Darden Restaurants (NYSE: DRI) reported Q4 EPS of $1.39, $0.04 better than the analyst estimate of $1.35. Revenue for the quarter came in at $2.13 billion versus the consensus estimate of $2.13 billion.

Fourth Quarter 2018 Financial Highlights Versus Same Fiscal Quarter Last Year

• Total sales from continuing operations increased 10.3% to $2.13 billion
• Blended same-restaurant sales from Darden\'s legacy brands increased 2.2%Same-restaurant sales for Cheddar\'s Scratch Kitchen were -4.7%
• Reported diluted net earnings per share from continuing operations increased 41.4% to $1.40
• Adjusted diluted net earnings per share from continuing operations increased 17.8% to $1.39*
• Repurchased approximately $27 million of outstanding common stock

"Our strong operating model generates substantial cash flows, which enables us to invest in our businesses and continue our history of returning significant cash to our shareholders," said CFO Rick Cardenas. "In fiscal 2018 we returned $550 million to shareholders in the form of dividends and share repurchases, and more than $1.5 billion over the past three years."

Fiscal 2019 Financial Outlook

• Same-restaurant sales growth of 1.0% to 2.0%
• New restaurant openings of 45 to 50 restaurants
• Total sales growth of 4.0% to 5.0%
• Total capital spending of $425 to $475 million
• Total inflation of approximately 2.0%
• Effective tax rate of 11% to 12%
• Diluted net earnings per share from continuing operations of $5.40 to $5.56
• Approximately 125 million weighted average diluted shares outstanding

GUIDANCE:

Darden Restaurants sees FY2019 EPS of $5.40-$5.56, versus the consensus of $5.41.

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