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Benzinga

Business

Nabaparna Bhattacharya

Olive Garden Parent's Stock Tanks After Quarterly Miss Even As Outlook Remains Strong

Olive Garden Darden Darden Restaurants DRI

Buffalo,,Ny,,Usa,-,May,23,,2022:,An,Olive,Garden

Darden Restaurants, Inc. (NYSE:DRI) shares tumbled nearly 10% Thursday after the Olive Garden parent posted weaker-than-expected quarterly earnings and revenue, overshadowing double-digit sales growth fueled by acquisitions and steady same-restaurant gains.

The company reported first-quarter adjusted earnings per share of $1.97, missing the analyst consensus estimate of $2.00.

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