Panera Bread Company (PNRA - Free Report) released its fourth quarter 2016 financial results, posting earnings of $2.05 per share and revenues of $727.1 million. Currently, PNRA is a Zacks Rank #3 (Hold), and is up 2.58% to $219.80 per share in after-hours trading shortly after its earnings report was released.

Beat earnings estimates. The company posted earnings of $2.05 per share, topping the Zacks Consensus Estimate of $2.00 per share, which excludes 13 cents from non-recurring items.

Missed revenue estimates. The company saw revenue figures of $727.1 million, missing our consensus estimate of $728 million.

Panera’s 2016 company comparable-store sales rose 4.2%, up 7.2% over a two-year period. The company’s Q4 2016 company-owned comparable net bakery-cafe sales rose 3.0%, up 6.6% over a two-year period.

Panera closed 2016 offering delivery in 15% of system-wide bakery-cafes. In 2017, the company hopes to grow that number up to 30% to 40%.The St. Louis-based food chain digital sales currently account for 24% of total sales. And it just secured a new five-year $200 million term loan.

"With peak investments and significant scale behind us, we are now focused on completing the rollout of our initiatives and reaping the benefits,” said Ron Shaich, Chairman and CEO in a press release.

“Because of the strength of our initiatives, we are confident our efforts will translate into market share gains and sustainable double digit earnings growth. Specifically, in 2017 we expect our results to again improve as we are today announcing a comp target of 3.5% to 4.5% and a non-GAAP EPS growth target of 11% to 14%.”

Here’s a graph that looks at Panera’s Price, Consensus and EPS Surprise.

Panera Bread Company Price, Consensus and EPS Surprise

Panera Bread Company Price, Consensus and EPS Surprise | Panera Bread Company Quote

Panera Bread Company operates a retail bakery-cafe business and franchising business under the concept names Panera Bread Company and Saint Louis Bread Company. The concept specializes in high quality food for breakfast and lunch, including fresh baked goods, made-to-order sandwiches on freshly baked breads, soups, salads, custom roasted coffees, as well as other cafe beverages, and targets suburban dwellers and workers by offering a premium specialty bakery and cafe experience with a neighborhood experience.