Why Darden Restaurants Stock Dropped Today
Shares of Darden Restaurants (NYSE: DRI) were down 3.9% as of 1:00 p.m. EDT Thursday after the parent company of chains including Olive Garden and Longhorn Steakhouse served up mixed quarterly results and underwhelming full-year guidance.
For Darden's first quarter of fiscal 2020 (ended Aug. 25, 2019), sales climbed 3.5% year over year to $2.13 billion, translating to net earnings from continuing operations of $171.8 million, or $1.38 per share. Analysts, on average, were modeling lower earnings of $1.36 per share on slightly higher revenue of $2.14 billion.
IMAGE SOURCE: DARDEN RESTAURANTS.
Source Fool.com
