Olive Garden parent Darden Restaurants stock falls after omicron drives earnings miss

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Olive Garden parent Darden Restaurants misses earnings expectations

Darden Restaurants Inc. DRI, -0.80% shares fell 1.7% in Thursday premarket trading after it reported fiscal third-quarter profit and sales that missed expectations. The Olive Garden parent posted net income of $247.0 million, or $1.93 per share, up from $128.7 million, or 98 cents per share. Sales totaled $2.449 billion, up from $1.733 billion last year. The FactSet consensus was for EPS of $2.10 and sales of $2.513 billion. Same-restaurant sales rose 38.1%, below the FactSet consensus for 43.

6% and the fine dining segment, which includes The Capital Grille and Eddie V's soared 85.8%. Darden had record sales in December, but omicron"significantly impacted" demand and operations in January, said Chief Executive Gene Lee in a statement. February bounced back with"strong sales," he said. For fiscal 2022, Darden is guiding for sales of $9.55 billion to $9.62 billion, same-restaurant sales growth of 29% to 30% and EPS of $7.30 to $7.45.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 3. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

5 Things to Know Before the Stock Market Opens WednesdayU.S. stock futures dropped Wednesday, one day after Wall Street rebounded from Monday’s Fed-driven decline.
La source: NBCDFW - 🏆 288. / 63 Lire la suite »