Bojangles Shares Higher After Company Tops Expectations

Chicken-and-biscuit restaurant chain Bojangles' Inc. on Thursday said it earned an adjusted $6.2 million, or 17 cents a share, in the first quarter, compared with earnings of $5 million, or 14 cents a share, a year ago. Revenue increased 19% to $114.6 million in the quarter, the company said. Analysts polled by FactSet had expected Bojangles' to report adjusted earnings of 15 cents a share on sales of $114 million in the quarter. The Charlotte, N.C., fast-food chain, which has most of its restaurants in the Southeast U.S., went public last month. Comparable restaurant sales increased 7.9%, the company said. Higher sales were thanks to new-restaurant openings and comparable-restaurant sales growth at company-operated and franchised restaurants, Bojangles' said. Shares of Bojangles' rose 0.6% in after-hours trading after ending the regular session up 1.7%.