Buffalo Wild Wings Profit Down, Cuts Outlook; Shares Tank

(RTTNews) - Buffalo Wild Wings, Inc. (BWLD) Wednesday reported a drop in profit for the third quarter despite a 22 percent growth in revenues, as higher labor and operation costs hurt the company's bottom line.

Third-quarter profit dropped to $19.2 million or $1.00 per share from $21.8 million or $1.14 per share last year. Analysts polled by Thomson Reuters expected profit of $1.29 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $455.5 million from $373.5 million last year. Analysts had a consensus revenue estimate of $465.0 million.

Looking forward, Buffalo Wild Wings now expects single-digit earnings growth for the full year, down from prior estimate of of 13 percent.

BWLD closed Wednesday's trading at $184.40, up $2.21 or 1.21%, on the Nasdaq. The stock further dropped $25.15 or 13.64% in the after-hours trade