NEW YORK (TheStreet) -- Buffalo Wild Wings (BWLD) shares are diving 10.41% to $163.22 in after-hours trading on Wednesday following the company's third quarter fiscal 2015 earnings results that missed analysts' estimates.
For the quarter ended September 27, the company earned $1 a share on revenue of $455.5 million.
Analysts had expected the company to earn $1.29 a share on revenue of $465 million.
In the same period the year before, the company earned $1.14 a share on revenue of $373.5 million.
Even though financial results fell short of estimates, the company did better in sales this quarter compared to last year's.
"Our same-store sales in the third quarter increased 3.9% at company-owned restaurants and 1.2% at franchised locations, despite a shift in the sports calendar resulting in one less week of football and fewer pay-per-view events than last year," CEO Sally Smith stated.
However, profit fell year-over-year due to depreciation, amortization and other costs related to the recently completed franchise acquisition.
During the latest quarter, the company acquired 41 franchised locations in Texas, New Mexico, and Hawaii, which includes two restaurants under development.
Looking ahead, the company now expects single-digit net earnings growth for the year, below its previous outlook of a 13% earnings growth.
Based in Minneapolis, Buffalo Wild Wings owns, operates, and franchises restaurants.
Separately, TheStreet Ratings team rates BUFFALO WILD WINGS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
We rate BUFFALO WILD WINGS INC (BWLD) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: BWLD
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