Papa John's (PZZA) Misses Q3 EPS by 1c, Revenues Beat
Papa John's (NASDAQ: PZZA) reported Q3 EPS of $0.21, $0.01 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $403.71 million versus the consensus estimate of $386.87 million.
Highlights
- Third quarter 2019 loss per diluted share of ($0.10) as compared to third quarter 2018 loss per diluted share of ($0.42)
- Excluding Special items, adjusted earnings per diluted share of $0.21 compared to $0.19 for the third quarter of 2018
- Third quarter system-wide North America comparable sales increase of 1.0%
- Third quarter international comparable sales increase of 1.6%; international franchise sales increase of 10.1%, excluding the impact of foreign currency
- Refranchised 44 restaurants in the third and fourth quarters
- 2019 outlook revised for comparable sales and net global unit development
Rob Lynch, President & CEO said, “We are very pleased to have positive comparable sales in North America for the first time in two years. I have spent a large part of my first two months meeting with our franchisees, team members, and other key stakeholders. We are all focused on the right things – reinforcing the quality of our food, improving our unit economics, and promoting a company culture that sets us up to win for years to come. While there is much work to do, we have put in place a clear strategic roadmap to align the interests of our customers, employees, franchisees, and shareholders. Our strategic priorities will guide our path to a brighter future.”
For earnings history and earnings-related data on Papa John's (PZZA) click here.