Bob Evans Farms Q4 Profit Tops Street

(RTTNews) - Bob Evans Farms Inc. (BOBE) Tuesday reported a profit for the fourth quarter that plunged from a year ago, nevertheless, both earnings and revenue for the quarter came in ahead of Wall Street's expectations.

New Albany, Ohio-based Bob Evans' fourth-quarter profit dropped to $0.6 million or $0.03 per share from $5.6 million or $0.24 per share last year.

Adjusted earnings for the quarter declined to $0.48 per share from $0.56 per share last year. Analysts polled by Thomson Reuters estimated earnings of $0.43 per share for the quarter.

Net sales for the quarter rose to $345.6 million from $332.4 million last year. Analysts had a consensus revenue estimate of $345.26 million.

BEF Foods' sales increased 1.1 percent, while Bob Evans Restaurant sales declined 4.9 percent from last year.

Looking forward to the full year 2017, Bob Evans expects adjusted earnings of $2.00 to $2.15 per share and sales of $1.28 billion to $1.33 billion. Analysts currently estimate earnings of $2.19 per share and revenues of $1.32 billion for 2017.

BOBE closed Tuesday's trading at $44.74, up $0.42 or 0.95%, on the Nasdaq. The stock, however, dropped $1.11 or 2.48% in the after-hours trade.