Olive Garden owner Darden Q1 sales edge below estimates
DRI•Darden’s fiscal first-quarter sales rose 5.1% year over year to $3.20 billion, slightly below estimates, while adjusted EPS of $2.05 also missed expectations. The company reaffirmed fiscal 2027 diluted EPS guidance of $11.10 to $11.35.
1. Quarterly results
Darden reported fiscal first-quarter sales of $3.20 billion, compared with the $3.21 billion analyst estimate, and adjusted EPS from continuing operations of $2.05, versus an estimate of $2.06. Same-restaurant sales grew 3.1%, and net income was $233.4 million.
2. Outlook and repurchases
Darden reaffirmed fiscal 2027 diluted net EPS guidance of $11.10 to $11.35. It repurchased $222.3 million of its common stock during the quarter. The company said every segment posted positive same-restaurant sales, led by LongHorn Steakhouse.
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