On Tuesday, Dec. 19, Darden Restaurants
- Sales grew 4.5% to $1.4 billion thanks to rising same-store sales at Olive Garden and Red Lobster and new store openings at Olive Garden and Smokey Bones.
- Total diluted earnings grew 17.1% because of increased profitability and fewer shares outstanding.
- For fiscal 2007, management is projecting 10%-12% diluted earnings per share growth.
(Figures in thousands, except per-share data)
Income Statement Highlights
Q2 2006 |
Q2 2005 |
Change |
|
---|---|---|---|
Sales |
$1,385,299 |
$1,325,093 |
4.5% |
Net Profit |
$61,662 |
$55,057 |
12.0% |
EPS |
$0.41 |
$0.35 |
17.1% |
Diluted Shares |
150,700 |
156,200 |
(3.5%) |
Get back to basics with a look at the income statement.
Margin Checkup
Q2 2006 |
Q2 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
70.8% |
70.5% |
0.3 |
Operating Margin |
6.9% |
7.0% |
(0.1) |
Net Margin |
4.5% |
4.2% |
0.3 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets | Q2 2006 | Q2 2005 | Change |
---|---|---|---|
Cash + ST Invest. | $38,400 | $82,536 | (53.5%) |
Accounts Rec. | $36,831 | $38,066 | (3.2%) |
Inventory | $284,091 | $247,353 | 14.9% |
Liabilities | Q2 2006 | Q2 2005 | Change |
---|---|---|---|
Accounts Payable | $214,890 | $209,767 | 2.4% |
Long-Term Debt | $493,174 | $645,830 | (23.6%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
Fools will have to wait until Darden files its 10-Q for juicy cash flow details. Boo!
Find out why Fools always follow the money.
Related Companies:
- Brinker
(NYSE:EAT) - Applebee's
(NASDAQ:APPB) - OSI Restaurant Partners
(NYSE:OSI)
Related Foolishness:
- Foolish Fundamentals: Margins
- Foolish Fundamentals: Free Cash Flow
- Foolish Fundamentals: Return on Invested Capital
- Foolish Fundamentals: The Cash Flow Statement
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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so checkFool.com for more of our in-depth discussion of what the numbers mean.
Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.