Orlando, Fla. – Darden Restaurants Inc., the parent company of Olive Garden and several other dining chains, released its fiscal first‑quarter results on Thursday. The restaurant group reported net income of $233.4 million, which translates to earnings of $2.04 per share on a basic basis.
When adjusted for discontinued operations, earnings rose slightly to $2.05 per share. Although the company posted solid revenue of $3.2 billion, the earnings figure did not meet Wall Street expectations. Analysts surveyed by Zacks Investment Research had projected earnings of $2.06 per share.
Revenue aligns with forecasts
Despite the earnings shortfall, Darden’s top‑line performance matched the consensus estimate, indicating that customer traffic and average check sizes remained stable during the quarter. The company’s ability to meet revenue expectations suggests that its core dining concepts continue to resonate with consumers.
Full‑year outlook remains steady
Looking ahead, Darden reaffirmed its guidance for the full fiscal year, forecasting earnings of $11.10 to $11.35 per share. Management indicated confidence that the business will sustain its momentum through the remainder of the year, even as it works to improve profitability.
The earnings release was generated by Automated Insights using data from Zacks Investment Research. Investors can access a detailed Zacks stock report on DRI at the provided link.
Original reporting: Alexandria, VA News – WTOP News — read the source article.
