Darden Restaurants (NYSE:DRI) reported its Q1 results, with EPS coming in at $1.56, in line with the Street estimate. Revenue was $2.4 billion, slightly missing the Street estimate of $2.47 billion.
The company expects full 2023-year EPS to be in the range of $7.40-$8.00, compared to the street estimate of $7.70, and revenue in the range of $10.2-10.4 billion, compared to the Street estimate of $10.29 billion.
While EPS met expectations, and the company reaffirmed its 2023 guidance, softer than expected Olive Garden trends and margins weighed on shares.
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