These Analysts Boost Their Forecasts On Darden Restaurants Following Better-Than-Expected Q4 Results

Darden Restaurants Inc. (NYSE:DRI) reported better-than-expected fourth-quarter financial results on Friday.

The company reported fourth-quarter adjusted earnings per share of $2.98, beating the analyst consensus estimate of $2.97. Quarterly sales of $3.27 billion outpaced the analyst consensus estimate of $3.26 billion.

Darden reported a consolidated same-restaurant sales increase of 4.6%, with Olive Garden and LongHorn Steakhouse rising 6.9% and 6.7%, respectively. Fine Dining saw a decline of 3.3%, while Other Business grew by 1.2%.

“We had a strong quarter with same-restaurant sales and earnings growth that exceeded our expectations,” said Darden President & CEO Rick Cardenas. “Our adherence to our winning strategy, anchored in our four competitive advantages and being brilliant with the basics, led to a successful year. Our strategy remains the right one for the company, and we will continue to execute ...