Papa John's Int'l Shares Up 13% As Q1 Revenues Top Estimates

Papa John`s International

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(RTTNews) - Papa John's International, Inc. (PZZA) reported Thursday that profit for the first quarter tumbled from last year as higher revenues were more than offset by higher general and administrative expenses. Adjusted earnings per share missed analysts' expectations, while quarterly revenues topped it to send the company's shares soaring 13 percent.

For the first quarter, the company reported net income attributable to common shareholders of $9.03 million or $0.27 per share, down from $14.64 million or $0.44 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $0.36 per share, compared to $0.67 per share in the year-ago quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew 0.9 percent to $518.31 million from $513.92 million in the same quarter last year as higher Commissary and Advertising Funds revenues were partially offset by lower revenues at Company-owned restaurants. Analysts expected revenues of $511.68 billion for the quarter.

The company said results for the first three months of 2025 are not directly comparable with the first three months of 2024, as year-over-year comparisons are impacted by the UK restaurant closures and refranchising transactions that occurred in the second and third quarters of 2024.

Global system-wide restaurant sales were up 0.6 percent to $1.22 billion from last year, as higher International comparable sales and trailing twelve-month net restaurant growth were partially offset by lower North American comparable sales.

North America comparable sales were down 3 percent as Domestic Company-owned restaurants were down 4.6 percent and North America franchised restaurants were down 2.3 percent, while International comparable sales were up 3.2 percent.

During the quarter, the company opened 47 new restaurants systemwide, comprised of 18 restaurant openings in North America and 29 restaurant openings in International markets.

Looking ahead to fiscal 2025, the company continues to project system-wide sales growth of 2 to 5 percent, with North America comparable sales of flat to up 2 percent and International comparable sales of flat to up 2 percent.

On May 1, 2025, the company's Board of Directors declared a second quarter dividend of $0.46 per common share, payable on May 30, 2025 to stockholders of record as of the close of business on May 19, 2025.

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