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Investing.com -- Darden Restaurants, Inc. reported third-quarter fiscal 2025 results that fell short of analyst expectations, sending shares down 1.1% in early trading.
The restaurant operator posted adjusted earnings per share of $2.80, missing the consensus estimate of $2.81. Revenue for the quarter came in at $3.2 billion, slightly below the $3.22 billion analysts had projected.
Total (EPA:TTEF) sales increased 6.2% YoY, driven by a 0.7% rise in same-restaurant sales and the acquisition of 103 Chuy’s restaurants. Olive Garden, Darden (NYSE:DRI)’s largest brand, saw same-restaurant sales grow 0.6%, while LongHorn Steakhouse led with 2.6% growth.
"We had a solid quarter, and I am proud of how our teams managed their business and controlled what they could control," said Darden President & CEO Rick Cardenas.
The company updated its full-year fiscal 2025 outlook, now expecting adjusted earnings per share between $9.45 and $9.52, compared to the analyst consensus of $9.48. Darden projects total sales of approximately $12.1 billion for the year.
During the quarter, Darden repurchased $53 million worth of its common stock and declared a quarterly cash dividend of $1.40 per share.
Despite the earnings miss, Darden highlighted strong performance during key periods, with several brands setting sales records during the holidays and Valentine’s Day.