Darden Restaurants (DRI) Tops Q3 EPS by 2c

Darden Restaurants (NYSE: DRI) reported Q3 EPS of $1.21, $0.02 better than the analyst estimate of $1.19. Revenue for the quarter came in at $1.85 billion versus the consensus estimate of $1.84 billion.

Same-restaurant sales increased 6.2% for the fiscal quarter.

"Our strong same-restaurant sales reinforce that our strategy is working as we continued to profitably grow market share during the quarter," said CEO Gene Lee. "Our teams are building loyalty every day with better guest experiences and improved value. Operating margins increased this quarter as we leveraged our sales growth and remained focused on disciplined cost management. Additionally, we returned over $200 million to shareholders through dividends and share repurchases this quarter."

GUIDANCE:

Darden Restaurants sees FY2016 EPS of $3.48-$3.52, versus the consensus of $3.49. This reflects the expectation that the Company's combined U.S. same-restaurant sales growth this fiscal year will be 3.0% to 3.5%.

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

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