Darden Restaurants (NYSE: DRI) reported earnings on March 22. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Feb. 24 (Q3), Darden Restaurants met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue increased. GAAP earnings per share dropped significantly.

Margins shrank across the board.

Revenue details
Darden Restaurants reported revenue of $2.26 billion. The 27 analysts polled by S&P Capital IQ hoped for revenue of $2.26 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.02. The 31 earnings estimates compiled by S&P Capital IQ forecast $1.01 per share. GAAP EPS of $1.02 for Q3 were 18% lower than the prior-year quarter's $1.25 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 22.4%, 230 basis points worse than the prior-year quarter. Operating margin was 9.1%, 230 basis points worse than the prior-year quarter. Net margin was 6.0%, 160 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $2.25 billion. On the bottom line, the average EPS estimate is $1.04.

Next year's average estimate for revenue is $8.51 billion. The average EPS estimate is $3.17.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 402 members out of 525 rating the stock outperform, and 123 members rating it underperform. Among 159 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 137 give Darden Restaurants a green thumbs-up, and 22 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Darden Restaurants is hold, with an average price target of $50.23.

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