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Olive Garden

3 months ago

Darden Restaurants Reports Impressive Fiscal Q2 Earnings, Surpasses Analyst Expectations

Benzinga
Benzinga
Olive Garden owner Darden Restaurants reported earnings for its fiscal second quarter ending that beat analyst expectations. Revenue was $2.73 billion, up 9.7% year-over-year, driven by the addition of Ruth's Chris Steak House locations and same-store sales growth of 2.8%. Earnings per share were $1.84, beating estimates of $1.74. Darden completed its acquisition of Ruth's Hospitality Group in June and will not include Ruth's Chris Steak House same-store sales until it has owned it for 16 months. For fiscal year 2024, Darden raised its earnings per share guidance to a range of $8.75 to $8.90, up from $8.55 to $8.85 previously. It expects $11.5 billion in total sales.

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