Panera Reports Mixed Q1 Results; Raises Full-Year Earnings Outlook

High-flying restaurant company Panera Bread Co. PNRA released its first-quarter earnings results after the closing bell on Tuesday. The St. Louis based company reported net income of $41.18 million or $1.40 per share, compared to $32.77 million or $1.09 per share, in last year's corresponding quarter. This came in ahead of Wall Street consensus EPS estimates of $1.35. Revenues in the quarter were $498.58 million, up from the $422.10 million that PNRA reported in last year's first quarter. This missed analysts' consensus revenue estimates of $500.76 million. Looking ahead to the second quarter, PNRA sees earnings per share between $1.40 and $1.43. This compares to current Wall Street EPS estimates of $1.40 for the second quarter. For the full year, PNRA expects earnings per share between $5.58 and $5.63 versus its prior outlook of $5.50 and $5.55. Currently, Wall Street analysts project that PNRA will report full-year EPS of $5.61. In Tuesday's after hours trading session, PNRA shares have risen 1.18% in the wake of the company's Q1 results and updated guidance.