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Customers enter an Olive Garden restaurant in Pittsburg, California, US, on Friday, Dec. 9, 2022.
David Paul Morris | Bloomberg | Getty Images
Darden Restaurants on Thursday raised its revenue outlook for fiscal 2023 for the second consecutive quarter after reporting quarterly earnings and revenue that showed growth across the board.
For fiscal 2023, Darden now expects sales of $10.45 billion to $10.5 billion, up from its prior range of $10.3 billion to $10.45 billion.
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Here’s what the company reported for its most recent quarter:
- Earnings per share: $2.34
- Revenue: $2.79 billion
Analysts surveyed by Refinitiv had expected EPS of $2.25 and revenue of $2.73 billion. It was not immediately clear whether Darden’s reported results were comparable to consensus estimates.
The restaurant company reported fiscal third-quarter net income of $286.6 million, or $2.34 per share, up from $247 million, or $1.93 cents per share, a year earlier.
Net sales rose 13.8% to $2.79 billion, fueled by same-store sales growth of 11.7% across all of its brands. Darden owns Olive Garden and Longhorn Steakhouse restaurants, among others.
This story is developing. Please check back for updates.
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