Olive Garden owner’s shares jump as earnings top estimates and outlook is raised

Darden Restaurants, whose brands include Olive Garden, reported mixed quarterly results on Tuesday, but raised its forecast for fiscal 2019, sending premarket share prices up nearly 5 percent.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: 92 cents vs. 91 cents expected
  • Revenue: $1.97 billion vs. $1.98 billion expected

Darden also said same-store sales grew 2.1 percent, beating analysts’ estimates of 2 percent. Strong sales at Olive Garden and Capital Grille restaurants that have been open at least a year boosted those numbers. Darden’s upscale steakhouse chain reported the highest same-store sales growth of 3.7 percent, beating even Olive Garden……………………CLICK HERE