Darden Restaurants (NYSE:DRI) reported its Q3 results on Thursday, with EPS coming in at $2.34, above the Street estimate of $2.23. Revenue was $2.8 billion, beating the Street estimate of $2.73 billion.
And while commodity inflation remains stubbornly elevated, the trend remains encouraging, with the company pointing to its food basket moderating to low-single-digit inflation in 2024.
The company provided its outlook for the full 2023 year, expecting EPS in the range of $7.85-$8.00, compared to the Street estimate of $7.85 Revenue is seen at $10.45-10.5 billion, compared to the Street estimate of $10.42 billion.