DRI Q3 2018 Earnings Report — Darden Restaurants, Inc. Revenue & Financial Results | Market Cap Arena

Darden Restaurants, Inc.DRI

Q3 2018 Earnings

Reported April 3, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2018	Q2 2018	Q3 2017	QoQ Change	YoY Change
Revenue	$2.1B	—	$1.9B	—	13.3%
Op. Income	$233M	—	$230M	—	1.7%
Gross Margin	22.6%	—	23.3%	—	-0.7pp
Net Margin	10.2%	—	8.8%	—	1.4pp
EPS (Diluted)	$1.73	—	$1.32	—	31.1%
Free Cash Flow	$326M	—	$323M	—	1.1%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.6B
GROSS PROFIT	$481M
R&D Expenses	$0
Selling & Marketing	$59M
General & Administrative	$110M
SG&A Expenses	$169M
Other Expenses	$79M
Operating Expenses	$248M
Cost & Expenses	$1.9B
OPERATING INCOME	$233M
Interest Income	$0
Interest Expense	$117M
Other Income/Expenses	-$117M
INCOME BEFORE TAX	$116M
Income Tax Expense	-$103M
Net Income from Continuing Ops	$219M
Net Income from Discontinued Ops	-$700.0K
Other Adjustments	$0
NET INCOME	$218M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$218M
D&A	$79M
EBIT	$233M
EBITDA	$312M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.6B
GROSS PROFIT	$481M
R&D Expenses	$0
Selling & Marketing	$59M
General & Administrative	$110M
SG&A Expenses	$169M
Other Expenses	$79M
Operating Expenses	$248M
Cost & Expenses	$1.9B
OPERATING INCOME	$233M
Interest Income	$0
Interest Expense	$117M
Other Income/Expenses	-$117M
INCOME BEFORE TAX	$116M
Income Tax Expense	-$103M
Net Income from Continuing Ops	$219M
Net Income from Discontinued Ops	-$700.0K
Other Adjustments	$0
NET INCOME	$218M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$218M
D&A	$79M
EBIT	$233M
EBITDA	$312M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$219M
Depreciation & Amortization	$79M
Stock-Based Compensation	$18M
Deferred Income Tax	-$47M
Other Non-Cash Items	$140M
Change in Working Capital	$19M
OPERATING CASH FLOW	$428M
Capital Expenditure	-$102M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$400.0K
NET CASH FROM INVESTING	-$101M
Net Debt Issuance	-$213M
Common Stock Repurchased	-$19M
Common Dividends Paid	-$78M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$295M
FREE CASH FLOW	$326M
Net Change in Cash	$32M

Balance Sheet

Item	Amount
Cash & Equivalents	$147M
Short-Term Investments	$0
Net Receivables	$51M
Inventory	$208M
Other Current Assets	$102M
TOTAL CURRENT ASSETS	$570M
PP&E (Net)	$2.4B
Goodwill	$1.2B
Intangible Assets	$950M
Long-Term Investments	-$106M
Tax Assets	$106M
Other Non-Current Assets	$348M
TOTAL NON-CURRENT ASSETS	$4.9B
TOTAL ASSETS	$5.5B
Account Payables	$292M
Short-Term Debt	$51M
Deferred Revenue	$457M
Other Current Liabilities	$512M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$926M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$936M
TOTAL NON-CURRENT LIABILITIES	$1.9B
TOTAL LIABILITIES	$3.3B
Common Stock	$1.6B
Additional Paid-In Capital	$0
Retained Earnings	$586M
Treasury Stock	-$8M
Accum. Other Comp. Income	-$80M
Other Equity	-$2M
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$5.5B
Total Debt	$977M
Net Debt	$830M