Panera Bread Co. just released its financial results for first quarter of 2017, posting earnings of $1.83 earnings per share and revenues of $727.6 million. Currently, Panera is a Zacks Rank #3 (Hold) and is down 0.11% to $313.72 per share in trading shortly after its earnings report was released.
Missed earnings estimates. The company posted earnings of $1.83 per share, missing the Zacks Consensus Estimate of $1.84 earnings per share. This number excludes 5 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $727.6 million, topping our consensus estimate of $718 million.
Digital sales are now 26% of Panera’s total sales in Company-owned bakery-cafes. Net income increased 30% to $42 million from $35 million. Furthermore, the company’s delivery program is now available in 24% of system-wide bakery-cafes.
The company entered a definitive merger agreement with JAB earlier this month and is expected to close during the third quarter of 2017.
“The themes we have bet on - digital, clean food, loyalty, delivery, and new formats for growth - are shaping the restaurant industry today,” said Ron Shaich, Chairman and CEO. “With peak investments and significant scale behind us, our year-over-year growth in GAAP EPS was up 30% and non-GAAP EPS was up 17% in Q1, our best quarter in four years.”
Here’s a graph that looks at Panera’s latest earnings performance:
Panera Bread Company operates a retail bakery-cafe business and franchising business under the concept names Panera Bread Company and Saint Louis Bread Company. The concept specializes in high quality food for breakfast and lunch, including fresh baked goods, made-to-order sandwiches on freshly baked breads, soups, salads, custom roasted coffees, as well as other cafe beverages, and targets suburban dwellers and workers by offering a premium specialty bakery and cafe experience with a neighborhood experience.
Check back later for our full analysis on Panera’s earnings report!
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Panera Bread Co. just released its financial results for first quarter of 2017, posting earnings of $1.83 earnings per share and revenues of $727.6 million. Currently, Panera is a Zacks Rank #3 (Hold) and is down 0.11% to $313.72 per share in trading shortly after its earnings report was released.
Missed earnings estimates. The company posted earnings of $1.83 per share, missing the Zacks Consensus Estimate of $1.84 earnings per share. This number excludes 5 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $727.6 million, topping our consensus estimate of $718 million.
Digital sales are now 26% of Panera’s total sales in Company-owned bakery-cafes. Net income increased 30% to $42 million from $35 million. Furthermore, the company’s delivery program is now available in 24% of system-wide bakery-cafes.
The company entered a definitive merger agreement with JAB earlier this month and is expected to close during the third quarter of 2017.
“The themes we have bet on - digital, clean food, loyalty, delivery, and new formats for growth - are shaping the restaurant industry today,” said Ron Shaich, Chairman and CEO. “With peak investments and significant scale behind us, our year-over-year growth in GAAP EPS was up 30% and non-GAAP EPS was up 17% in Q1, our best quarter in four years.”
Here’s a graph that looks at Panera’s latest earnings performance:
Panera Bread Company operates a retail bakery-cafe business and franchising business under the concept names Panera Bread Company and Saint Louis Bread Company. The concept specializes in high quality food for breakfast and lunch, including fresh baked goods, made-to-order sandwiches on freshly baked breads, soups, salads, custom roasted coffees, as well as other cafe beverages, and targets suburban dwellers and workers by offering a premium specialty bakery and cafe experience with a neighborhood experience.
Check back later for our full analysis on Panera’s earnings report!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere
1 billion iPhones in 10 years but a new breakthrough is expected to generate more
than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging
phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may
kick yourself in 2020. Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>