$BOBE (Bob Evans Farms, Inc.)

$BOBE {{ '2016-06-15T12:57:40+0000' | timeago}} • Webcast

Operator of Bob Evans Restaurants $BOBE said that 4Q16 net sales were $345.6MM, up 4% or $13.2MM vs. 4Q15. The company's non-GAAP net income for the quarter was $9.5MM or $0.48 per diluted share vs. $13.2MM or $0.56 per diluted share in 4Q15. For FY16, $BOBE reported consolidated GAAP operating income was $36.2MM vs. $17.7MM in FY15.

$BOBE {{ '2017-06-15T13:26:32+0000' | timeago}} • Webcast

On the side-dish business growth expectations, $BOBE stated that it expects low double digit growth overall, including both retail and foodservice. However the company added that the priority is retail, as that's where the brand equity lies.

$BOBE {{ '2017-06-15T13:14:37+0000' | timeago}} • Webcast

$BOBE's said it expects FY18 CapEx to be in the range of $25-30MM and year-end 2018 borrowings to range between $90-100MM. $BOBE also expects its long term annual sales growth to be in the mid to high single digit range, with EBITDA percentage growth of high single to low double digits annually.

$BOBE {{ '2017-06-15T12:56:01+0000' | timeago}} • Webcast

$BOBE completed the sale of Bob Evans Restaurants in 4Q17 and completed the acquisition of Pineland Farms Potato Company on May 1, 2017, reshaping the company as a pure play packaged foods business. The reported earnings for the quarter included a $155.7MM gain on the sale of restaurants and cost and adjustments associated with the sale.

$BOBE {{ '2017-06-15T12:11:48+0000' | timeago}} • Announcement

$BOBE’s 4Q17 profit surged to $108.87MM or $5.39 per share from $0.58MM or $0.03 per share last year, helped by a 5% growth in sales from continuing operations. Non-GAAP EPS climbed 27.1% YoY to $0.61. Retail Side-dish and Sausage Pounds sold increased 11.5% and 9.2%, respectively. Bob Evans completed the sale of its restaurants division in 4Q17.

$BOBE {{ '2017-06-15T12:11:02+0000' | timeago}} • Announcement

$BOBE reaffirmed its fiscal 2018 sales outlook of $464-476MM and EBITDA forecast of $102-108MM. It expects to record earnings of $2.06-$2.24 per share in the year. The company declared a dividend of $0.34 per share in 4Q17, payable on June 26, 2017, to stockholders of record as on June 12, 2017.

$FCPT {{ '2017-05-01T19:45:55+0000' | timeago}} • Webcast

$FCPT has acquired 16 Bob Evans Restaurants properties as part of a $35.1MM sale-leaseback transaction. The transaction was completed simultaneously with Golden Gate Capital’s acquisition of Bob Evans Restaurants from $BOBE.

$BOBE {{ '2017-05-01T19:00:44+0000' | timeago}} • Announcement

$BOBE BoD declared special dividend of $7.50 per share payable on June 16, 2017, to stockholders of record at the close of business on May 30, 2017. The company also established a new $300MM credit facility maturing April 28, 2022.

$BOBE {{ '2017-05-01T18:59:33+0000' | timeago}} • Announcement

$BOBE announced the completion of sales of Bob Evans Restaurants to Golden Gate Capital and the completion of its acquisition of Pineland Farms Potato Company. Mike Townsley, President, BEF Foods, assumes the role of President and CEO of Bob Evans Farms, Inc.

$BOBE {{ '2017-03-08T17:49:48+0000' | timeago}} • Webcast

During 3Q17, $BOBE’s retail channel pounds sold increased nearly 8% with retail side dish products growing approx. 13% and sausage gain of 3%. Food service sales were also strong with 19% pounds sold growth YoY.

$BOBE {{ '2017-03-08T17:39:33+0000' | timeago}} • Webcast

In 3Q17, at $BOBE’s Bob Evans Foods segment, which now comprises continuing operations, net sales were $112.8MM, an increase of 4.6% compared to 3Q16. Pounds sold increased 7.6% while average net selling price per pound declined 2.8% compared to 3Q16.

$BOBE {{ '2017-03-08T17:28:04+0000' | timeago}} • Webcast

At 3Q17-end, $BOBE’s cash balance and outstanding debt were $2.4MM and $330.1MM, respectively, versus $6.3MM and $496MM at 3Q16-end. The decrease in borrowings was primarily due to the use of proceeds from recent real estate monetization transactions and operating cash flow to reduce debt, partially offset by share repurchases, Capex and dividends.

$BOBE {{ '2017-03-08T13:02:00+0000' | timeago}} • Announcement

For FY17, $BOBE raised non-GAAP diluted EPS in the range of $.22-2.32, from prior outlook of $2.15-2.30 per share, to reflect the impact of lower net sow costs and continued focus on operating efficiency. The company expects BEF Food net sales to be in the range of $390-410MM.

$BOBE {{ '2017-03-08T12:55:13+0000' | timeago}} • Announcement

Restaurant chain operator $BOBE 3Q17 earnings fell 36%, due to higher operating expense and impairments. Net income fell to $8.2MM, or $0.62 per share, compared to $12.9MM, or $0.62 per share during 3Q16. Net sales rose 4.6% YoY to $112.8MM. Excluding items, $BOBE earned $0.75 per share.

$BOBE {{ '2017-01-25T15:38:27+0000' | timeago}} • Announcement

$BOBE expects FY18 preliminary revenue of $470MM and EBITDA of $105MM. The company expects to establish a $300MM credit facility at the time of the transaction closing and expects that its targeted leverage range will be 1.0-2.0x which provides considerable flexibility to continue to grow and invest in BEF Foods.

$BOBE {{ '2017-01-25T15:36:28+0000' | timeago}} • Announcement

$BOBE reaffirmed its FY17 non-GAAP EPS guidance of $2.15-2.30, assuming a closing date of April 28, 2017. It is $BOBE's expectation that its BoD will declared a special dividend of about $150MM ($7.50 per share) representing net cash proceeds from the sale of Bob Evans Restaurants after repayment of debt within 60 days following the transaction.

$BOBE {{ '2017-01-25T15:34:15+0000' | timeago}} • Announcement

$BOBE entered into a definitive agreement for the purchase of Pineland Farms Potato Company (PFPC) for $115MM. The purchase price may be increased by up to $25MM if certain financial metrics are achieved during a 24-month period after closing.

$BOBE {{ '2017-01-25T15:32:52+0000' | timeago}} • Announcement

$BOBE entered into a definitive agreement for the sale of Bob Evans Restaurants to an affiliate of Golden Gate Capital for $565MM plus assumption of certain net working capital liabilities at the time of closing estimated to be $40-50MM. $BOBE expects that cash proceeds net of taxes and transaction-related costs to be $475-485MM.

$BOBE {{ '2017-01-25T15:31:11+0000' | timeago}} • Announcement

$BOBE  announced two transformational transactions resulting from the BoD's strategic review of its alternatives for creating shareholder value. The sale of Bob Evans Restaurants and acquisition of Pineland Farms Potato marks beginning of a new era at $BOBE whereby it will focus exclusively on realizing full potential of its BEF Foods business.

$SONC {{ '2017-01-19T22:01:46+0000' | timeago}} • Announcement

Restaurant chain operator $SONC elected Steven Davis to its Board of Directors. Davis is former CEO of $BOBE. The company also announced a new antibiotic use policy for chicken as part of its animal welfare program beginning effective immediately. $SONC is also reviewing its policies regarding antibiotics use for beef and pork.

$BOBE {{ '2016-12-06T14:41:59+0000' | timeago}} • Webcast

$BOBE commented that Florida is one of its strongest market for its restaurant side. The company added that it is optimistic about the success of Ohio and Pennsylvania in future. On the acquisition landscape, $BOBE said the company is continuing to evaluate all possible options for both of its businesses.

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