Categories AlphaGraphs, Consumer, Earnings
DRI Earnings: Darden Restaurants reports higher Q3 sales and profit
Darden Restaurants, Inc. (NYSE: DRI), a leading fine dining restaurant chain, released financial results for the third quarter of 2024, reporting an increase in sales and adjusted profit. Earnings matched analysts’ estimates while the top line missed the view.
Net sales increased 6.8% year-over-year to $2.97 billion in the February quarter but fell short of expectations. Consolidated same-restaurant sales were down 1%.
Net income from continuing operations came in at $350.9 million or $2.60 per share in Q3, compared to $330.3 million or $2.34 per share last year. Adjusted EPS from continuing operations increased to $2.62 in Q3 from $2.34 in the prior-year quarter. The latest number is in line with consensus estimates.
“Looking ahead, our focus remains on controlling what we can control, leveraging and strengthening our competitive advantages, and executing our back-to-basics operating philosophy in order to effectively manage the business for the long-term,” said Darden’s CEO Rick Cardenas.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
After a positive year, what’s in the cards for Electronic Arts (EA) in FY25
Electronic Arts (NASDAQ: EA) ended fiscal 2024 on a mixed note, reporting lower revenues and improved bottom-line performance for the fourth quarter. The stock declined following the announcement as earnings
A look at how Disney’s (DIS) entertainment business performed in Q2 2024
Shares of the Walt Disney Company (NYSE: DIS) stayed green on Wednesday. The stock has gained 16% year-to-date. The company recorded revenue and earnings growth for the second quarter of
Uber Technologies reports wider loss for Q1 2024; revenue up 15%
Uber Technologies, Inc. (NYSE: UBER) on Wednesday reported a wider net loss for the first quarter of 2024. Revenues of the ride-sharing giant increased 15% during the three months. Net