Panera Bread (Nasdaq: PNRA) is expected to report Q1 earnings on April 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 increase 13.5% and EPS will increase 17.9%.

The average estimate for revenue is $566.0 million. On the bottom line, the average EPS estimate is $1.65.

Revenue details
 Last quarter, Panera Bread reported revenue of $571.5 million. GAAP reported sales were 15% higher than the prior-year quarter's $495.8 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, EPS came in at $1.75. GAAP EPS of $1.75 for Q4 were 34% higher than the prior-year quarter's $1.31 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 24.3%, 30 basis points better than the prior-year quarter. Operating margin was 14.6%, 100 basis points better than the prior-year quarter. Net margin was 9.0%, 120 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.45 billion. The average EPS estimate is $7.08.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,402 members out of 1,554 rating the stock outperform, and 152 members rating it underperform. Among 465 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 438 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 $182.86.

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