Updated from 2:02 p.m. EDT
The company earned $17 million, or 58 cents a share, on revenue of $3.27 billion. Analysts polled by Thomson Financial expected earnings of 63 cents a share. During the year-earlier quarter, the company earned $14.5 million, or 50 cents a share, on revenue of $2.86 billion. Shares closed down $4.44 to $39.
Steak n Shake (SNS) tumbled 8.7% after the restaurant chain posted disappointing third-quarter results and cut its full-year guidance. The company earned $124,000, or less than a penny a share, on revenue of $153.6 million. Results included one-time items that cut earnings by 13 cents a share. Analysts expected earnings of 18 cents a share on revenue of $156.9 million. During the year-earlier quarter, the company earned $7.3 million, or 26 cents a share, on revenue of $150.4 million.Looking ahead, Steak n Shake now sees full-year earnings of 40 cents to 48 cents a share, down from an earlier forecast of 53 cents to 67 cents a share. The company now sees same-store growth falling 4% to 5%. Previously, the company said that sales would fall 2% to 4%. Shares closed down $1.47 to $15.42. Shares of Family Dollar Stores (FDO - Get Report) slid 2% after Oppenheimer downgraded shares to neutral from buy. The downgrade comes a day after Family Dollar cut its fourth-quarter earnings guidance and warned that results would be below analysts' expectations. Shares closed down 53 cents to $26.11.