Bob Evans Falls 5% After Earnings

Shares of Bob Evans Farms BOBE have lost 5% in the wake of a disappointing earnings report released on Tuesday after the closing bell. Volume has been heavier than normal with 324,000 shares already changing hands compared to a daily average of under 200,000. The company reported adjusted EPS of $0.47 per share versus $0.56 per share in the year ago period. This missed analysts' consensus EPS estimates of $0.53. Revenues came in at $407.2 million which was a 2.4% decrease from the $417 million the company reported in last year's corresponding quarter. This also missed Street consensus estimates of $411.5 million. Bob Evans Farms, Inc. (Bob Evans) is a full-service restaurant company that operates two restaurant concepts: Bob Evans Restaurants and Mimi's Cafes. The Company also owns and operates BEF Foods, Inc. (BEF Foods), a producer and distributor of pork sausage and complementary homestyle convenience food items.