Darden Restaurants earnings for the company’s fiscal third quarter of 2019 have DRI stock getting a boost on Thursday.
Darden Restaurants (NYSE:DRI) starts off the earnings report for its fiscal third quarter of 2019 with earnings per share of $1.80. This is an increase over the company’s earnings per share of $1.71 from the same time last year. It was also a boon to DRI stock by beating out Wall Street’s earnings per share estimate of $1.75 for the quarter.
The Darden Restaurants earnings report for its fiscal third quarter of the year also includes net income of $223.60 million. This is better than the company’s net income of $217.80 million reported in its fiscal third quarter of 2018.
Operating income reported in the Darden Restaurants earnings release for its fiscal third quarter of 2019 comes in at $265.50 million. The restaurant company reported operating income of $233.40 million in the same period of the year prior.
Darden Restaurants earnings for its fiscal third quarter of the year also have revenue coming in at $2.25 billion. This is up from the company’s revenue of $2.13 billion reported in its fiscal third quarter of the previous year. It was also a blessing to DRI stock by coming in above analysts’ revenue estimate of $2.24 billion for the period.
The most recent Darden Restaurants earnings report also includes a 2019 outlook update. The company is now expecting earnings per share to range from $5.76 to $5.80 in 2019. It was previously expecting earnings per share for the year to come in between $5.60 and $5.70. This is good news for DRI stock with Wall Street looking for earnings per share of $5.70 in 2019.
DRI stock was up 6% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.