Olive Garden parent company Darden rises on cheery earnings report

Darden Restaurants, the parent company of Olive Garden and LongHorn Steakhouse, rose 5% in premarket trading after it reported sales and profit that beat Wall Street estimates.

The company reported adjusted earnings per share of $2.98, topping the $2.95 analysts polled by FactSet expected. It also reported sales of $3.27 billion, compared to the $3.26 billion analysts were penciling in.

Darden has been able to grow its sales even amid fears of consumer pullback. It also revamped its portfolio in recent years, selling Red Lobster and acquiring Chuy’s Tex Mex restaurants.

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