Darden Restaurants: Solid Q2 Results Reflected In Valuation (Downgrade)
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Darden Restaurants, Inc. reported strong Q2 results, with a 14% stock surge and a 28% increase since the last 'buy' rating. Revenue grew 6% to $2.9 billion, driven by same-restaurant sales, M&A, and margin recovery. Updated guidance projects $12.1 billion in sales and $9.45-$9.65 EPS, supported by a solid balance sheet, share repurchases, and a 3.5% dividend yield.
December 19, 2024 | 8:15 pm
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Darden Restaurants, Inc. reported strong Q2 results, leading to a 14% stock surge. Revenue increased by 6% to $2.9 billion, driven by same-restaurant sales, M&A, and margin recovery. The company updated its guidance, projecting $12.1 billion in sales and $9.45-$9.65 EPS, supported by a solid balance sheet, share repurchases, and a 3.5% dividend yield.
The strong Q2 results and positive updated guidance indicate a robust financial performance, which is likely to positively impact Darden's stock price in the short term. The company's solid balance sheet, share repurchases, and attractive dividend yield further support investor confidence.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100