$BOBE (Bob Evans Farms, Inc.)

$BOBE {{ '2016-08-31T17:03:33+0000' | timeago}} • Webcast

$BOBE's 1Q17 CapEx was $90MM. Significant investments were related to the expansion at BEF Foods, Lima, Ohio refrigerated side-dish facility, continued implementation of the ERP system, retail technology platform including POS Bob Evans Restaurants, and maintenance CapEx at Bob Evans Restaurants & BEF Foods.

$POST {{ '2017-09-19T17:30:34+0000' | timeago}} • Announcement

$POST announced that it will acquire $BOBE for $77.00 per share, at an equity value of $1.5Bil. Jim Dwyer will continue in his current role as President and CEO of the Michael Foods Group. Post management expects Bob Evans to contribute approximately $107MM of adjusted EBITDA on an annual basis.

$BOBE {{ '2017-09-19T16:38:36+0000' | timeago}} • Announcement

Rowley Law PLLC is investigating potential claims against $BOBE and its BoD for breach of fiduciary duty concerning the proposed acquisition of the company by $POST for $77.00 per share in cash. The transaction is valued at about $1.5Bil and is expected to close in the calendar 1Q18.

$BOBE {{ '2017-08-31T19:30:03+0000' | timeago}} • Webcast

During 1Q18, $BOBE's gross profit rose 17.2% to $33.4MM compared to 1Q17, while the gross profit margin rate decreased 260 bp to 30.6%. This decrease was mainly due to a higher mix of foodservice sales as a result of the acquisition of Pineland and 14.8% increase in average sow prices.

$BOBE {{ '2017-08-30T11:51:52+0000' | timeago}} • Announcement

For FY18, $BOBE raised its non-GAAP EPS guidance to the range to $2.10-2.30 per share, from $2.06-2.24. The company expects its net sales to be about $474-486MM.

$BOBE {{ '2017-08-30T11:47:42+0000' | timeago}} • Announcement

$BOBE reported 27.1% rise in its 1Q18 net sales to $109.3MM compared to $85.9MM in 1Q17. This increase was partially due to the sales driven from the recently acquired Pineland business and the sale of Bob Evans restaurant. Net income fell 23% to $7.04MM, or $0.35 per share from $9.16MM, or $0.46 per share in 1Q17. Adjusted EPS was $0.37, up 61%.

$BOBE {{ '2017-08-23T20:18:19+0000' | timeago}} • Announcement

The BoD of $BOBE has approved a quarterly cash dividend of $0.34 per share on the company's outstanding common stock. The dividend is payable on Sept 18, 2017, to stockholders of record as on Sept 4, 2017.

$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.

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