Quantcast

Darden Restaurants, Inc. Shares Fly on Boffo Earnings Beat


Shutterstock photo

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Darden Restaurants (NYSE: DRI ) stock was on the rise Thursday following the release of its earnings report for its fiscal fourth quarter of 2018.

Darden Restaurants, Inc. Shares Fly on Boffo Earnings Beat Source: Mike Mozart via Flickr (Modified)

Darden Restaurants's earnings report for its fiscal fourth quarter of the year includes earnings per share of $1.41. This is up from its earnings per share of $1.18 reported in the same time last year. It was also good news for DRI stock by coming in above Wall Street's earnings per share estimate of $1.35 for the period.

During its fiscal fourth quarter of 2018, Darden Restaurants reported net income of $174.50 million. The restaurant company's net income from its fiscal fourth quarter of the previous year was $123.80 million.

Darden Restaurants also reported operating income of $230.00 million for its fiscal fourth quarter of the year. Operating income reported in the same period of the year prior came in at $170.20 million.

Revenue reported by Darden Restaurants in its fiscal fourth quarter of 2018 was $2.13 billion . This is better than the company's revenue of $1.93 billion that was reported in its fiscal fourth quarter of 2017. It was also a match for analysts' revenue estimate of $2.13 billion for the quarter.

Darden Restaurants took time in its recent earnings report to provide its outlook for the fiscal full year of 2019. The company says that it is expecting earnings per share for the year to range from $5.40 to $5.56. Wall Street is looking for earnings per share of $5.41 for fiscal 2019.

Darden Restaurants also says that it is expecting total sales growth for fiscal 2019 to come in between 4% and 5%. Sales from fiscal 2018 were $8.08 billion. Analysts are estimating sales of $8.44 billion for the period.

DRI stock was up 11% as of Thursday morning.

More From InvestorPlace

As of this writing, William White did not hold a position in any of the aforementioned securities.

Compare Brokers

The post Darden Restaurants, Inc. Shares Fly on Boffo Earnings Beat appeared first on InvestorPlace .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Stocks
Referenced Symbols: DRI



More from InvestorPlace Media

Subscribe






InvestorPlace Media
Contributor:

InvestorPlace Media

Investing, Financial News










Research Brokers before you trade

Want to trade FX?