A sign hangs on the front of an Olive Garden restaurant on June 22, 2023 in Chicago, Illinois.
Scott Olsen | Getty Images
Darden Restaurants on Thursday reported mixed quarterly results as the Olive Garden owner’s same-store sales shrank for the first time since the pandemic.
Shares of the company fell more than 4% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:
- Earnings per share: $2.62 adjusted, meeting expectations
- Revenue: $2.97 billion vs. $3.03 billion expected
Darden reported fiscal third-quarter net income of $312.9 million, or $2.60 per share, up from $286.6 million, or $2.34 per share, a year earlier.
Excluding items, the restaurant company earned $2.62 per share.
Net sales rose 6.8% to $2.97 billion.
