Bob Evans Farms (BOBE) Reports In-Line Q1 EPS, Beats on Revenues; FY18 EPS/Revenue Mid-Point Guidance Above Consensus

Bob Evans Farms (NASDAQ: BOBE) reported Q1 EPS of $0.37, in-line with the analyst estimate of $0.37. Revenue for the quarter came in at $109.3 million versus the consensus estimate of $102.29 million.

• First quarter net sales increase 27.1% to $109.3 million as compared to $85.9 million1 in the comparable period in fiscal 2017; net sales increased 11.1% excluding Pineland net sales and sales to Bob Evans Restaurants (now 3rd party);
• First quarter retail side-dish and sausage pounds-sold increased 18.1 percent (excluding Pineland) and 13.0 percent, respectively, when compared to the comparable period last year;
• GAAP net income of $0.35 per diluted share compared to $0.231 in the prior year. Non-GAAP net income of $0.37 per diluted share, an increase of 60.9% compared to $0.231 in the prior year;
• Adjusted EBITDA increased 38.3% to $19.5 million as compared to $14.1 million1 in the comparable period in fiscal 2017;
• Company increases fiscal year 2018 guidance and now expects net sales of $480 million at the midpoint of its range, adjusted EBITDA of $107 million at the midpoint of its range, and non-GAAP diluted EPS of $2.10 to $2.30;
• Quarterly dividend of $0.34 per share payable on September 18, 2017, to stockholders of record at the close of business on September 4, 2017.

GUIDANCE:

Bob Evans Farms sees FY2018 EPS of $2.10-$2.30, versus the consensus of $2.17. Bob Evans Farms sees FY2018 revenue of $480 million, versus the consensus of $472.32 million.

For earnings history and earnings-related data on Bob Evans Farms (BOBE) click here.

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