Shares of Darden Restaurants (DRI) ended Tuesday's trading session with losses of 9.6%. The company issued disappointing preliminary second quarter results before the market open. The poor results, prompted the company in lowering its full year outlook.
Preliminary Second Quarter Results
Darden Restaurants reported that it expects diluted earnings per share of $0.25-$0.26 for its second quarter of its fiscal 2013. In the quarter ending last week, the company took some charges. The acquisition of Yard House will negatively impact earnings by five cents per share. Hurricane Sandy will have an adverse effect of one cent on earnings per share.
No comments:
Post a Comment