Panera posts 3Q profit, results miss Wall Street forecasts

MarketsAssociated Press

SAINT LOUIS, Mo. (AP) — Panera Bread Co. (PNRA) on Tuesday reported third-quarter net income of $39.2 million.

The Saint Louis, Missouri-based company said it had profit of $1.46 per share. Earnings, adjusted for pretax gains, were $1.38 per share.

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The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The chain of bakery-cafes posted revenue of $619.9 million in the period, also falling short of Street forecasts. Analysts expected $620.5 million, according to Zacks.

Panera expects full-year earnings to be $6.60 to $6.70 per share.

Panera shares have fallen 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $171, a climb of slightly more than 7 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. PNRA stock research report from Zacks.

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Keywords:Panera,Earnings Report