Darden Restaurants reported mixed fourth-quarter results, with Olive Garden same-store sales growth of 2.4% missing the 3.2% analyst estimate, while LongHorn Steakhouse surged 9.5% above the 7.1% forecast. Blended same-store sales across all brands rose 4.6%, and adjusted earnings per share reached $3.66, slightly above the $3.63 consensus. Total net sales climbed 13.7% to $3.72 billion, aided by an extra week, and net income grew to $404.9 million from $303.8 million a year earlier. For fiscal 2027, Darden projected revenue of $13.60 billion to $13.75 billion and earnings per share of $11.10 to $11.35, both below analyst expectations of $13.72 billion and $11.40, respectively, while also forecasting same-store sales growth of 2.5% to 3.5% and 75 to 80 new restaurant openings. The board declared a quarterly dividend of $1.62 per share, an 8% increase, and authorized a new $1.5 billion share repurchase program. Darden stock fell more than 3% in premarket trading.
Darden Restaurants IncFiscal 2027 revenue and EPS guidance below analyst expectations, despite Q4 beat.