Bob Evans Profit Beats Street; Lifts FY EPS Guidance, Cuts Sales Expectations

(RTTNews) - Bob Evans Farms Inc (BOBE) on Tuesday reported first-quarter net earnings of $4.3 million or $0.19 per share compared with a loss of $1.02 million or $0.04 per share last year.

Excluding items, adjusted earnings for the quarter were $0.51 per share compared with $0.10 per share a year ago.

Revenues for the quarter were lower at $321.7 million compared with $326.3 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.30 per share on revenues of $323.2 million for the quarter. Analysts' estimates typically exclude special items.

Bob Evans Restaurants' same store sales for the quarter were down 0.3%.

For the full year 2016, the company now expects adjusted earnings of $1.85 to $2.00 per share on revenues of $1.33 billion to $1.39 billion. Earlier it expected earnings of $1.75 to $1.95 per share on sales of $1.34 billion to $1.41 billion

Analysts expect earnings of $1.85 per share on revenues of $1.36 billion for the year.

The company expects 2016 Bob Evans Restaurants' same store sales to increase 1% to 2%.