Bob Evans Farms (BOBE) Reports In-Line Q1 EPS, Riases Buyback Plan, Reaffirms FY15 EPS Guidance

Bob Evans Farms (NASDAQ: BOBE) reported Q1 EPS of $0.10, in-line with the analyst estimate of $0.10. Revenue for the quarter came in at $326.3 million versus the consensus estimate of $328.61 million.Bob Evans Farms reaffirmed FY2014 guidance. Comps declined 2%.

Company's $100 million share repurchase authorization increased to $150 million.

Fiscal year 2015 commentary and outlook

"We are reaffirming our fiscal 2015 diluted EPS guidance range of $1.90 to $2.20. Given recent sow cost trends, we have raised second-quarter sow cost guidance to $90 to $95 per hundredweight from $80 to $90 per hundredweight, and raised our full fiscal year estimate to $87 per hundredweight from $85 per hundredweight. Additionally, we expect modest pressure on Bob Evans Restaurants' cost of sales. However, exclusion of activism costs and a lower anticipated effective tax rate are expected to offset these impacts," said Chief Financial Officer Mark Hood.

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

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