Olive Garden parent raises revenue outlook as same-store sales jump

Darden Restaurants connected Thursday raised its gross outlook for fiscal 2023 for the 2nd consecutive 4th aft reporting quarterly earnings and gross that showed maturation crossed the board.

For fiscal 2023, Darden present expects income of $10.45 cardinal to $10.5 billion, up from its anterior scope of $10.3 cardinal to $10.45 billion.

Here's what the institution reported for its most caller quarter:

• Earnings per share: $2.34
• Revenue: $2.79 billion

Analysts surveyed by Refinitiv had expected EPS of $2.25 and gross of $2.73 billion. It was not instantly wide whether Darden's reported results were comparable to statement estimates.

The edifice institution reported fiscal third-quarter nett income of $286.6 million, oregon $2.34 per share, up from $247 million, oregon $1.93 cents per share, a twelvemonth earlier.

Net sales rose 13.8% to $2.79 billion, fueled by same-store income maturation of 11.7% crossed each of its brands. Darden owns Olive Garden and Longhorn Steakhouse restaurants, among others.

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