Darden Restaurants: Fiscal Q1 Earnings Snapshot
By AP News
Published - Sep 19, 2024, 07:09 AM ET
Last Updated - Dec 16, 2024, 07:06 PM EST
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.