US EditionTop Wall Street Forecasters Revamp Darden Restaurants Price Expectations Ahead Of Q3 Earnings - Darden Restaurants (NYSE:DRI)
- Darden Restaurants reported weaker-than-expected sales due to poor weather conditions affecting its Olive Garden and LongHorn Steakhouse locations, causing a sales slowdown.
- Darden's net income increased to $323.4 million this fiscal third quarter, with adjusted earnings per share at $2.80, slightly above expectations of $2.79.
- CEO Rick Cardenas noted that same-store sales were impacted by low temperatures and snowstorms but expressed optimism as delivery orders from Olive Garden increased.
- Analysts are maintaining positive ratings on Darden, with price targets raised by multiple firms, reflecting confidence in the company's performance despite recent challenges.
13 Articles
13 Articles
Olive Garden parent company shrugs off concerns of plummeting consumer confidence because restaurant goers continue 'to treat themselves and splurge'
Stock for Darden Restaurants, which owns Olive Garden and Longhorn’s Steakhouse, neared a 52-week high on Thursday. Investors were able to look past a lackluster quarter because the company said it wasn’t affected by declines in consumer confidence. How does a restaurant conglomerate that relies on customers’ discretionary income earn a minor stock rally during a period of declining consumer confidence? By showing Wall Street that while consume…
Olive Garden Parent Rallies Despite Mixed Quarter As Uber Deliveries Expand
Olive Garden parent Darden Restaurants matched profit views, but sales of $3.158 billion, up 6.2%, missed expectations for $3.214 billion. The post Olive Garden Parent Rallies Despite Mixed Quarter As Uber Deliveries Expand appeared first on Investor's Business Daily.
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