Customers enter an Olive Garden restaurant in Pittsburg, California, US, on Friday, Dec. 9, 2022.
David Paul Morris | Bloomberg | Getty Images
Darden Restaurants on Thursday reported quarterly earnings that topped Wall Street’s expectations.
The company also announced that former CEO Gene Lee plans to step down as chair of the board. Lee retired a little over a year ago.
Shares of the company fell more than 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $2.58 vs. $2.54 expected
- Revenue: $2.77 billion, meeting expectations
Darden reported fiscal fourth-quarter net income of $315.1 million, or $2.58 per share, up from $281.7 million, or $2.24 per share, a year earlier.
Net sales rose 6.4% to $2.77 billion.
