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Darden Restaurants: Fiscal 4Q Earnings Snapshot

June 21, 2018

ORLANDO, Fla. (AP) — Darden Restaurants Inc. (DRI) on Thursday reported fiscal fourth-quarter profit of $174.5 million.

On a per-share basis, the Orlando, Florida-based company said it had profit of $1.39.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.

The owner of Olive Garden and other chain restaurants posted revenue of $2.13 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $2.12 billion.

For the year, the company reported profit of $596 million, or $4.73 per share. Revenue was reported as $8.08 billion.

Darden Restaurants expects full-year earnings to be $5.40 to $5.56 per share.

Darden Restaurants shares have declined almost 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 3.5 percent.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DRI at https://www.zacks.com/ap/DRI

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