Darden's (DRI) Q4 Earnings & Revenues Surpass Estimates

Fiscal-2018 Highlights

Total revenues in the fiscal increased 12.7% year over year to $8.08 billion. The company’s legacy brand posted blended comps growth of 2.3% whereas comps at Cheddar’s declined 2%.

Fiscal 2018 adjusted earnings per share came in at $4.81, up 19.7% from fiscal 2017.

Fiscal-2019 Outlook

For fiscal 2019, the company expects total revenues to grow in the range of 4-5%. Comps are projected to increase by 1-2%. Darden plans to open 45-50 new restaurants. With an anticipated inflation rate of 2% and effective tax rate in the band of 11-12%, Darden diluted earnings per share to be in the range of $5.40-$5.56.

Zacks Rank & Stocks to Consider

Currently, Darden carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the industry include Dine Brands (DIN - Free Report), BJ's Restaurants (BJRI - Free Report) and Wingstop (WING - Free Report), each sporting a Zacks Rank #1 (Strong Buy). 

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