The Olive Garden Italian Restaurant sign displays the company logo and is located in Spokane Valley, Washington and is owned by Florida-based Darden Restaurants.
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Darden Restaurant Quarterly results reported Thursday were mixed, with Olive Garden’s same-store sales falling for the second straight quarter.
The company’s shares rose more than 1% in premarket trading.
The company’s report compared with Wall Street expectations, according to a survey of analysts by London Stock Exchange Group (LSEG):
- Earnings per share: Adjusted $2.65, $2.61 expected
- Revenue: $2.96 billion, $2.97 billion expected
Darden reported fiscal fourth-quarter net income of $308.1 million, or $2.57 per share, down from $315.1 million, or $2.58 per share, in the same period last year.
Excluding costs and other items related to the Ruth’s Chris acquisition, the company earned $2.65 per share.
Net sales rose 6.8% to $2.96 billion, driven by the acquisition of Ruth’s Chris Steak House and 37 other net new stores.
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