DRI - Why LongHorn Steakhouse Owner Darden Restaurants Shares Taking A Hit Today | Benzinga

Darden Restaurants Inc (NYSE:DRI) shares are dropping after the company reported third-quarter FY24 sales growth of 6.8% year-on-year to $2.975 billion, missing the analyst consensus estimate of $3.025 billion.

The sales growth was driven by sales from the addition of 79 company-owned Ruth’s Chris Steak House (Ruth’s Chris) restaurants and 53 other net new restaurants. Consolidated same-restaurant sales for the quarter declined 1%.

Darden clocked an operating margin of 13%, and the operating income rose 10.7% Y/Y to $387.4 million. Adjusted EPS of $2.62 was Full story available on Benzinga.com