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Darden Restaurants profit misses consensus by 21.8% in fiscal Q2

Darden Restaurants Inc. said its normalized net income for the fiscal second quarter ended Nov. 29, 2015, was 33 cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS rose 194.9% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $42.4 million, a gain of 200.0% from $14.1 million in the year-earlier period.

The normalized profit margin climbed to 2.6% from 0.9% in the year-earlier period.

Total revenue increased on an annual basis to $1.61 billion from $1.56 billion, and total operating expenses totaled $1.52 billion, compared with $1.51 billion in the year-earlier period.

Reported net income totaled $29.9 million, or 23 cents per share, compared with a loss of $30.6 million, or a loss of 24 cents per share, in the year-earlier period.