Darden Restaurants (DRI) Tops Q3 EPS by 7c
Darden Restaurants (NYSE: DRI) reported Q3 EPS of $1.71, $0.07 better than the analyst estimate of $1.64. Revenue for the quarter came in at $2.13 billion versus the consensus estimate of $2.14 billion.
- Blended same-restaurant sales from Darden's legacy brands increased 2.0%
GUIDANCE:
Darden Restaurants sees FY2018 EPS of $4.75-$4.80, versus the consensus of $4.76.
The Company increased its financial outlook for Fiscal 2018 based on year-to-date results and its expected performance in the fourth quarter.
Current (03/22/18) | Prior (01/08/18) | |
Same-restaurant sales growth | Approx. 2% | Approx. 2% |
New restaurant openings | Approx. 40 | Approx. 40 |
Total sales growth | Approx. 13% | Approx. 13% |
Effective tax rate | 16.0% to 16.5% | Approx. 18% |
Adjusted diluted net earnings per share from continuing operations* | $4.75 to $4.80 | $4.70 to $4.78 |
Diluted average common shares outstanding for the year | Approx. 126M | Approx. 126M |
For earnings history and earnings-related data on Darden Restaurants (DRI) click here.