Darden Restaurants (DRI) shares advanced Thursday after it posted a betterꦰ-than-expected adjusted profit as it benefited from the acqui🐲sition of Ruth’s Chris Steak House.

The operator of Ruth’s Chris, Olive Garden, and other restaurants reported fiscal fourth-quarter fiscal 2024 adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.65, above the $2.61 consensus estimate of analysts compiled by Visible Alpha. Revenue rose 6.8% year-over-year to $2.96 billion, just short of forecasts.

Darden explained that the gains were driven by the addition of 80 Ruth’s Chris locations, and 37 other net new restaurants. Darden purchased Ruth’s Chris last year for about $715 million.

澳洲幸运5官方开奖结果体彩网:Same-store sales, which didn’t include Ruth’s Chris, were unchanged from the year before. They fell 1.5% at the firm’s 🌞biggest operation, Olive Garden, and were down 2.6% at its fine dining locations. Same-store sales increased 4.0% at LongHorn Steakhouse.

CEO Says Results Strong Despite 'Weakening Conditions'

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Rick Cardenas noted that the results were strong despite “weakening conditions that emerged in the back half of the year.” In March, Darden said third-quarter revenuꦡe declined and it lowered its full-year outlook, with Cardenas noting that the company faced “an operating environment that was tougher than we anticipated.”

Darden sees fiscal 2025 adjusted EPS of $9.40 to $9.60, with revenue of $11.8 billion to $11.9 billion. It predictsꦫ same-store sales growth of 1.0% to 2.0%.

Shares of Darden Restaurants rose 1.3% to $153.93 as of 10:48 a.m. ET Thursday. They are down 6% year-to-date.