Darden Q1 EPS falls to $1.56 from $1.76; revenue up 6.1% to $2.4B; reaffirms FY2023 outlook

DARDEN RESTAURANTS INC

2023-Q1 EPS reported $1.56 revenue$2,446,100,000

Diluted EPS of $1.56 vs $1.76 a year ago; revenue $2.4B (+6.1%).
Blended same-restaurant sales +4.2%; Olive Garden +2.3%, LongHorn +4.2%.
Board declared quarterly dividend of $1.21/share, payable Nov 1 to holders of record Oct 10.
Repurchased ~1.7M shares for $199M; $912M remains under $1B authorization.
Reaffirmed FY2023 outlook: sales $10.2-10.4B, EPS $7.40-8.00, 55-60 new restaurants.

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