Darden Restaurants, Inc. (NYSE:DRI) Q1 2025 Results Conference Call September 19, 2024 8:30 AM ET
Company Participants
Courtney Aquilla - Investor Relations
Rick Cardenas - President and Chief Executive Officer
Raj Vennam - Senior Vice President and Chief Financial Officer
Conference Call Participants
Brian Bittner - Oppenheimer
Brian Harbour - Morgan Stanley
Jon Tower - Citi
Eric Gonzalez - KeyBanc Capital Markets
Jeffrey Bernstein - Barclays
David Palmer - Evercore ISI
David Tarantino - Baird
Chris O'Cull - Stifel
Jim Salera - Stephens
Jake Bartlett - Truist Securities
Katherine Griffin - Bank of America
Peter Saleh - BTIG
Gregory Francfort - Guggenheim Securities
Jeff Farmer - Gordon Haskett
Danilo Gargiulo - Bernstein
Lauren Silberman - Deutsche Bank
Andy Barish - Jefferies
John Ivankoe - JPMorgan
Jim Sanderson - North Coast Research
Brian Vaccaro - Raymond James
Operator
Hello, and welcome to the Darden Fiscal Year 2025 First Quarter Earnings Call. Your lines have been placed on a listen-only mode until the question-and-answer session. [Operator Instructions] This conference is being recorded. If you have any objections, please disconnect at this time.
I'll now turn the call over to Mr. Courtney Aquilla. Thank you, Courtney. You may begin.
Courtney Aquilla
Thank you, Kevin. Good morning, everyone, and thank you for participating on today's call. Joining me are Rick Cardenas, Darden's President and CEO; and Raj Vennam, CFO.
As a reminder, comments made during this call will include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections.
Those risks are described in the company's press release, which was distributed this morning and in its filings with the Securities and Exchange Commission. We are simultaneously broadcasting a presentation during this call, which is posted in the Investor Relations section of our website at darden.com.
Today's discussion and presentation include certain non-GAAP measurements and reconciliations of these measurements are included in the presentation. Looking ahead, we plan to release fiscal 2025 second quarter earnings on Thursday, December 19th before the market opens followed by a conference call.
During today's call any reference to industry results refer to the Black Box Intelligence’s casual dining benchmark, excluding Darden. During our fiscal first quarter, industry same-restaurant sales decreased 2.5% and industry same-restaurant guest counts decreased 5.4%.
This morning, Rick will share some brief remarks on the quarter and discuss some of the actions our brands are taking in response to the current environment. And Raj will provide details on our first quarter results and an update on the Chuy's acquisition.