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Earnings Reaction Rollercoaster: Darden Restaurants Dips, FactSet Rises

  • June 22nd, 2023
  • 284 views

Darden Restaurants, Inc. (NYSE: DRI) delivered solid financial results for the fourth quarter of fiscal 2023. 

While the earnings per share (EPS) of $2.58 slightly surpassed the consensus estimate of $2.54, the company reported quarterly sales of $2.769 billion, just shy of the expected $2.77 billion in revenue.

Looking ahead to fiscal 2024, the company projects an adjusted EPS from continuing operations in the range of $8.55 to $8.85, with the consensus estimate at $8.78 for the period.

In a notable announcement, Eugene I. Lee, Jr., Chairman of the Board of Directors at Darden Restaurants, revealed his decision to retire and not seek re-election at the Company's upcoming 2023 Annual Meeting.

In pre-market, $DRI is trading at $159.00, down $7.41 (-4.45%).

Moving on to FactSet Research Systems Inc. (NYSE: FDS), the company reported strong performance in the third quarter of fiscal 2023. The adjusted EPS of $3.79 exceeded the consensus estimate of $3.61.

FactSet has also updated its outlook for the full fiscal year 2023, raising its adjusted diluted EPS guidance to a range of $14.75 to $15.15. This represents a $0.25 increase at the midpoint from the previous guidance of $14.50 to $14.90. The consensus estimate for the period stands at $14.88.

$FDS is currently trading at $427.00 in pre-market, up $3.66 (+0.86%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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