Wall Street is optimistic about Panera Bread, which is slated to report its third quarter results on Tuesday, October 28, 2014. Analysts project a profit of $1.43 a share, a rise from $1.35 per share a year ago.
The consensus estimate has risen over the past month, from $1.42, but it's below the estimate of $1.54 from three months ago. Analysts are projecting earnings of $6.71 per share for the fiscal year. Revenue is expected to be $620.4 million for the quarter, 8% higher than the year-earlier total of $572.5 million. For the year, revenue is projected to come in at $2.53 billion.
The company has been profitable for the last eight quarters, and for the last four, profit has risen year-over-year by an average of 6%. The company benefited from the 17% growth in the third quarter, which was its quarter with the biggest gain.
Revenue rose for the past two quarters in a row. In the most recent quarter, revenue rose 10% year-over-year to $631.1 million. The quarter before that, it rose 8%.
The majority of analysts (58%) rate Panera Bread as a buy. This compares favorably to the analyst ratings of six similar companies, which average 54% buys.
Panera Bread and its subsidiaries operate a retail bakery-cafe business and franchising business. Einstein Noah Restaurant Group, also in the restaurants industry, will report earnings on Friday, October 31, 2014. Analysts are expecting earnings of 22 cents per share for Einstein Noah Restaurant Group, the same as last year's results. Other companies in the restaurants industry with upcoming earnings release dates include: Wendy's, Cosi and Nathan's Famous.
Earnings estimates provided by Zacks.
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