Papa John's International, Inc. (NASDAQ:PZZA) Q3 2024 Earnings Conference Call November 7, 2024 8:00 AM ET Company Participants Stacy Frole - Vice President, Investor Relations Todd Penegor - President and Chief Executive Officer Ravi Thanawala - Chief Financial Officer and Executive Vice President, International Conference Call Participants Eric Gonzalez - KeyBanc Capital Markets Brian Bittner - Oppenheimer Andrew Strelzik - BMO Capital Markets Chris O'Coll - Stifel Financial Group Sarah Senatori - Bank of ...

Papa John’s International, Inc. (PZZA) recorded better-than-expected third-quarter fiscal 2024 results, wherein adjusted earnings and revenues topped the Zacks Consensus Estimate. However, the metrics declined on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The year-over-year performance decline was attributable to a decrease in International revenues due to the adverse impact of the U.K. company-owned restaurants and a decrease in Domestic company-owned re ...

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]

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 ...

Logo.jpg Title of eachclass: Trading Symbol Name of eachexchange onwhichregistered: Common stock, $0.01 par value PZZA The NASDAQ Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 29, 2024 OR o Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-21660 PAPA J ...

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]

Shares of Papa John's International Inc. (NASDAQ: PZZA ) have been a bigger disappointment for investors than a box of leftover slices sitting in the fridge from last week. The stock is down more than 60% from its alltime Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (ot ...

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 ...