— 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%.
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— 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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