Darden Restaurants Reports Fiscal 2021 Third Quarter Results; Announces Team Member Investments; Declares Quarterly Dividend; Authorizes New $500 Million Share Repurchase Program; And Provides Fiscal

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Darden Restaurants (DRI) Tops Q3 EPS by 29c, Revenues Beat, Blended SSS Down 26.7%; Offers 4Q EPS/Revenue Guidance Above Consensus

March 25, 2021 7:04 AM EDT

Darden Restaurants (NYSE: DRI) reported Q3 EPS of $0.98, $0.29 better than the analyst estimate of $0.69. Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.63 billion.

Total sales of $1.73 billion, a decrease of 26.1% driven by negative blended same-restaurant sales of 26.7%, partially offset by the addition of 10 net new restaurantsReported diluted net earnings per share from continuing operations were $0.98 as compared to last year's reported diluted net earnings per share of $1.90Reported net earnings from continuing operations were $129 millionEBITDA of $236... More