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.
Continue Reading Below
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.
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