Bob Evans Farms fiscal 2Q profit tops expectations, revenue shy of Wall Street forecasts

MarketsAssociated Press

Bob Evans Farms Inc. on Tuesday reported fiscal second-quarter net income that topped expectations although its revenue came in shy of Wall Street forecasts.

The restaurant chain narrowed its full-year profit guidance and its revenue forecast fell short of market expectations.

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The company, based in New Albany, Ohio, earned $6 million, or 25 cents per share for the period that ended Oct. 24. Its earnings, adjusted for non-recurring costs, came to 36 cents per share. It reported revenue of $333.3 million for the quarter.

Analysts polled by FactSet were anticipating earnings of 34 cents per share on revenue of $343.9 million.

Bob Evans narrowed its adjusted full-year earnings forecast, saying it expects a profit of $1.90 to $2.10 per share from a previous range of $1.90 to $2.20 a share; analysts had forecast $1.92. The company anticipates revenue in the range of $1.35 billion to $1.37 billion, short of the $1.38 billion analysts were expecting.

The company has been working with several advisory firms to improve its productivity and cost controls. It also said Tuesday that it has hired Lazard to review its strategic and financial plans.

Its shares were unchanged at $55.79 in after-hours trading following the report. They have risen 10 percent since the beginning of the year.

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Elements of this story wer generated by Automated Insights using data from Zacks Investment Research. BOBE stock research report from Zacks.

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Keywords:Bob Evans Farms,Earnings Report