Bojangles Shares Slide After Earnings Beat, Boosted Outlook

Bojangles Inc. shares slid in the extended session Wednesday even after the Southern-themed fast-food chain topped Wall Street estimates for the third quarter and improve its outlook. Bojangles shares declined 4% to $17.20 at last check. The company reported adjusted third-quarter earnings of 23 cents a share on revenue of $124.3 million. Analysts surveyed by FactSet had forecast earnings of 18 cents a share on revenue of $122.8 million. Bojangles forecast full-year adjusted earnings of 79 cents to 81 cents a share on revenue of $486 million to $488 million. Analysts estimate 76 cents a share on revenue of $485.7 million.