Thursday’s fourth-quarter report from Darden Restaurants showed a split performance, with Olive Garden missing same-store sales targets, LongHorn Steakhouse outpacing the field, and a fiscal 2027 forecast that disappointed investors expecting more.
Olive Garden posted same-store sales growth of 2.4% for the quarter ended May 31
Analysts had projected 3.2% growth. LongHorn Steakhouse, by contrast, reported same-store sales growth of 9.5%, beating analyst estimates of 7.1%, according to CNBC. Across all of Darden’s brands, blended same-store sales rose 4.6%.
Adjusted earnings per share came in at $3.66, above the $3.63 analysts expected. The addition of an extra week in the fiscal calendar helped push total net sales up 13.7%, to $3.72 billion. Net income reached $404.9 million for the quarter, up from $303.8 million a year earlier, the company said.