Darden Restaurants Shines in Q2 with Earnings Surpassing Expectations 🍽️

Olive Garden owner Darden Restaurants reported earnings for its fiscal second quarter ending that beat analyst expectations. Revenue was $2.73 billion, up 9.7% year-over-year, driven by the addition of Ruth's Chris Steak House locations and same-store sales growth of 2.8%. Earnings per share were $1.84, beating estimates of $1.74. Darden completed its acquisition of Ruth's Hospitality Group in June and will not include Ruth's Chris Steak House same-store sales until it has owned it for 16 months. For fiscal year 2024, Darden raised its earnings per share guidance to a range of $8.75 to $8.90, up from $8.55 to $8.85 previously. It expects $11.5 billion in total sales.