The 10-second takeaway
For the quarter ended March 28 (Q2), Pantry missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP loss per share contracted. GAAP loss per share dropped.
Gross margins shrank, operating margins were steady, net margins increased.
Pantry logged revenue of $1.89 billion. The five analysts polled by S&P Capital IQ foresaw a top line of $1.93 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.28. The four earnings estimates compiled by S&P Capital IQ forecast -$0.22 per share. Non-GAAP EPS were -$0.28 for Q2 compared to -$0.30 per share for the prior-year quarter. GAAP EPS were -$0.30 for Q2 compared to -$0.43 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 10.0%, 20 basis points worse than the prior-year quarter. Operating margin was 0.5%, much about the same as the prior-year quarter. Net margin was -0.4%, 10 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.11 billion. On the bottom line, the average EPS estimate is $0.53.
Next year's average estimate for revenue is $8.07 billion. The average EPS estimate is $0.66.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 201 members out of 219 rating the stock outperform, and 18 members rating it underperform. Among 63 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 60 give Pantry a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pantry is outperform, with an average price target of $15.25.
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