Bob Evans Farms (BOBE) Misses Q3 EPS by 27c
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Price: $77.01 --0%
Financial Fact:
Cash Dividends Paid Per Share: 0.34
Today's EPS Names:
CP, RUSHA, SEIC, More
Financial Fact:
Cash Dividends Paid Per Share: 0.34
Today's EPS Names:
CP, RUSHA, SEIC, More
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Bob Evans Farms (NASDAQ: BOBE) reported Q3 EPS of $0.30, $0.27 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $340.13 million versus the consensus estimate of $350.54 million.
Comps fell 1.8 percent.
Chairman and Chief Executive Officer Steve Davis said, "The third quarter of fiscal 2014 was especially challenging due to a number of factors, including: sustained and severe winter weather of a magnitude not seen in many years, particularly in our core Midwest markets; continued higher than projected sow costs; and higher than projected fiscal 2014 startup inefficiencies following the expansion of the BEF Foods' Sulphur Springs, Texas, plant. However, we expect these issues will be confined to fiscal 2014, and as such will not impact fiscal 2015 results.
"With the capital investments and expenses associated with our recent transformational investment programs, including the Farm Fresh Refresh program and BEF Foods' plant expansion projects completed by the end of fiscal year 2014, we expect improved free cash flow and earnings performance beginning in fiscal year 2015. As a result, today we are announcing:
-- an increase in our long-term annual diluted EPS growth guidance range to 10 to 12 percent;
-- a preliminary fiscal year 2015 diluted EPS guidance range of $2.80 to $3.00; and
-- a newly authorized share repurchase program of up to $100 million for fiscal year 2015."
Bob Evans Farms sees FY2014 EPS of $1.60-$1.75, versus the consensus of $2.26.
For earnings history and earnings-related data on Bob Evans Farms (BOBE) click here.
Comps fell 1.8 percent.
Chairman and Chief Executive Officer Steve Davis said, "The third quarter of fiscal 2014 was especially challenging due to a number of factors, including: sustained and severe winter weather of a magnitude not seen in many years, particularly in our core Midwest markets; continued higher than projected sow costs; and higher than projected fiscal 2014 startup inefficiencies following the expansion of the BEF Foods' Sulphur Springs, Texas, plant. However, we expect these issues will be confined to fiscal 2014, and as such will not impact fiscal 2015 results.
"With the capital investments and expenses associated with our recent transformational investment programs, including the Farm Fresh Refresh program and BEF Foods' plant expansion projects completed by the end of fiscal year 2014, we expect improved free cash flow and earnings performance beginning in fiscal year 2015. As a result, today we are announcing:
-- an increase in our long-term annual diluted EPS growth guidance range to 10 to 12 percent;
-- a preliminary fiscal year 2015 diluted EPS guidance range of $2.80 to $3.00; and
-- a newly authorized share repurchase program of up to $100 million for fiscal year 2015."
Bob Evans Farms sees FY2014 EPS of $1.60-$1.75, versus the consensus of $2.26.
For earnings history and earnings-related data on Bob Evans Farms (BOBE) click here.
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