ORLANDO, Fla. — Darden Restaurants Inc. today reported fiscal first-quarter net income of $36.1 million.
The company said it had profit of 28 cents per share. Earnings, adjusted for restructuring costs and to account for discontinued operations, came to 56 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The owner of Olive Garden and other chain restaurants posted revenue of $1.53 billion in the period, which met Street forecasts.
Darden Restaurants shares have dropped 17% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat.