An Olive Garden restaurant in Silverdale. Darden Restaurants, Inc. which owns Olive Garden and other restaurant chains is scheduled to report its revenue for the fourth quarter of 2022 on June 23rd.
Toby Scott | Lightrocket | Getty Images
Darden Restaurants on Thursday reported quarterly earnings and earnings that beat analysts’ expectations, despite experiencing high inflation weighing on their profits.
Shares of the company were flat in premarket trading.
Here’s what the company reports compared to what Wall Street expected, based on a survey by analysts by Refinitiv:
- Earnings per share: $ 2.24 vs. $ 2.21 expected
- Revenue: $ 2.6 billion vs. $ 2.54 billion expected
Darden reported fourth-quarter fiscal net income of $ 281.7 million, or $ 2.24 per share, down from $ 368.5 million, or $ 2.78 per share, a year earlier. Analysts researched by Refinitiv expect a earnings per share of $ 2.21.
net sales rose 14.2% to $ 2.6 billion, topping expectations of $ 2.54 billion.