Panera Bread Beats on Both Top and Bottom Lines
Panera Bread (NAS: PNRA) reported earnings on July 24. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 26 (Q2), Panera Bread beat expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share increased significantly.
Margins expanded across the board.
Panera Bread logged revenue of $530.6 million. The 20 analysts polled by S&P Capital IQ foresaw sales of $516.9 million on the same basis. GAAP reported sales were 18% higher than the prior-year quarter's $451.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.50. The 24 earnings estimates compiled by S&P Capital IQ predicted $1.43 per share. GAAP EPS of $1.50 for Q2 were 27% higher than the prior-year quarter's $1.18 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 36.2%, 110 basis points better than the prior-year quarter. Operating margin was 13.6%, 90 basis points better than the prior-year quarter. Net margin was 8.3%, 40 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $516.1 million. On the bottom line, the average EPS estimate is $1.19.
Next year's average estimate for revenue is $2.10 billion. The average EPS estimate is $5.72.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,301 members out of 1,445 rating the stock outperform, and 144 members rating it underperform. Among 428 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 399 give Panera Bread a green thumbs-up, and 29 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Panera Bread is outperform, with an average price target of $174.41.
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The article Panera Bread Beats on Both Top and Bottom Lines originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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