Pantry Earnings: Everything You Must Know Now

Pantry Inc. (NASDAQ:PTRY) 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.

Pantry Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 60% to $0.28 in the quarter versus EPS of $0.70 in the year-earlier quarter.

Revenue: Decreased 6.76% to $1.99 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Pantry Inc. reported adjusted EPS income of $0.28 per share. By that measure, the company missed the mean analyst estimate of $0.47. It missed the average revenue estimate of $2 billion.

Quoting Management: President and Chief Executive Officer Dennis G. Hatchell said, “I am pleased with the progress we made during the third quarter. Our comparable store merchandise sales growth moved back into positive territory as average sales per customer increased 2.5% compared to the prior year quarter. Additionally, we slowed the rate of decline in retail fuel gallons sold. However, fuel margins were $0.023 per gallon lower than during last year’s third quarter leading to the decline in Adjusted EBITDA.”

Key Stats (on next page)…

Revenue increased 5.31% from $1.89 billion in the previous quarter. EPS increased to $0.28 in the quarter versus EPS of $-0.28 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.45 to a profit $0.37. For the current year, the average estimate has moved down from a profit of $0.69 to a profit of $0.49 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)