Darden Restaurants, Inc. (NYSE:DRI) posts 2Q19 numbers; Tops Estimate

Darden Restaurants, Inc. (NYSE:DRI) announced net income for the second quarter of $ 115.90 million or $ 0.92 per share. The company generated sales of $ 1.97 billion for the same period. While earnings per share grew 26 percent from the year-ago quarter, revenue advanced 5 percent.

On an adjusted basis, Darden Restaurants revealed adjusted income from continuing operation of 92 cents a share for the second quarter. This topped analysts estimate by $ 0.01 a share while sales fell shy of street analysts expectation by $ 7 million.

Street analysts are looking for income of $ 0.91 per share on sales of $ 1.98 billion for the second quarter. Analysts estimates are from Thomson Reuters, excludes one time gain or loss.

CEO Gene Lee, said, We had another quarter of strong and steady performance by continuing to focus on being brilliant with the basics in our restaurants. We continued to grow market share profitably by strengthening and leveraging our competitive advantages, and our brands are making the appropriate investments while managing costs effectively.

Looking ahead, Darden Restaurants anticipates full year 2019 diluted earnings of $5.60 to $5.70 per share.