Darden Restaurants Guides FY22 In Line With View; Raises Dividend 25% - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, restaurant company Darden Restaurants, Inc. (DRI) provided earnings and sales guidance for the full year 2022, in line with analysts' estimates.

For the fiscal 2022, the company now projects net earnings from continuing operations in a range of $7.00 to $7.50 per share on total sales of between $9.2 billion and $9.5 billion, with same-restaurant sales of 25 to 29 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.21 per share on total sales of $9.22 billion for the year. Analysts' estimates typically exclude special items.

Darden's Board of Directors also declared a 25 percent regular quarterly cash dividend of $1.10 per share on the Company's outstanding common stock, payable on payable on August 2, 2021 to shareholders of record at the close of business on July 9, 2021.