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Investing.com — Darden (NYSE:DRI) blew expectations out of the water with its most recent results — even amid lockdowns and shuttered restaurants.
Fiscal third quarter revenue of $1.73 billion beat the estimated $1.61 billion, with profit of 98 cents besting the expected 68 cents. The company’s fourth quarter guidance also beat analyst forecasts, with estimated sales of $2.1 billion versus $1.94 billion and net income of up to $1.70 versus $1.20, according to data compiled by Investing.com.
Shares of the Olive Garden owner are up 4.2%. The stock hit a record last week, even as sales and profit have yet to return to pre-pandemic levels. Darden has 13 buy ratings, three holds and no sells.
Earlier this week, firms from Morgan Stanley (NYSE:MS) to Raymond James increased their price targets on the company.
