Darden Raises FY19 Financial Outlook – Quick Facts

Darden Restaurants, Inc., (DRI) announced, for fiscal 2019, the company now expects net earnings per share from continuing operations in a range of $5.52 – $5.65, up from prior guidance range of $5.40 – $5.56. Same-restaurant sales growth are now projected to be in a range of 2.0% to 2.5%, revised from prior outlook range of 1.0% to 2.0%.

For the first-quarter, reported net earnings per share from continuing operations increased 41.1% to $1.34 and increased 35.4% from last year’s adjusted diluted net earnings per share. Total sales increased 6.5% to $2.06 billion, including 3.2% growth from the addition of 52 net new restaurants. Blended same-restaurant sales increased 3.3%, for the quarter.

Darden’s Board declared a regular quarterly cash dividend of $0.75 per share on the company’s outstanding common stock. The dividend is payable on November 1, 2018 to shareholders of record at the close of business on October 10, 2018.

by RTTNews Staff Writer

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