Darden Restaurants earnings beat estimates but Olive Garden growth weakens

Darden Restaurants on Thursday reported mixed quarterly results as same-store sales growth at the company’s fine-dining restaurants and Olive Garden fell short of expectations.

Shares of the company slid more than 1% in premarket trading.

Here’s what the company reported for its fiscal fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

• Earningsper share: $3.66 adjusted vs. $3.63 expected
• Revenue: $3.72 billion vs. $3.73 billion expected

Darden reported net income of $404.9 million, or $3.51 per share, up from $303.8 million, or $2.58 per share, a year earlier.

Excluding costs of restaurant closures and other items, the company earned $3.66 per share.

Net salesclimbed 13.7% to $3.72 billion, boosted by the inclusion of an extra week during the fiscal year.