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Darden Restaurants Misses Revenue, Shares Dip
24 Sep
Summary
- First-quarter revenue fell short of analyst expectations.
- LongHorn Steakhouse sales grew significantly, outpacing Olive Garden.
- Company reaffirms full-year earnings outlook with a slight miss.
Darden Restaurants Inc. announced its first-quarter financial results for the period ending August 30, 2026. The company met earnings per share expectations but fell short on revenue, with $3.2 billion reported against an expected $3.21 billion.
Despite the revenue miss, overall revenue saw a 5.1% increase compared to the previous year. LongHorn Steakhouse led segment performance with a 6.2% increase in same-restaurant sales, while Olive Garden posted a 1.1% growth. Darden reaffirmed its fiscal year 2027 earnings per share projection of $11.10 to $11.35.
During the quarter, Darden operated 2,218 restaurants and repurchased $222.3 million in common stock. The company also declared a quarterly dividend of $1.62 per share. Segment-specific sales figures showed Olive Garden generating $1.33 billion and LongHorn Steakhouse posting $860.9 million.
