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Panoramic imagery offers a full 360° field of view and is increasingly common in consumer devices. However, it introduces non-pinhole distortions that challenge joint pose estimation and 3D reconstruction. Existing feed-forward models, built for perspective cameras, generalize poorly to this setting. We propose PanoVGGT, a permutation-equivariant Transformer framework that jointly predicts camera poses, depth maps, and 3D point clouds from one or multiple panoramas in a single forward pass. The model incorporates spherical-aware positional embeddings and a panorama-specific three-axis SO(3) rotation augmentation, enabling effective geometric reasoning in the spherical domain. To resolve inherent global-frame ambiguity, we further introduce a stochastic anchoring strategy during training. In addition, we contribute PanoCity, a large-scale outdoor panoramic dataset with dense depth and 6-DoF pose annotations. Extensive experiments on PanoCity and standard benchmarks demonstrate that PanoVGGT achieves competitive accuracy, strong robustness, and improved cross-domain generalization. Code and dataset will be released.