Papa John's (PZZA) reported $571.32 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 8.6%. EPS of $0.91 for the same period compares to $0.71 a year ago.The reported revenue represents a surprise of -1.31% over the Zacks Consensus Estimate of $578.92 million. With the consensus EPS estimate being $0.73, the EPS surprise was +24.66%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...

Papa John's (PZZA) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 24.66%. A quarter ago, it was expected that this pizza chain would post earnings of $0.56 per share when it actually produced earnings of $0.53, delivering a surprise of -5.36%.Over the last four quarters, the company ...

Financial Performance - In 2023, the 512 Domestic Company-owned restaurants generated average annual unit sales of $1.4 million, while the 2,519 North American franchised restaurants generated average annual unit sales of $1.2 million[25][27]. - As of December 31, 2023, there were 5,906 Papa John's restaurants operating globally, with 3,433 in North America and 2,473 internationally[32]. - As of December 31, 2023, net loans outstanding to franchisees totaled $17.5 million, primarily for restaurant purchases and development[42]. - Inflationary pressures have affected profitability, with price increases in food items and other commodities, labor, and fuel costs during 2022, which are expected to moderate in 2024[293]. Business Strategy - The company plans to increase the fixed operating margin charged by Domestic commissaries starting in 2024, while also offering new incentive-based rebates for franchisees[17]. - The company introduced a new development incentive for U.S. franchisees aimed at accelerating unit growth in 2024 and 2025, which includes a reduction in marketing fund contributions[23]. - The company is focused on international expansion, believing that demand for pizza delivery will continue to increase in international markets[59]. - The franchised model allows for resiliency of earnings and growth with less capital investment compared to traditional company-operated restaurants[22]. Technology and Operations - Approximately 85% of Domestic sales are conducted through digital channels, highlighting the company's investment in technology and data science to enhance customer experience[18]. - The company has established International regional hubs and increased technology investments as part of its International Transformation initiative[21]. - The company operates 11 QC Centers in the U.S. that produce dough and distribute key ingredients to ensure consistent food quality across its restaurants[61]. Workforce and Diversity - The company employs approximately 13,200 persons, with around 10,600 working at Company-owned restaurants[47]. - As of December 31, 2023, the total number of persons in the Papa John's system, including team members and franchisees, was approximately 107,000[48]. - The company has received several recognitions in 2023 for its diversity, equity, and inclusion efforts, including being named one of the Best Employers for Diversity by Forbes[49]. - The company aims to diversify its workforce and leadership pipeline by implementing initiatives such as unconscious bias training and annual DEI training for all team members[50]. - The company offers a Dough & Degrees program that allows team members to earn a college degree for free or at a reduced tuition, supporting their career advancement[53]. Market Environment - The U.S. Quick Service Restaurant pizza industry is highly competitive, with challenges from both large national chains and local independent operators[58]. - The company is subject to various federal, state, and local regulations affecting its operations, including health and safety regulations[62]. Risk Management - The company discusses various risk factors in detail in "Part I. Item 1A. — Risk Factors" of the Annual Report on Form 10-K[298]. - The company may update these risk factors in future reports filed with the Securities and Exchange Commission[298]. - There is no obligation for the company to publicly update any forward-looking statements unless required by law[298].

ATLANTA--(BUSINESS WIRE)--On February 22, 2024, Shaquille O’Neal informed the Board of Directors (the “Board”) of Papa John’s International, Inc. (NASDAQ: PZZA) (“Papa Johns” or “Company”) of his decision not to stand for re-election as a director at the Company’s 2024 annual meeting of stockholders. His current term expires at the annual meeting on May 2, 2024. “ Shaquille joined the Board five years ago during a challenging time for the Company, providing an important vote of confidence in its future pot ...

Papa John's International, Inc. (PZZA) is scheduled to report fourth-quarter 2023 results on Feb 29, before the opening bell. In the last reported quarter, its earnings missed the Zacks Consensus Estimate by 5.4%.Q4 EstimatesThe Zacks Consensus Estimate for earnings is pegged at 73 cents per share, suggesting growth of 2.8% from the prior-year quarter. Over the past 30 days, earnings estimates have remained stable. The consensus mark for revenues is pegged at $578.9 million, suggesting growth of 10% from th ...

EDMONTON, Alberta, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Papa Johns Canada announced the company has raised $55,286 through the sales of its Shaq-a-Roni pizza for Canada's largest food rescue organization, Second Harvest. "The Papa Johns franchise owners look forward to the Shaq-a-Roni fundraising campaign every year. It's the perfect blend of an amazing pizza raising money for a wonderful charity partner," said Michael Prentice, Papa Johns Franchise Business Partner. "Our 200+ local store owners are always eng ...

Papa John's International, Inc. (PZZA) provided an update on its business for the fourth quarter and financial year 2023. The company stated that the results are preliminary and subject to the completion of normal year-end accounting procedures and adjustments. The company expects to release its fourth-quarter 2023 results on Feb 29, 2024.Preliminary Sales UpdateIn the fourth quarter ending Dec 31, 2023, global system-wide sales totaled nearly $1.3 billion, reflecting a 12% increase year over year. Excludin ...

LOUISVILLE, Ky.--(BUSINESS WIRE)--Papa John’s International, Inc. (NASDAQ: PZZA) (“Papa Johns®”) today provided updates on long-term strategic initiatives designed to drive North America development, accelerate comparable sales growth and restaurant-level profitability in North America, as well as International profitability and long-term development. The Company also reported preliminary sales and unit development information for the fourth quarter and the full year ended December 31, 2023. “It is our a ...

Papa John’s International, Inc. (PZZA) will likely benefit from digital initiatives, menu innovation and unit-expansion efforts. This and the emphasis on the strengthening of its franchise network bode well. However, the challenging macro environment and inflationary pressures are headwinds.Let’s discuss why investors should retain the stock for the time being.Factors Driving GrowthPapa John’s is making substantial investments in technology-focused strategies, mainly digital ordering, to drive sales. Their ...

EDMONTON, Alberta, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Papa Johns is excited to kick off the new year by bringing Canadians one of its best deals yet. Created exclusively for Canada, pizza fans can now score a medium one topping pizza for only six dollars when they order any large Specialty Pizza at regular menu price from Papa Johns. Packed with exclusive flavour combinations, the Specialty Pizza lineup houses some of the most-loved pizzas across Canada: The Works, The Meats, Super Hawaiian, Garden Fresh, an ...