Darden Restaurants (DRI) Q4 2022 earnings
An Olive Garden restaurant in Silverdale. Darden Restaurants, Inc. which owns Olive Garden and other restaurant chains is scheduled to report its fourth-quarter 2022 earnings on June 23.
Toby Scott | Lightrocket | Getty Images
Darden Restaurants on Thursday reported quarterly earnings and revenue that beat analysts’ expectations, despite experiencing high inflation that weighed on its profits.
Shares of the company were flat in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $2.24 vs. $2.21 expected
- Revenue: $2.6 billion vs. $2.54 billion expected
Darden reported fiscal fourth-quarter 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 surveyed by Refinitiv were expecting earnings per share of $2.21.
Net sales rose 14.2% to $2.6 billion, topping expectations of $2.54 billion.