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Olive Garden parent earnings beat estimates, fueled by strong LongHorn Steakhouse sales - CtrlF.XYZ

Olive Garden parent earnings beat estimates, fueled by strong LongHorn Steakhouse sales

1 year ago 137

Customers participate an Olive Garden edifice successful Pittsburg, California, US, connected Friday, Dec. 9, 2022.

David Paul Morris | Bloomberg | Getty Images

Darden Restaurants connected Thursday reported quarterly earnings that topped Wall Street's expectations.

The institution besides announced that erstwhile CEO Gene Lee plans to measurement down arsenic seat of the board. Lee retired a small implicit a twelvemonth ago.

Shares of the institution fell much than 1% successful premarket trading.

Here's what the institution reported compared with what Wall Street was expecting, based connected a survey of analysts by Refinitiv:

Earnings per share: $2.58 vs. $2.54 expectedRevenue: $2.77 billion, gathering expectations

Darden reported fiscal fourth-quarter nett income of $315.1 million, oregon $2.58 per share, up from $281.7 million, oregon $2.24 per share, a twelvemonth earlier.

Net sales rose 6.4% to $2.77 billion.

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