Darden Restaurants, Inc. (NYSE: DRI) on Thursday reported financial results for the fourth quarter of 2022. The restaurant chain also provided guidance for the full fiscal year.
Net income decreased to $281.7 million or $2.24 per share in the most recent quarter from $368.5 million or $2.78 per share a year earlier but came in above analysts’ forecast.
The bottom line benefitted from a 14% increase in net sales to $2.60 billion as all the fourth operating segments registered strong growth.
“As we begin our new fiscal year, our focus remains on driving profitable sales, investing in the guest experience, and simplifying operations. Darden’s strategy, and our strong balance sheet, position us well regardless of the operating environment,” said Gene Lee, chief executive officer of Darden.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Salesforce stock hit by weak guidance, co-CEO’s exit. What next?
For technology stocks, 2022 has been a challenging year, with companies losing significant market value amid prolonged stock selloff. In that respect, Salesforce, Inc. (NYSE: CRM) is among the worst-affected
Macy’s (M): Here’s a look at the retailer’s expectations for the near term
Shares of Macy’s Inc. (NYSE: M) were down on Thursday. The stock has gained 36% over the past three months and 18% over the past one month. The company’s sales
KR Earnings: Kroger Q3 sales, profit increase and top expectations
Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to
