Panera second-quarter profit falls 3.6 percent, misses forecast

MarketsAssociated Press

Panera Bread Co. (PNRA) on Tuesday reported earnings that decreased by 3.6 percent in its second quarter, and missed analysts' expectations.

The St. Louis-based company said net income dropped to $49.2 million, or $1.82 per share, from $51 million, or $1.74 per share, in the same quarter a year earlier.

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Earnings, adjusted for non-recurring gains, were $1.74 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.

The chain of bakery-cafes said revenue climbed 7.1 percent to $631.1 million from $589 million in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $640.3 million, according to Zacks.

Panera shares have decreased $30.07, or 17 percent, to $146.62 since the beginning of the year. The stock has fallen $19.57, or 12 percent, in the last 12 months.

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This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full PNRA report: http://www.zacks.com/ap/PNRA

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Keywords:Panera,Earnings Report