Categories Earnings, Retail

Darden Restaurants (DRI): Q2 2020 Earnings Snapshot

— Darden Restaurants Inc. (NYSE: DRI) reported Q2 2020 earnings of $1.12 per share, vs. $1.07 expected.

— Sales grew 4.2% to $2.06 billion, vs. $2.06 billion expected.

— Blended same-restaurant sales increased 2%.

— FY2020 total sales growth is expected to be 5.3% to 6.3%.

— FY2020 same-restaurant sales growth is expected to be 1-2%.

— FY2020 adjusted diluted EPS from continuing operations is expected to be $6.30-6.45.

— For FY2020, Darden expects approx. 50 gross and 44 net new restaurant openings.

— DRI shares fell 3% immediately following the announcement.

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