Panera Bread Co. (NASDAQ:PNRA) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 5.22%.
Panera Bread Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 16% to $1.74 in the quarter versus EPS of $1.50 in the year-earlier quarter.
Revenue: Rose 11.01% to $589 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Panera Bread Co. reported adjusted EPS income of $1.74 per share. By that measure, the company missed the mean analyst estimate of $1.77. It missed the average revenue estimate of $596.02 million.
Quoting Management: Ron Shaich, Chairman and Co-CEO, commented, “In the second quarter of 2013, we delivered within the range of our diluted EPS guidance. Our two-year comparable same store sales growth for the quarter was strong at 10.9% and our new unit sales remain on track for another record year, reaffirming how strongly our brand resonates with consumers. However, our one-year comparable same store sales growth of 3.8% was below our expectations.”
Key Stats (on next page)…