Darden Restaurants (DRI) Stock News

Darden Restaurants CFO said increased beef imports from Mexico should help ease the company's rising input costs.

Profit dropped to $233.4M from $257.8M a year ago, though adjusted EPS of $2.05 matched estimates. Sales rose 5.1% to $3.2B. The company reaffirmed full-year guidance. Shares fell 1.2%.

Darden Restaurants reported first-quarter net income of $233.4 million. The company operates Olive Garden, LongHorn Steakhouse, and other casual dining chains. Investors will look for revenue, same-store sales, and full-year guidance in subsequent releases.

Darden Restaurants reported fiscal first-quarter same-restaurant sales at its LongHorn Steakhouse chain increased 6.2% year over year.

Darden Restaurants Olive Garden Same-Restaurant Sales Rise 1.1% in Fiscal Q1.

Darden Restaurants reported Q1 EPS of $2.05 from continuing operations and $2.04 GAAP. Adjusted EPS matched the continuing ops figure.

Darden Restaurants' customer visits rose 3.4% year-over-year during the latest quarter, outpacing the full-service dining industry which saw a 0.8% decline, according to Placer.ai data. Each Darden brand—Olive Garden, LongHorn Steakhouse, and Cheddar's Scratch Kitchen—posted gains every month from April to August, supported by different value propositions. Darden reports quarterly earnings Thursday before the open.