Key Developments: Darden Restaurants Inc (DRI.N)
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Latest Key Developments (Source: Significant Developments)
Darden Restaurants Inc Updates FY 2013 Revenue Guidance; Reaffirms FY 2013 EPS Guidance-Conference Call
Darden Restaurants Inc announced that for fiscal 2013, it expects total sales of approximately $8.5 billion and diluted net earnings per share (EPS) of $3.06-$3.22, which includes approximately $0.09 of expenses related to the Yard House acquisition. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.51 billion and EPS of $3.15 for fiscal 2013. Full Article
Darden Restaurants Inc Reaffirms FY 2013 Guidance-Conference Call
Darden Restaurants Inc announced that for fiscal 2013, it expects total sales growth of between 6% and 7%, and that diluted net earnings per share (EPS) growth from continuing operations to be between $3.06 and $3.22. The Company reported revenue of $7.999 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.517 billion and EPS of $3.16 for fiscal 2013. Full Article
Darden Restaurants Inc Declares Quarterly Cash Dividend
Darden Restaurants Inc announced that the Board of Directors declared a quarterly cash dividend of 50 cents per share on the Company's outstanding common stock. The dividend is payable on May 1, 2013 to shareholders of record at the close of business on April 10, 2013. Full Article
Darden Restaurants Inc Revises FY 2013 Revenue Guidance To A Range In Line With Analysts' Estimates; Reaffirms FY 2013 EPS Guidance-Conference Call
Darden Restaurants Inc announced that for fiscal 2013, it expects sales to be approximately $8.5 billion and diluted net earnings per share of $3.06 to $3.22, which includes approximately $0.09 of expenses related to the Yard House acquisition. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.5 billion and EPS of $3.15 for fiscal 2013. Full Article
Darden Restaurants Inc Issues Q3 2013 EPS Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance
Darden Restaurants Inc announced that it expects diluted net earnings per share from continuing operations for the third quarter of 2013, to be approximately $1.00 to $1.02. Based on estimated results for third quarter, it has updated financial outlook for fiscal 2013 and anticipates total sales growth of between +6% and +7%, which reflects combined U.S. same-restaurant sales for the year for Red Lobster, Olive Garden and LongHorn Steakhouse that is now expected to be between -1.5% to -2.5%, incremental sales starting in fiscal September from the acquisition of Yard House. The Company expects diluted net earnings per share from continuing operations for fiscal 2013 to be between $3.06 to $3.22, which includes approximately 9 cents of transaction and closing costs associated with the purchase of Yard House. The Company reported revenue of $7.999 billion and EPS of $3.58 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.593 billion and EPS of $3.37 for fiscal 2013; EPS of $1.13 for the third quarter of 2013. Full Article
Darden Restaurants Inc Enters Into Deal With International Meal Company Holdings SA To Develop Restaurants In Four Latin American Countries-DJ
Dow Jones reported that Darden Restaurants Inc reached an agreement with Latin-America based casual-dining firm International Meal Company Holdings SA to develop 57 restaurants under the U.S. restaurant chain's brands in Brazil, Colombia, the Dominican Republic and Panama. International Meal, which operates restaurants under several brands, has a focus in Brazil, Colombia, the Dominican Republic and Panama that makes them the ideal partner for these markets. The planned restaurants will operated under the Red Lobster, Olive Garden and LongHorn Steakhouse brands. Financial terms weren't disclosed. Full Article
Darden Restaurants Inc Declares Quarterly Dividend
Darden Restaurants Inc announced that the board of directors have declared a quarterly dividend of $0.50 per share on the Company's outstanding common stock. The dividend is payable on February 1, 2013 to shareholders of record at the close of business on January 10, 2013. Full Article
Darden Restaurants Inc Reaffirms FY 2013 Guidance
Darden Restaurants Inc affirmed its financial outlook for fiscal 2013. The Company anticipates total sales growth of between +7.5% and +8.5% for fiscal 2013, based upon combined U.S. same-restaurant sales of approximately -1.0% to flat for Red Lobster, Olive Garden and LongHorn Steakhouse, incremental sales starting in fiscal September from the acquisition of Yard House and the opening of approximately 100 net new restaurants in fiscal 2013, not including the initial 40 Yard House restaurants operating at the close of the acquisition. And, the Company expects diluted net earnings per share from continuing operations of $3.29 to $3.49 for fiscal 2013, which includes approximately 8 to 10 cents of transaction and closing costs associated with the purchase of Yard House USA, Inc. The Company reported revenue of $7.999 billion and EPS of $3.58 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.59 billion and EPS of $3.39 for fiscal 2013. Full Article
Darden Restaurants Inc Issues Q2 2013 EPS guidance
Darden Restaurants Inc announced that it expects diluted net earnings per share (EPS) from continuing operations of approximately $0.25 to $0.26 for second quarter of 2013. Full Article
Darden Restaurants Inc Reaffirms FY 2013 Guidance
Darden Restaurants Inc announced that for fiscal 2013, it continues to expect total sales growth to be between 9% and 10% and anticipates that diluted net earnings per share growth from continuing operations to be between 5% and 9%. The Company reported revenue of $7.999 billion and EPS of $3.58 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.74 billion and EPS of $3.84 for fiscal 2013. Full Article
UPDATE 1-Olive Garden parent Darden to offer cheaper menu options
* Says consumers adjusting to higher payroll taxes, gasoline
Earnings vs. 
Estimates
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