Darden Restaurants is a leading chain of full-service dining establishments that operates several well-known restaurant brands across the United States and Canada
The company owns and manages a diverse portfolio of restaurant concepts, including fine dining and casual dining options, which cater to a wide range of culinary preferences and dining experiences. Through its commitment to quality food, exceptional service, and a welcoming atmosphere, Darden aims to create memorable dining experiences for its guests while continually evolving to meet changing consumer tastes and trends in the food industry.
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Shares of restaurant company Darden (NYSEDRI)
jumped 14.7% in the morning session after the company reported strong third-quarter results, which exceeded analysts' same-store sales expectations, leading to a revenue beat while EPS was roughly in line. The company recorded growth across its four largest brands–Olive Garden, LongHorn Steakhouse, Yard House, and Cheddar's Scratch Kitchen, demonstrating that the solid result was broad-based. Its full-year revenue guidance also came in slightly higher than Wall Street's estimates. Overall, this quarter had some key positives.
Restaurant company Darden (NYSEDRI) reported Q4 CY2024 results beating Wall Street’s revenue expectations, with sales up 6% year on year to $2.89 billion. The company’s full-year revenue guidance of $12.1 billion at the midpoint came in 1.2% above analysts’ estimates. Its non-GAAP profit of $2.03 per share was in line with analysts’ consensus estimates.
The day after a volatile Federal Reserve meeting, Wall Street grappled with the stark reality of Fed Chair Jerome Powell‘s cautious tone on cutting interest rates in 2024.
