Darden Restaurants Inc. (DRI) - Get Report , owner of the Olive Garden and LongHorn Steakhouse chains, reported fiscal second-quarter profit and same-store sales that surpassed analysts' expectations.
The Orlando-based company reported net income for the quarter ended Nov. 25 of $115.6 million, or 92 cents a share, up from $84.7 million, or 67 cents, in the same period a year earlier. Analysts surveyed by FactSet had anticipated earnings per share of 91 cents.
Sales grew 4.9% to $1.97 billion, just below the FactSet consensus of $1.98 billion. Same-store sales increased 2.1%, beating the FactSet consensus of 2%.
For fiscal 2019, the company now expects per-share earnings from continuing operations of $5.60-$5.70, above its previous guidance of $5.52-$5.65.
Darden rose 4.2% on Tuesday to $103.