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Darden reports in-line second quarter earnings, reaffirms 2017 outlook

An Olive Garden restaurant in New York.
Adam Jeffery | CNBC
An Olive Garden restaurant in New York.

Darden Restaurants on Tuesday posted earnings that were in line with analyst expectations.

Shares prices were up slightly in premarket trading.

The company reported fiscal second quarter earnings of 64 cents per share on revenues of $1.643 billion. Analysts had expected EPS of 64 cents on revenues of $1.648 billion, according to Thomson Reuters.

"We had another strong quarter with same-restaurant sales growth significantly outperforming the casual dining industry benchmarks, especially at Olive Garden," CEO Gene Lee said in a statement. "We remain laser-focused on our operating philosophy rooted in food, service and atmosphere, and creating memorable experiences for our guests."

The company saw same-store sales rise 1.7 percent across the board during the quarter, with Olive Garden, Eddie V's and Bahama Breeze up 2.6 percent or more.


Darden's Seasons 52 chains struggled during the quarter, with same-store sales falling 0.3 percent during the fiscal second quarter.

The company reaffirmed its same-store sales outlook of 1 percent to 2 percent in 2017. It also said it expects diluted net earnings per share to range from $3.87 to $3.97.