BUZZ-Darden Restaurants falls on annual profit forecast below estimates

Darden Restaurants, Inc.

Darden Restaurants, Inc.

DRI

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** Shares of Darden Restaurants DRI.N fell 3% to $208.99 premarket

** The Olive Garden parent forecasts full-year profit below Wall Street estimates as higher input costs and increased marketing expenses weighed on margins amid persistent inflationary pressure

** DRI says expects annual EPS from continuing operations between $11.10 and $11.35; analysts on average expected $11.40 per share - data compiled by LSEG

** Logs Q4 sales of $3.72 billion, missing analysts' estimate of $3.73 billion

** Q4 adjusted profit from continuing operations of $3.66 per share beat estimates of $3.63 per share

** As of last close, stock up ~16% YTD