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Darden Restaurants: Fiscal Q1 Earnings Snapshot

By AP News - Sep 19, 2024, 07:09 AM EDTLast Updated - Sep 19, 2024, 07:09 AM EDT

ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Darden Restaurants Inc. (DRI) on Thursday reported fiscal first-quarter profit of $207.2 million.

The Orlando, Florida-based company said it had net income of $1.74 per share. Earnings, adjusted for costs related to mergers and acquisitions and to account for discontinued operations, were $1.75 per share.

The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.

The owner of Olive Garden and other chain restaurants posted revenue of $2.76 billion in the period, which also missed Street forecasts. Eleven analysts surveyed by Zacks expected $2.8 billion.

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