Darden Restaurants, Inc. stock research
FY2024 Q2
Darden Restaurants (DRI) Gross Margin — Quarter Ended Nov 26, 2023
Revenue remained stable compared to the prior quarter, while gross profit declined slightly, causing gross margin to weaken. Relative to the same quarter last year, both revenue and gross profit increased, and gross margin improved.
Gross margin takeaway
Quarter ended Nov 26, 2023 · FY2024 Q2
Revenue remained stable compared to the prior quarter, while gross profit declined slightly, causing gross margin to weaken. Relative to the same quarter last year, both revenue and gross profit increased, and gross margin improved.
- The most notable margin driver was the year-over-year improvement in gross margin, as gross profit rose more than revenue.
- Compared to the prior quarter, gross margin weakened slightly, while compared to the same quarter last year, it improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
18.8%
Gross profit
$513.3M
Revenue
$2.7B
Cost of revenue
$2.2B
Quarter-over-quarter change
-0.2 pts
Year-over-year change
+2.3 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Feb 26, 2023 | $2.8B | $556.5M | $2.2B | 20.0% |
| May 28, 2023 | $2.8B | $599.7M | $2.2B | 21.7% |
| Aug 27, 2023 | $2.7B | $519.1M | $2.2B | 19.0% |
| Nov 26, 2023 | $2.7B | $513.3M | $2.2B | 18.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Aug 27, 2023
-0.2 pts
Year-over-year change
Nov 27, 2022
+2.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most notable margin driver was the year-over-year improvement in gross margin, as gross profit rose more than revenue.
Compared to the prior quarter, gross margin weakened slightly, while compared to the same quarter last year, it improved.
Monitor the sequential weakening of gross margin, especially given that revenue was unchanged.