Darden Restaurants Shares Fall 3% as Revenue Miss Offsets In-Line Earnings

Font: Financial Modeling Prep  • Mar 19, 2026

Darden Restaurants, Inc. (NYSE: DRI) reported third-quarter results that met earnings expectations but fell short on revenue, leading shares to decline more than 3% in premarket trading Thursday.

The restaurant operator posted adjusted earnings per share of $2.95 for the quarter ended February 22, in line with the analyst consensus. However, revenue of $3.3 billion missed the estimate of $3.33 billion, although it increased 5.9% from the same period last year.

Revenue growth was driven by a 4.2% increase in same-restaurant sales and contributions from 31 net new restaurant openings.

For fiscal 2026, Darden provided earnings guidance of $10.57 to $10.67 per share. The midpoint of $10.62 exceeded the analyst consensus estimate of $10.57 and included approximately $0.25 of incremental benefit from a 53rd week in the fiscal year.

Among its segments, LongHorn Steakhouse delivered the strongest performance with same-restaurant sales growth of 7.2%, followed by Olive Garden at 3.2%. Fine Dining posted growth of 2.1%, while the Other Business segment increased 3.9%.

The company updated its full-year outlook, projecting total sales growth of approximately 9.5%, including about 2% from the additional week. Same-restaurant sales are expected to grow approximately 4.5%, and Darden plans to open around 70 new restaurants. Capital expenditures are projected to range between $750 million and $775 million.