The most recent Darden Restaurants earnings report gave DRI stock a boost on Tuesday.
Darden Restaurants (NYSE:DRI) reported earnings per share of 92 cents for its fiscal second quarter of 2019. This is an increase over the company’s earnings per share of 73 cents reported in the same period of the year prior. It was also good news for DRI stock by beating out Wall Street’s earnings per share estimate of 91 cents for the quarter.
Net income reported in the Darden Restaurants earnings report for its fiscal second quarter of 2019 was $115.60 million. The company’s net income from its fiscal second quarter of 2018 was $84.70 million.
The Darden Restaurants earnings report for its fiscal second quarter of the year also includes operating income of $148.10 million. This is better than the company’s operating income of $128.90 million reported during the same time last year.
During the Darden Restaurants earnings report for its fiscal second quarter of 2019, the company reported revenue of $1.97 billion. This is up from the company’s revenue of $1.88 billion reported in its fiscal second quarter of the previous year. However, it does miss analysts’ revenue estimate of $1.98 billion for the period, but that was unable to keep DRI stock down today.
Darden Restaurants also took time during its earnings report to update its outlook for fiscal 2019. DRI is now expecting earnings per share for the fiscal year to range from $5.60 to $5.70. Wall Street is looking for earnings per share of $5.65 for fiscal 2019.
DRI stock was up 5% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.