Darden Restaurants Exceeds Profit Expectations, Faces Revenue Shortfall

Boost from Ruth's Chris acquisition drives earnings, but Olive Garden and fine dining segments struggle.

Darden reported adjusted earnings per share of $2.65, surpassing the expected $2.61.
Revenue rose 6.8% to $2.96 billion, slightly below the forecasted $2.97 billion.
Olive Garden's same-store sales fell 1.5%, while LongHorn Steakhouse saw a 4% increase.
The acquisition of Ruth's Chris Steak House added 80 locations, contributing to overall growth.
Darden forecasts modest same-store sales growth of 1% to 2% for fiscal 2025.