Darden Restaurants, Inc. (NYSE:DRI) reported third-quarter results that met profit expectations but came in slightly below revenue forecasts, with shares edging up about 0.1% after the announcement. The restaurant operator posted adjusted earnings per share of $2.95 for the quarter ended February 22, matching the analyst consensus estimate. Revenue totaled $3.3 billion, missing the projected $3.33 billion, although it rose 5.9% compared with the same period last year. The increase was supported by a 4.2% rise in same-restaurant sales and the addition of 31 net new locations.
For fiscal 2026, the company provided earnings guidance of $10.57 to $10.67 per share. The midpoint of $10.62 is slightly above the analyst consensus of $10.57 and includes about $0.25 related to an extra 53rd week in the fiscal year.
LongHorn Steakhouse led the company’s brand performance, posting same-restaurant sales growth of 7.2%, while Olive Garden recorded a 3.2% increase. The Fine Dining segment reported a 2.1% gain, and the Other Business category grew 3.9%.
“We delivered a strong quarter,” said Rick Cardenas, President and CEO. “We continue to outperform the industry same-restaurant sales benchmark, and this quarter we widened that gap as Olive Garden, LongHorn Steakhouse, Yard House, and Cheddar’s Scratch Kitchen each significantly exceeded the benchmark.”
Darden also updated its outlook for the full fiscal year, forecasting total sales growth of roughly 9.5%, including about 2% attributable to the additional week. Same-restaurant sales are expected to grow approximately 4.5%, and the company plans to open around 70 new restaurants. Capital expenditures are projected to range between $750 million and $775 million.
The board declared a quarterly dividend of $1.50 per share, payable on May 1 to shareholders of record as of April 10.