Darden Restaurants Reiterates FY24 Outlook - Update

RTTNews | 538 days ago
Stocktwits
Darden Restaurants Reiterates FY24 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, restaurant company Darden Restaurants, Inc. (DRI) reiterated its earnings guidance for the full year 2024. The company also reported blended same-restaurant sales increase of 5.0% and the addition of 46 net new restaurants in the first quarter.

For the fiscal 2024, the company continues to project net earnings from continuing operations in the range of $8.55 to $8.85 per share, including Ruth's Chris operating results, but excluding approximately $55 million, pre-tax, of expected transaction and integration related costs.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.74 per share for the year. Analysts' estimates typically exclude special items.

Darden's Board of Directors also declared a regular quarterly cash dividend of $1.31 per share on the Company's outstanding common stock, payable on payable on November 1, 2023 to shareholders of record at the close of business on October 10, 2023.

On Wednesday, Darden's Board of Directors unanimously elected Cynthia (Cindie) T. Jamison as Chair of the Board, succeeding Eugene Lee, Jr. who, as previously announced, retired from service as a director of the Company on that date.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: DRI
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Darden Restaurants Lifts FY25 Sales Forecast After Q2 Beats Market; Stock Climbs

Darden Restaurants Lifts FY25 Sales Forecast After Q2 Beats Market; Stock Climbs

Shares of Darden Restaurants Inc. were gaining more than 9 percent in the pre-market activity on the NYSE after the company maintained its fiscal 2025 earnings view, and lifted sales forecast to reflect the recently acquired Chuy's operating results. In its second quarter, profit and sales increased and beat market estimates.
RTTNews | 83 days ago
Darden Restaurants Q3 Adj. EPS Meets Estimates, Sales Miss

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Restaurant company Darden Restaurants reported Thursday that profit for the third quarter increased from last year, driven by sales growth across all segments. Adjusted earnings per share met analysts' estimates, while quarterly sales missed it. The company also raised its adjusted earnings guidance for the full-year 2024, while trimming annual sales and same-restaurant sales growth outlook.
RTTNews | 355 days ago
European Shares Climb After Ukraine's Ceasefire Agreement

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European stocks advanced on Wednesday after Ukraine signaled its readiness to accept a U.S. proposal for an "immediate, interim 30-day ceasefire" with Russia, and the European Union announced retaliatory tariffs on U.S. imports of steel and aluminum.
RTTNews | 4h 31min ago
Asian Markets Mixed Amid Cautious Trades

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Asian stock markets are trading mixed on Wednesday, following the negative cues from Wall Street overnight, as traders remain cautious amid the rising uncertainty around U.S. President Donald Trump's trade policies and the outlook for inflation and economic growth due to the ongoing trade war. Traders also look to pick up some stocks at reduced levels following the recent slump in the markets.
RTTNews | 10h 0min ago
Australian Market Maintains Early Losses In Mid-market

Australian Market Maintains Early Losses In Mid-market

The Australian stock market is maintaining its early losses in mid-market trading on Wednesday, extending the losses in the previous two sessions, with the benchmark S&P/ASX 200 falling below the 7,800 level, following the broadly negative cues from Wall Street overnight, with weakness across most sectors led by iron ore miners and financial stocks. Gold stocks were the only bright spot.
RTTNews | 10h 36min ago
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