Categories AlphaGraphs, Consumer, Earnings
Earnings: Darden Restaurants (DRI) Q3 profit rises on higher revenues
Darden Restaurants, Inc. (NYSE: DRI) announced financial results for the third quarter of 2023, reporting higher earnings and sales. The restaurant chain also provided guidance for the full fiscal year.
Net income increased to $286.6 million in the most recent quarter from $247 million a year earlier. On a per-share basis, February-quarter earnings moved up to $2.34 per share from $1.93 per share in the comparable period of 2022.
At $2.79 billion, net sales were up 14% year-over-year in the third quarter. Same restaurant sales at Olive Garden and LongHorn Steakhouse increased by 12.3% and 10.8% respectively.
“Our ability to invest in pricing below inflation over time provides strong value to our guests and reinforces the power of our strategy and our restaurant teams’ commitment to being brilliant with the basics,” said Rick Cardenas, chief executive officer of Darden.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%