Papa John's (PZZA) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - Papa John's reported revenue of $506.81 million for the quarter ended September 2024, a decrease of 3.1% year-over-year, with EPS at $0.43 compared to $0.53 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $491.77 million by 3.06%, while the EPS also surpassed the consensus estimate of $0.42 by 2.38% [1] Financial Performance Metrics - The number of company-owned restaurants in the U.S. was 537, slightly below the average estimate of 539 [3] - Total restaurants in North America stood at 3,454, just shy of the 3,455 estimate [3] - Comparable sales growth for North America franchised restaurants was -5.3%, better than the -5.7% estimate [3] - Comparable sales growth for domestic company-owned restaurants was -6.7%, compared to the -6.8% estimate [3] - System-wide restaurants totaled 5,908, exceeding the estimate of 5,899 [3] - Franchised North America restaurants numbered 2,917, matching the estimate [3] - International restaurants totaled 2,454, surpassing the estimate of 2,444 [3] Revenue Breakdown - North America franchise royalties and fees generated $33.02 million, below the estimate of $33.63 million, reflecting a year-over-year decline of 5.8% [3] - International revenues were $33.02 million, slightly below the estimate of $33.18 million, with a significant year-over-year decline of 23.1% [3] - Other revenues reached $60.89 million, exceeding the estimate of $58.92 million, but showing a 3% decline year-over-year [3] - North America commissary revenues were $210.39 million, above the estimate of $195.51 million, marking a year-over-year increase of 2.7% [3] - Domestic company-owned restaurant revenues were $168.67 million, below the estimate of $169.51 million, reflecting a 4.8% decline year-over-year [3] Stock Performance - Papa John's shares have returned +20.7% over the past month, outperforming the Zacks S&P 500 composite's +3.2% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]