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.
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