Panera Bread (Nasdaq: PNRA) is expected to report Q2 earnings on July 23. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Panera Bread's revenues will grow 12.3% and EPS will increase 18.0%.

The average estimate for revenue is $595.8 million. On the bottom line, the average EPS estimate is $1.77.

Revenue details
 Last quarter, Panera Bread chalked up revenue of $561.8 million. GAAP reported sales were 13% higher than the prior-year quarter's $498.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $1.59. GAAP EPS of $1.64 for Q1 were 17% higher than the prior-year quarter's $1.40 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 35.2%, 20 basis points better than the prior-year quarter. Operating margin was 13.6%, 10 basis points better than the prior-year quarter. Net margin was 8.6%, 30 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.44 billion. The average EPS estimate is $7.04.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,419 members out of 1,567 rating the stock outperform, and 148 members rating it underperform. Among 501 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 474 give Panera Bread a green thumbs-up, and 27 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Panera Bread is outperform, with an average price target of $186.43.

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