Darden Restaurants: Fiscal 1Q Earnings Snapshot
ORLANDO, Fla. (AP) _ Darden Restaurants Inc. (DRI) on Thursday reported fiscal first-quarter net income of $170.6 million.
On a per-share basis, the Orlando, Florida-based company said it had profit of $1.37. Earnings, adjusted to account for discontinued operations, were $1.38 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.
The owner of Olive Garden and other chain restaurants posted revenue of $2.13 billion in the period, falling short of Street forecasts. Eleven analysts surveyed by Zacks expected $2.14 billion.
Darden Restaurants expects full-year earnings to be $6.30 to $6.45 per share.
Darden Restaurants shares have increased 27% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%.