Darden Q4 sales up 14.2% to $2.6B; EPS $2.24; dividend raised 10%; new $1B buyback; FY23 EPS guidance $7.40-$8.00

DARDEN RESTAURANTS INC

2022-FY EPS reported $7.39 revenue$9,630,000,000

Total sales $2.60B (+14.2%); same-restaurant sales +11.7%: Olive Garden +6.5%, LongHorn +10.6%, Fine Dining +34.5%.
Reported diluted EPS $2.24 (vs $2.79 prior year); net earnings $282M; EBITDA $431M.
Quarterly dividend increased 10% to $1.21/share, payable Aug 1, 2022 to holders of record July 8, 2022.
Board authorized new $1B share repurchase program (no expiration); Q4 repurchases $237M (1.8M shares).
FY2023 outlook: total sales $10.2-$10.4B, same-store sales +4-6%, diluted EPS $7.40-$8.00, inflation ~6%, 55-60 new restaurants.

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