Papa John's (PZZA) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.38%. A quarter ago, it was expected that this pizza chain would post earnings of $0.51 per share when it actually produced earnings of $0.61, delivering a surprise of 19.61%.Over the last four quarters, the company h ...

Financial Performance - Total revenues for Q3 2024 were $506.8 million, a decrease of 3.1% compared to $522.8 million in Q3 2023[4] - Global system-wide restaurant sales were $1.19 billion, reflecting a 3% decline from the prior year quarter[5] - Operating income increased to $65.2 million, up from $31.9 million in the same quarter last year, while adjusted operating income decreased by 12.9% to $29.3 million[6] - Diluted earnings per common share rose to $1.27 from $0.48 in Q3 2023, while adjusted diluted earnings per share fell to $0.43 from $0.53[7] - Net income attributable to the Company for the three months ended September 29, 2024, was $41,808,000, up from $15,861,000, representing a 163% increase[28] - Basic earnings per share rose to $1.28, compared to $0.49 in the same quarter last year, marking a 161% increase[28] - Adjusted net income attributable to common shareholders for the nine months ended September 29, 2024, was $56,086,000, compared to $59,938,000 for the same period in 2023, indicating a decline[24] Sales and Comparable Performance - North America comparable sales decreased by 6% year-over-year, with Domestic Company-owned restaurants down 7% and North America franchised restaurants down 5%[1] - Comparable sales for Domestic Company-owned restaurants declined by 6.7% in Q3 2024, compared to a growth of 5.9% in Q3 2023[8] - Domestic company-owned restaurant sales decreased by 4% to $168,672,000 from $177,195,000 year-over-year[28] Cash Flow and Dividends - Free cash flow for the nine months ended September 29, 2024, was $9.0 million, significantly down from $76.0 million in the prior year period[10] - Cash dividends paid in Q3 2024 amounted to $15.2 million, or $0.46 per common share[12] - The Company declared dividends of $0.46 per common share, consistent with the previous year[28] Restaurant Operations and Openings - The company opened 25 net restaurants in Q3 2024, with expectations of over 100 gross openings in North America and 170 to 190 internationally for the fiscal year[1] - As of September 29, 2024, there were 5,908 Papa John's restaurants operating globally, with a net increase of 25 restaurants during the quarter[9] Costs and Expenses - Total costs and expenses decreased to $441,578,000 from $490,944,000, a reduction of approximately 10%[28] - The Company reported a significant increase in depreciation and amortization expenses to $52,528,000 from $46,815,000, reflecting a 12% increase[29] Assets and Liabilities - Total current assets decreased to $215,857,000 as of September 29, 2024, from $231,018,000 at the end of 2023[27] - Total liabilities decreased to $1,275,557,000 as of September 29, 2024, from $1,317,770,000 at the end of 2023[27] - Cash and cash equivalents decreased to $17,550,000 as of September 29, 2024, from $40,587,000 at the end of 2023[27] Challenges and Risks - The company is facing risks related to labor shortages and increased operating costs due to inflation and supply chain disruptions[18] - Future performance may be impacted by economic conditions and potential delays in new restaurant openings domestically and internationally[18] Other Financial Metrics - Net cash provided by operating activities for the nine months ended September 29, 2024, was $55,884,000, down from $126,936,000 in the prior year[29] - The company incurred international restructuring costs of $19,514,000 for the nine months ended September 29, 2024[24] - Total revenues for the three months ended September 29, 2024, were $506,807,000, a decrease of 3% compared to $522,812,000 for the same period in 2023[28]

Papa John's International, Inc. (PZZA) is scheduled to report third-quarter 2024 results on Nov. 7, before the opening bell. In the last reported quarter, its earnings beat the Zacks Consensus Estimate by 19.6%.Papa John's Q3 EstimatesThe Zacks Consensus Estimate for earnings is pegged at 42 cents per share, indicating a decline of 20.8% from the prior-year level. In the past seven days, the consensus estimate for earnings has witnessed upward revisions of 5%. The consensus mark for revenues is pegged at $4 ...

Core Insights - Papa John's has consistently beaten earnings estimates, with an average surprise of 17.56% over the last two quarters [1][2] - The company reported earnings of $0.61 per share for the most recent quarter, exceeding the expected $0.51, resulting in a surprise of 19.61% [2] - Recent estimates for Papa John's have been increasing, indicating a positive outlook for future earnings [3][6] Earnings Performance - For the previous quarter, Papa John's reported $0.67 per share against an expected $0.58, achieving a surprise of 15.52% [2] - The Zacks Earnings ESP for Papa John's is currently +3.41%, suggesting analysts are optimistic about its near-term earnings potential [6] Predictive Metrics - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [4] - The Most Accurate Estimate, part of the Earnings ESP, reflects the latest analyst revisions, which may be more accurate than earlier consensus estimates [5] Upcoming Events - Papa John's next earnings report is anticipated to be released on November 7, 2024 [6]

EDMONTON, Alberta, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Papa Johns is proud to announce the return of its popular Shaq-a-Roni pizza across Canada for its 5th consecutive year. Crafted in partnership with former basketball superstar and Papa Johns franchisee, Shaquille O'Neal, the Shaqa-Roni feeds a big appetite for big impact. For every Shaq-a-Roni sold between October 14th and December 29th, 2024, Papa Johns will donate $1 to Second Harvest. Second Harvest is Canada's largest food rescue organization. On a mi ...

Papa John's International, Inc. (PZZA) stock has disappointed investors this year, underperforming the industry and the S&P 500. The company's dismal performance was due to the challenging macroeconomic environment and decline in organic delivery. So far this year, PZZA stock has declined 38.4% compared with the industry's decrease of 2% and against the S&P 500 composite's growth of 13.3%. As of Friday, the stock closed at $46.93, significantly below its 52- week high of $78.74 but above the low of $39.90. ...

Core Insights - Papa John's International, Inc. (PZZA) is expected to benefit from digital initiatives, menu innovation, and unit expansion efforts, although it faces challenges from a difficult macro environment and soft comparable sales [1] Group 1: Strategic Efforts - Innovation is central to Papa John's strategy, with a focus on expanding differentiated menu offerings to enhance customer satisfaction and brand loyalty [2] - Investments in digital platforms are anticipated to improve conversion rates and repeat transactions, with recent app updates and loyalty program enhancements showing promising results [2] - The company is realigning its marketing and product offerings to appeal to value-conscious consumers, launching items like the $9.99 cheeseburger pizza and $10.99 extra-large New York-style pizza to improve value perception [3] Group 2: International Growth - Papa John's is optimizing operations internationally, particularly in the U.K., where it closed 43 underperforming restaurants and refranchised 60, aiming for profitability in the U.K. market by the second half of 2024 [4] - A global marketing campaign, 'Better Get You Some,' has started to yield positive results across various regional hubs [4] Group 3: Performance Challenges - Year-to-date, Papa John's shares have declined by 36.3%, contrasting with a 0.2% rise in the industry, primarily due to softer sales trends driven by macroeconomic pressures [5] - In Q2, total comparable sales fell by 2.7% year-over-year, with domestic company-owned restaurant comps down 4.2% compared to a 2.2% growth in the prior year [6] - The company anticipates ongoing economic challenges and weakening consumer confidence, adjusting its full-year guidance to reflect a cautious outlook for North America's comparable sales in 2024 [7] Group 4: Long-term Outlook - Despite near-term challenges, Papa John's is strategically positioning itself for long-term success through enhanced value perception, innovation, digital optimization, and improved international operations [8]

Papa John's International, Inc. (PZZA) recorded mixed second-quarter 2024 results, wherein its earnings beat the Zacks Consensus Estimate but revenues missed the same. The top declined but the bottom line increased on a year-over-year basis. Following the results, the company's shares rose 1.7% during trading hours on Aug 8. Earnings & Revenue Discussion In the fiscal second quarter, the company reported adjusted earnings per share (EPS) of 61 cents, which beat the Zacks Consensus Estimate of 51 cents. It r ...

Core Viewpoint - Papa John's reported mixed Q2 results with weak sales but improved profitability, leading to a slight positive market reaction despite the overall performance being below expectations [1][10] Financial Performance - Q2 revenues were $507.9 million, a decrease of 1.3% year-on-year, missing Wall Street estimates by $12.9 million [2] - Adjusted EPS was $0.61, beating the prior year's $0.59 and Wall Street estimates by $0.08, indicating effective cost management [2][5] - Adjusted operating income increased by $1.5 million to $38.4 million, despite the sales weakness [5] Comparable Sales - North American comparable store sales declined by 3.6%, with company-owned restaurants experiencing a 4.2% drop [4] - International comparable sales saw a slight decline of 0.1% [4] - The overall QSR industry showed mixed results, with competitors like Domino's and Yum! Brands reporting varying performance, highlighting the challenging market conditions [4] Operational Changes - The company closed 31 net units, primarily due to 43 planned closures in the UK as part of operational streamlining [3] - At the end of the quarter, Papa John's had 5,883 system-wide restaurants, supported by growth in international franchised locations [3] Future Outlook - The company is focusing on enhancing marketing efforts through the Back To Better 2.0 plan, which is expected to improve traffic and sales in the midterm [4][10] - A discounted cash flow model estimates the fair value of the stock at $62.75, indicating a potential upside of 42% from the current stock price [7] Valuation Metrics - The weighted average cost of capital (WACC) is estimated at 7.90%, down from 8.82%, reflecting improved cash flow estimates [8] - The EBIT margin is projected to remain at 8.8% post-implementation of the Back To Better 2.0 plan, with earlier margin improvements anticipated [6]

For the quarter ended June 2024, Papa John's (PZZA) reported revenue of $507.89 million, down 1.3% over the same period last year. EPS came in at $0.61, compared to $0.59 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $518.86 million, representing a surprise of -2.11%. The company delivered an EPS surprise of +19.61%, with the consensus EPS estimate being $0.51. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...