Darden Restaurants Inc., father or mother firm of manufacturers together with Olive Garden, LongHorn Steakhouse and Yard House, posted better-than-expected fiscal first-quarter earnings on Thursday, boosted by the addition of 77 eating places from Ruth’s Chris Steak House, which it acquired in June.
The firm
DRI,
had internet earnings of $194.5 million, or $1.60 a share, for the quarter to Aug. 27, up from $193.0 million, or $1.56 a share, within the year-earlier interval. Adjusted per-share earnings got here to $1.78, forward of the $1.74 FactSet consensus.
Sales rose to $2.731 billion from $2.446 billion, and had been additionally forward of the $2.709 billion FactSet consensus.
Blended same-restaurant gross sales rose 5% to high the FactSet consensus for an increase of three.8%.
The firm backed its full-year steering for fiscal 2024 and stated it nonetheless expects adjusted EPS of $8.55 to $8.85.
The inventory was down 1% premarket however has gained 8% within the yr thus far, whereas the S&P 500
SPX
has gained 15.7%.
Source web site: www.marketwatch.com
