Papa John's (NASDAQ: PZZA) reported Q1 EPS of $0.90, $0.34 better than the analyst estimate of $0.56. Revenue for the quarter came in at $511.7 million versus the consensus estimate of $467.71 million.

First quarter 2021 highlights compared to first quarter 2020

• Total revenues increased 24.9% to $511.7 million
• Comparable sales up 26.2% in North America and 23.2% Internationally driven by menu innovation, including the new Epic Stuffed Crust pizza in North America, and expanding customer base
• Earnings per diluted share rose to $0.82 from $0.15; Adjusted earnings per diluted share grew to $0.90 from $0.15
• Cash flow from operations of $63.2 million; free cash flow of $52.7 million
• 68 net unit openings in the first quarter driven by International growth; now in 50 countries and territories with first new units in Germany and Cambodia

“Papa John’s started 2021 strongly, delivering our sixth straight quarter of industry outperformance and fourth of double-digit global sales growth. In addition, our unit growth accelerated, and we achieved 600 basis points of operating margin expansion, growing adjusted earnings per share 500%,” said President & CEO Rob Lynch. “This momentum is a result of the hard work of our team members and the strength of our franchise system, who together have delivered sustainable business growth over the past seven quarters, reversing the prior six quarters of global restaurant sales declines.”

Mr. Lynch continued, “The strategy we put in place more than 18 months ago – focused on innovation, development, operational improvements, and building a culture that values diversity, inclusivity and winning – has provided the strong foundation that underscores Papa John’s industry outperformance and positive long-term outlook.”

For earnings history and earnings-related data on Papa John's (PZZA) click here.