Tuesday, June 27, 2023

Darden Issues FY24 Guidance Lifts Quarterly Dividend; Board Chairman To Retire

Darden Restaurants, Inc. (DRI) said, for fiscal 2024, the company estimates adjusted net earnings per share from continuing operations of $8.55 to $8.85, excluding approximately $0.34, after-tax, of Ruth's Chris integration related expenses. The company targets total sales of $11.5 to $11.6 billion in fiscal 2024. Same-restaurant sales growth is projected in a range of 2.5% to 3.5%. Darden targets new restaurant openings of approximately 50. The company's projected total capital spending for the fiscal year is in a range of $550 to $600 million.

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