Darden Dips Despite Earnings Beat
Olive Garden parent Darden Restaurants had a rough July-October after weakness in its flagship brand led to a sales miss and disappointing 2024 guidance. However, today’s second-quarter results gave investors renewed hope that it’s getting back on track. 🤔
The company’s adjusted earnings per share of $1.84 topped the expected $1.74. Revenues were shy of expectations, coming in at $2.73 vs. $2.74 billion. Sales jumped 9.7% YoY, boosted by including Ruth’s Chris Steak House locations following its acquisition. 📈