Darden Restaurants, Inc. Posts Lower Q4 Earnings; Misses Estimates; Stock Falls (DRI)

Before the opening bell on Friday morning, Darden Restaurants (DRI) reported its fourth quarter results, posting higher revenues and lower earnings than last year’s fourth quarter.

DRI’s Earnings in Brief

Darden Restaurants reported fourth quarter revenues, including discontinued operations, of $2.32 billion, just above last year’s Q4 revenues of $2.3 billion. Net earnings for the quarter came in at $86.5 million, or 65 cents per share, which is down substantially from last year’s Q4 figure of $133.2 million, or $1.03 per share. DRI missed analysts’ estimates of 94 cents EPS on revenues of $2.33 billion.

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DRI Declares Dividend

Darden Restaurants did not announce a raise to its dividend, as was expected, and instead declared a dividend of 55 cents. The dividend is payable on August 1 to all shareholders of record as of July 10.

Stock Performance

Darden stock was down $1.91, or 3.86%, in pre-market trading. YTD, the stock is down 7.13%.

DRI Dividend Snapshot

As of Market Close on June 19, 2014

Click here to see the complete history of DRI dividends.