Darden Restaurants: Fiscal Q4 Earnings Snapshot

Audio By Carbonatix

ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Darden Restaurants Inc. (DRI) on Thursday reported fiscal fourth-quarter net income of $308.1 million.

On a per-share basis, the Orlando, Florida-based company said it had profit of $2.57. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $2.65 per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.62 per share.

The owner of Olive Garden and other chain restaurants posted revenue of $2.96 billion in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $2.98 billion.

For the year, the company reported profit of $1.03 billion, or $8.51 per share. Revenue was reported as $11.39 billion.

Darden Restaurants expects full-year earnings to be $9.40 to $9.60 per share, with revenue in the range of $11.8 billion to $11.9 billion.

_____

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