Darden Q3 sales $2.8B (+13.8%), EPS $2.34 (+21.2%), raises FY2023 EPS guidance to $7.85-8.00

DARDEN RESTAURANTS INC

2023-Q3 EPS reported $5.41 revenue$7,718,800,000

Total sales $2.79B (+13.8% YoY); blended same-restaurant sales +11.7% (Olive Garden +12.3%, LongHorn +10.8%).
Diluted EPS $2.34, up 21.2% from $1.93; net earnings increased to $290M from $244M last year.
Board declared $1.21/share quarterly dividend, payable May 1, 2023 to holders of record April 10, 2023.
Repurchased $124M in common stock (~0.87M shares) in Q3; $687M remaining under $1B authorization.
Updated FY2023 outlook: sales $10.45-10.5B, same-restaurant sales +6.5-7%, diluted EPS $7.85-8.00.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DARDEN RESTAURANTS INC reported the third quarter ended February 26, 2023 results: revenue $2.8 billion, EPS $2.34.

Period: the third quarter ended February 26, 2023
Revenue: $2.8 billion
EPS: $2.34
Result: reported results

Exact text from the filing

Third Quarter 2023 Financial Highlights • Total sales increased 13.8% to $2.8 billion driven by a blended same-restaurant sales increase of 11.7% and sales from 35 net new restaurants • Same-restaurant sales: Consolidated Darden 11.7% Olive Garden 12.3% LongHorn Steakhouse 10.8% Fine Dining 11.7% Other Business 11.7% • Reported diluted net earnings per share increased 21.2% to $2.34 as compared to last year's reported diluted net earnings per share

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Source: SEC EDGAR

accession 0000940944-23-000012

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