24, 2026 |
| Argus Research | Buy | Buy | Maintain | Jun 30, 2026 |
| UBS | Buy | Buy | Maintain | Jun 26, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jun 26, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Jun 26, 2026 |
| BTIG | Buy | Buy | Maintain | Jun 26, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jun 24, 2026 |
| Evercore ISI Group | In Line | Outperform | Downgrade | Jun 23, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jun 5, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Mar 20, 2026 |
| Barclays | Overweight | Overweight | Maintain | Mar 20, 2026 |
| Mizuho | Outperform | Neutral | Upgrade | Jan 23, 2026 |
| Raymond James | Market Perform | Outperform | Downgrade | Jan 21, 2026 |
| Truist Securities | Hold | Buy | Downgrade | Jan 8, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jan 6, 2026 |
| Jefferies | Hold | Hold | Maintain | Dec 15, 2025 |
| Goldman Sachs | Buy | Neutral | Upgrade | Oct 20, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 6, 2025 |
| TD Cowen | Hold | Hold | Maintain | Sep 19, 2025 |
| TD Securities | Hold | Hold | Maintain | Jun 23, 2025 |
| Wedbush | Outperform | Outperform | Maintain | Mar 21, 2025 |
| Stifel | Buy | Buy | Maintain | Mar 21, 2025 |
| Bernstein | Market Perform | Outperform | Downgrade | Sep 20, 2024 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 25, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Mar 24, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jun 16, 2022 |
| MKM Partners | Buy | Buy | Maintain | Jun 14, 2022 |
| Gordon Haskett | Hold | Buy | Downgrade | Jul 1, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jun 26, 2020 |
| CFRA | Hold | Hold | Maintain | Apr 1, 2020 |
| Piper Jaffray | Overweight | Overweight | Maintain | Sep 20, 2019 |
| Maxim Group | Hold | Buy | Downgrade | Jul 16, 2019 |
| Bank of America | Buy | Buy | Maintain | Mar 22, 2019 |
| BTIG Research | Buy | Neutral | Upgrade | Dec 19, 2018 |
| Loop Capital | Buy | Buy | Maintain | Oct 25, 2018 |
| Stifel Nicolaus | Buy | Buy | Maintain | Sep 21, 2018 |
| Canaccord Genuity | Buy | Buy | Maintain | Sep 21, 2018 |
| Argus | Buy | Hold | Upgrade | Dec 21, 2017 |
| Longbow Research | Neutral | Neutral | Maintain | Oct 13, 2017 |
| Tigress Financial | Buy | Neutral | Upgrade | Jun 23, 2016 |
| PiperJaffray | Overweight | Neutral | Upgrade | May 17, 2016 |
| Telsey Advisory Group | Outperform | Market Perform | Upgrade | Mar 23, 2015 |
| Wunderlich Securities | Hold | Hold | Maintain | Dec 24, 2013 |
| Wunderlich | Hold | Hold | Maintain | Dec 24, 2013 |
| Buckingham Research | Neutral | Underperform | Upgrade | Sep 23, 2013 |
| Miller Tabak | Buy | Buy | Maintain | Feb 28, 2013 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Feb 22, 2013 |
| Janney Capital | Buy | Neutral | Upgrade | Feb 22, 2013 |
| Credit Agricole | Underperform | Underperform | Maintain | Feb 13, 2013 |
| Sterne Agee | Buy | Buy | Maintain | Dec 5, 2012 |
| Susquehanna | Neutral | Positive | Downgrade | Sep 24, 2012 |
| Davenport | Buy | Buy | Maintain | Jul 24, 2012 |
| DA Davidson | Neutral | Neutral | Maintain | Mar 23, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $207.74. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Seaport Global | Eric Gonzalez | $240 | $209.02 | +15.5% | Sep 16, 2026 |
| Oppenheimer | Analyst unavailable | $245 | $218.61 | +17.9% | Sep 15, 2026 |
| Morgan Stanley | Analyst unavailable | $255 | $209.82 | +22.7% | Sep 14, 2026 |
| Stephens | Analyst unavailable | $220 | $207.65 | +5.9% | Sep 11, 2026 |
| Deutsche Bank | Analyst unavailable | $245 | $215.36 | +17.9% | Sep 1, 2026 |
| KeyBanc | Analyst unavailable | $237 | $218.95 | +14.1% | Aug 27, 2026 |
| Robert W. Baird | Chris O'Cull | $250 | $221.6 | +20.3% | Aug 24, 2026 |
| Argus Research | Analyst unavailable | $245 | $205.07 | +17.9% | Jun 30, 2026 |
| Deutsche Bank | Analyst unavailable | $236 | $210.98 | +13.6% | Jun 26, 2026 |
| Piper Sandler | Brian Mullan | $212 | $212.76 | +2.0% | Jun 26, 2026 |
| UBS | Analyst unavailable | $240 | $212.76 | +15.5% | Jun 26, 2026 |
| BTIG | Analyst unavailable | $235 | $212.76 | +13.1% | Jun 26, 2026 |
| Stephens | Analyst unavailable | $216 | $212.76 | +4.0% | Jun 26, 2026 |
| Robert W. Baird | Analyst unavailable | $220 | $212.76 | +5.9% | Jun 26, 2026 |
| Evercore ISI | David Palmer | $230 | $212.01 | +10.7% | Jun 23, 2026 |
| KeyBanc | Analyst unavailable | $228 | $203.83 | +9.7% | May 27, 2026 |
| UBS | Dennis Geiger | $230 | $203.34 | +10.7% | Mar 10, 2026 |
| Truist Financial | Analyst unavailable | $206 | $218.01 | -0.8% | Feb 10, 2026 |
| Melius Research | Analyst unavailable | $265 | $205.28 | +27.6% | Jan 23, 2026 |
| Mizuho Securities | Analyst unavailable | $235 | $205.16 | +13.1% | Jan 23, 2026 |
| Truist Financial | Analyst unavailable | $207 | $199.77 | -0.4% | Jan 8, 2026 |
| Bernstein | Jeffrey Bernstein | $227 | $200.25 | +9.3% | Jan 7, 2026 |
| BMO Capital | Analyst unavailable | $220 | $192.66 | +5.9% | Jan 6, 2026 |
| Mizuho Securities | Nick Setyan | $195 | $189.87 | -6.1% | Dec 22, 2025 |
| BMO Capital | Andrew Strelzik | $205 | $192.88 | -1.3% | Dec 19, 2025 |
| Guggenheim | Gregory Francfort | $230 | $185.53 | +10.7% | Dec 17, 2025 |
| Jefferies | Andy Barish | $200 | $182.13 | -3.7% | Dec 15, 2025 |
| Morgan Stanley | Analyst unavailable | $236 | $183.84 | +13.6% | Dec 12, 2025 |
| Stephens | Jim Salera | $205 | $182.06 | -1.3% | Dec 11, 2025 |
| Evercore ISI | Analyst unavailable | $225 | $179.89 | +8.3% | Dec 9, 2025 |
| Mizuho Securities | Nick Setyan | $185 | $174.72 | -10.9% | Nov 24, 2025 |
| Mizuho Securities | Analyst unavailable | $190 | $183.63 | -8.5% | Oct 27, 2025 |
| Goldman Sachs | Analyst unavailable | $225 | $188.19 | +8.3% | Oct 20, 2025 |
| Raymond James | Analyst unavailable | $210 | $188.12 | +1.1% | Sep 19, 2025 |
| Evercore ISI | David Palmer | $240 | $186.66 | +15.5% | Sep 19, 2025 |
| BTIG | Analyst unavailable | $225 | $192.74 | +8.3% | Sep 19, 2025 |
| Wells Fargo | Analyst unavailable | $200 | $192.74 | -3.7% | Sep 19, 2025 |
| KeyBanc | Analyst unavailable | $225 | $192.74 | +8.3% | Sep 19, 2025 |
| Barclays | Analyst unavailable | $230 | $188.12 | +10.7% | Sep 19, 2025 |
| Robert W. Baird | Analyst unavailable | $208 | $192.74 | +0.1% | Sep 18, 2025 |
| Guggenheim | Analyst unavailable | $235 | $208.79 | +13.1% | Sep 17, 2025 |
| Evercore ISI | David Palmer | $245 | $211.46 | +17.9% | Sep 10, 2025 |
| KeyBanc | Analyst unavailable | $240 | $211.46 | +15.5% | Sep 10, 2025 |
| Truist Financial | Jake Bartlett | $252 | $208.06 | +21.3% | Sep 2, 2025 |
| Jefferies | Andy Barish | $210 | $217.5 | +1.1% | Jun 13, 2025 |
| Robert W. Baird | David Tarantino | $192 | $200.68 | -7.6% | Apr 7, 2025 |
| Guggenheim | Analyst unavailable | $220 | $208.56 | +5.9% | Mar 24, 2025 |
| Stifel Nicolaus | Chris O'Cull | $215 | $199.93 | +3.5% | Mar 21, 2025 |
| Morgan Stanley | Analyst unavailable | $217 | $199.93 | +4.5% | Mar 21, 2025 |
| Morgan Stanley | Brian Harbour | $209 | $183.44 | +0.6% | Dec 19, 2024 |
| Wells Fargo | Aaron Raker | $175 | $172.28 | -15.8% | Sep 23, 2024 |
| Loop Capital Markets | Eric Gonzalez | $194 | $170.17 | -6.6% | Sep 20, 2024 |
| Bank of America Securities | Sara Senatore | $195 | $170.74 | -6.1% | Sep 20, 2024 |
| BMO Capital | Andrew Strelzik | $175 | $171.39 | -15.8% | Sep 20, 2024 |
| Raymond James | Brian Vaccaro | $187 | $171.37 | -10.0% | Sep 20, 2024 |
| Wedbush | Nick Setyan | $200 | $170.87 | -3.7% | Sep 20, 2024 |
| Jefferies | Andy Barish | $136 | $171.4 | -34.5% | Sep 20, 2024 |
| Robert W. Baird | David Tarantino | $172 | $172.27 | -17.2% | Sep 20, 2024 |
| Piper Sandler | Brian Mullan | $177 | $172.27 | -14.8% | Sep 20, 2024 |
| Stephens | Jim Salera | $164 | $172.27 | -21.1% | Sep 20, 2024 |
| Evercore ISI | David Palmer | $205 | $172.27 | -1.3% | Sep 20, 2024 |
| BTIG | Peter Saleh | $195 | $172.27 | -6.1% | Sep 20, 2024 |
| Citigroup | Lynne Collier | $209 | $172.27 | +0.6% | Sep 20, 2024 |
| UBS | Dennis Geiger | $195 | $172.27 | -6.1% | Sep 20, 2024 |
| KeyBanc | Eric Gonzalez | $194 | $170.38 | -6.6% | Sep 19, 2024 |
| Bernstein | Jeffrey Bernstein | $192 | $172.27 | -7.6% | Sep 19, 2024 |
| Bernstein | Jeffrey Bernstein | $180 | $170.82 | -13.4% | Sep 19, 2024 |
| Citigroup | Jon Tower | $191 | $170.84 | -8.1% | Sep 19, 2024 |
| Robert W. Baird | David Tarantino | $156 | $160.69 | -24.9% | Sep 16, 2024 |
| Raymond James | Brian Vaccaro | $160 | $161.1 | -23.0% | Sep 16, 2024 |
| Piper Sandler | Brian Mullan | $159 | $142.86 | -23.5% | Jul 22, 2024 |
| Jefferies | Andy Barish | $124 | $138.06 | -40.3% | Jul 11, 2024 |
| Argus Research | John Staszak | $175 | $153.09 | -15.8% | Jun 25, 2024 |
| Loop Capital Markets | Eric Gonzalez | $170 | $152.11 | -18.2% | Jun 21, 2024 |
| Stephens | Jim Salera | $165 | $152.95 | -20.6% | Jun 21, 2024 |
| Stifel Nicolaus | Chris O'Cull | $180 | $154.29 | -13.4% | Jun 21, 2024 |
| UBS | Dennis Geiger | $188 | $152.76 | -9.5% | Jun 21, 2024 |
| Raymond James | Brian Vaccaro | $167 | $152.52 | -19.6% | Jun 18, 2024 |
| Evercore ISI | David Palmer | $165 | $147.19 | -20.6% | Jun 13, 2024 |
| KeyBanc | Eric Gonzalez | $170 | $147.47 | -18.2% | Jun 13, 2024 |
| Morgan Stanley | Brian Harbour | $175 | $146.61 | -15.8% | Jun 12, 2024 |
| BTIG | Peter Saleh | $175 | $151.42 | -15.8% | May 17, 2024 |
| Truist Financial | Jake Bartlett | $185 | $163.5 | -10.9% | Mar 27, 2024 |
| Stifel Nicolaus | Chris O\'Cull | $190 | $172.87 | -8.5% | Mar 18, 2024 |
| Guggenheim | Greg Francfort | $190 | $172.87 | -8.5% | Mar 18, 2024 |
| Wells Fargo | Aaron Rakers | $95 | $163.99 | -54.3% | Dec 26, 2023 |
| Deutsche Bank | Brian Mullan | $159 | $163.09 | -23.5% | Dec 15, 2023 |
| Stifel Nicolaus | Chris O'Cull | $178 | $145.18 | -14.3% | Sep 22, 2023 |
| Raymond James | Brian Vaccaro | $165 | $151.66 | -20.6% | Sep 14, 2023 |
| Truist Financial | Jake Bartlett | $177 | $161.03 | -14.8% | Jun 23, 2023 |
| Stephens | Joshua Long | $170 | $161.26 | -18.2% | Jun 22, 2023 |
| Loop Capital Markets | Eric Gonzalez | $185 | $167.21 | -10.9% | Jun 15, 2023 |
| Loop Capital Markets | Andrew Strelzik | $150 | $151.68 | -27.8% | Mar 24, 2023 |
| Barclays | Analyst unavailable | $168 | $143.03 | -19.1% | Jan 5, 2023 |
| Stephens | Joshua Long | $150 | $138.45 | -27.8% | Dec 19, 2022 |
| Evercore ISI | Analyst unavailable | $153 | $138.7 | -26.4% | Dec 19, 2022 |
| Barclays | Analyst unavailable | $148 | $139.9 | -28.8% | Dec 19, 2022 |
| Credit Suisse | Analyst unavailable | $157 | $139.9 | -24.4% | Dec 19, 2022 |
| Wedbush | Nick Setyan | $160 | $143.95 | -23.0% | Dec 14, 2022 |
| RBC Capital | Analyst unavailable | $155 | $142.57 | -25.4% | Dec 12, 2022 |
| Barclays | Analyst unavailable | $146 | $144.23 | -29.7% | Dec 9, 2022 |
| Raymond James | Analyst unavailable | $160 | $145.65 | -23.0% | Dec 2, 2022 |
| KeyBanc | Eric Gonzalez | $150 | $129.51 | -27.8% | Oct 6, 2022 |
| Stephens | Joshua Long | $140 | $121.42 | -32.6% | Sep 23, 2022 |
| Deutsche Bank | Analyst unavailable | $129 | $121.97 | -37.9% | Sep 23, 2022 |
| RBC Capital | Analyst unavailable | $144 | $121.69 | -30.7% | Sep 23, 2022 |
| Wedbush | Nick Setyan | $134 | $125.45 | -35.5% | Sep 22, 2022 |
| Barclays | Analyst unavailable | $137 | $130.43 | -34.1% | Sep 16, 2022 |
| Citigroup | Analyst unavailable | $156 | $131.04 | -24.9% | Sep 12, 2022 |
| Deutsche Bank | Analyst unavailable | $131 | $125.36 | -36.9% | Sep 7, 2022 |
| Oppenheimer | Brian Bittner | $155 | $114.35 | -25.4% | Jul 2, 2022 |
| Credit Suisse | Lauren Siberman | $152 | $114.35 | -26.8% | Jul 2, 2022 |
| Robert W. Baird | David Tarantino | $136 | $119.02 | -34.5% | Jun 24, 2022 |
| Morgan Stanley | Analyst unavailable | $148 | $115.6 | -28.8% | Jun 24, 2022 |
| Citigroup | Analyst unavailable | $140 | $115.6 | -32.6% | Jun 24, 2022 |
| Piper Sandler | Analyst unavailable | $150 | $115.6 | -27.8% | Jun 24, 2022 |
| Stifel Nicolaus | Analyst unavailable | $135 | $115.6 | -35.0% | Jun 24, 2022 |
| Wedbush | Nick Setyan | $122 | $115.6 | -41.3% | Jun 24, 2022 |
| Barclays | Jeffrey Bernstein | $130 | $115.6 | -37.4% | Jun 24, 2022 |
| Robert W. Baird | Analyst unavailable | $146 | $114.53 | -29.7% | Jun 21, 2022 |
| UBS | Analyst unavailable | $155 | $111.84 | -25.4% | Jun 17, 2022 |
| Barclays | Analyst unavailable | $135 | $111.84 | -35.0% | Jun 17, 2022 |
| Cowen & Co. | Analyst unavailable | $140 | $111.96 | -32.6% | Jun 16, 2022 |
| Goldman Sachs | Analyst unavailable | $128 | $116.55 | -38.4% | Jun 16, 2022 |
| Raymond James | Brian Vaccaro | $136 | $114.03 | -34.5% | Jun 15, 2022 |
| MKM Partners | Analyst unavailable | $150 | $114.28 | -27.8% | Jun 14, 2022 |
| Citigroup | Analyst unavailable | $134 | $114.28 | -35.5% | Jun 14, 2022 |
| Barclays | Analyst unavailable | $143 | $124.38 | -31.2% | Jun 9, 2022 |
| Robert W. Baird | David Tarantino | $160 | $131.27 | -23.0% | Mar 24, 2022 |
| Deutsche Bank | Brian Mullan | $152 | $131.27 | -26.8% | Mar 24, 2022 |
| Cowen & Co. | Andrew Charles | $155 | $131.27 | -25.4% | Mar 24, 2022 |
| Jefferies | Andy Barish | $146 | $131.27 | -29.7% | Mar 24, 2022 |
| Stifel Nicolaus | Chris O`Cull | $160 | $131.27 | -23.0% | Mar 24, 2022 |
| Wedbush | Nick Setyan | $140 | $131.27 | -32.6% | Mar 24, 2022 |
| Oppenheimer | Brian Bittner | $175 | $132.49 | -15.8% | Mar 18, 2022 |
| KeyBanc | Eric Gonzalez | $160 | $129.32 | -23.0% | Mar 17, 2022 |
| MKM Partners | Brett Levy | $180 | $135.86 | -13.4% | Dec 20, 2021 |
| Wells Fargo | Jon Tower | $177 | $155.08 | -14.8% | Sep 24, 2021 |
| Piper Sandler | Nicole Miller Regan | $168 | $155.08 | -19.1% | Sep 24, 2021 |
| Truist Financial | Jake Bartlett | $180 | $155.86 | -13.4% | Sep 23, 2021 |
| Goldman Sachs | Jared Garber | $162 | $127.94 | -22.0% | Jun 17, 2021 |
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Start freeCompany context
Snapshot as of publicationDarden Restaurants, Inc., through its various subsidiaries, focuses on the ownership and operation of full-service dining establishments across both the United States and Canada. As of May 29, 2022, the company's extensive portfolio comprised 1,867 directly managed restaurants. These included a significant presence from its flagship brands: 884 Olive Garden outlets, 546 LongHorn Steakhouse locations, 172 Cheddar's Scratch Kitchens, 85 Yard House venues, 62 Capital Grille branches, 45 Seasons 52 restaurants, 42 Bahama Breeze sites, 28 Eddie V's Prime Seafood establishments, and 3 Capital Burger eateries. In addition to its owned operations, Darden also oversees 60 franchised restaurants, specifically 35 Olive Garden units, 18 LongHorn Steakhouse units, 4 Cheddar's Scratch Kitchens, 2 Capital Grille locations, and 1 Bahama Breeze restaurant. The company, which originated in 1968, is headquartered in Orlando, Florida.
Historical context
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Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-09-24T19:11:05.960657+00:00
- FN2 earnings calendar · 2026-09-24T01:23:14.997160+00:00
- Polygon adjusted daily market bars · 2026-09-24T19:20:55.431247+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T19:20:55.428568+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-24. For educational purposes only; not investment advice.