Darden Restaurants down after missing quarterly profit expectations

** Shares of Olive Garden parent Darden Restaurants DRI.N fall as much as 9.7% to $188.63 in early trade

** Stock set for its worst day since March 2022, if losses hold

** Co misses Q1 profit estimates, posts adjusted EPS of $1.97 vs. estimates of $2, while sales of $3.04 billion in line with expectations - data compiled by LSEG

** Casual dining restaurants are facing demand concerns due to macroeconomic uncertainty, while battling rising input costs

** Co reiterates annual adjusted EPS expectations of $10.50 to $10.70, largely below estimates of $10.68

** DRI now expects annual sales to grow 7.5% to 8.5%, compared to the previous 7% to 8% forecast, but largely below analysts' average estimate of 8.3%

** Up to last close, stock has risen ~12% YTD