Darden Restaurants (DRI) Tops Q4 EPS by 2c; Comps Growth Outpaces; FY17 EPS Outlook Light of Views

(Updated - June 30, 2016 7:15 AM EDT)

Darden Restaurants (NYSE: DRI) reported Q4 EPS of $1.10, $0.02 better than the analyst estimate of $1.08. Revenue for the quarter came in at $1.79 billion versus the consensus estimate of $1.81 billion.

Comps rose 2.6 percent versus expectations of a 2.5 percent gain.

Fiscal 2017 Financial Outlook

• Same-restaurant sales growth of 1.0% to 2.0%
• New unit openings of 24 to 28 restaurants
• Total capital spending of $310 to $350 million
• Total inflation of 1.5% to 2.0%
• Earnings per diluted share of $3.80 to $3.90. (The Street sees EPS of $3.99.)
• The EPS outlook reflects approximately 128.5 million diluted average common shares outstanding for the year

For earnings history and earnings-related data on Darden Restaurants (DRI) click here.

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