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Darden lifts profit guidance

Published 12/18/2018, 07:11 AM
© Reuters.  Darden lifts profit guidance
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  • Darden Restaurants (NYSE:DRI) edges EPS estimates with its FQ2 earnings report on total sales growth of 4.9%.
  • Darden reports comparable sales were up 3.5% during the quarter, off a 1.9% gain in pricing and 2.4% positive contribution from menu-mix. Same-restaurant traffic was down 0.8%.
  • Comparable sales by chain: Olive Garden +3.5% vs. +3.4% consensus, LongHorn +2.9%, +3.7% Capital Grille, +0.9% Eddie V's, -4.0% Cheddar Scratch Kitchen, -1.1% Yard House, -0.8% Seasons 52, -1.1% Bahama Breeze.
  • Looking ahead, Darden expects same-restaurant sales growth of 2.5% in FY19 and EPS of $5.60 to $5.70 vs. $5.52 to $5.65 prior and $5.65 consensus.
  • DRI +0.15% premarket to $98.91
  • Previously: Darden Restaurants beats by $0.01, misses on revenue (Dec. 18)
  • Now read: Costco (NASDAQ:COST) shows off strong comparable sales


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