1033 ET - Papa John's isn't interested in pursuing a sale, CEO Todd Penegor say on a call with analysts. "The board and the management team are committed to maximizing value for our shareholders and, consistent with that commitment, we conducted a comprehensive review of our strategy over the past 18 months," he says. The company explored strategic alternatives including a sale, but ultimately opted to stick with its current turnaround strategy. "We believe it is in the best interest of the company and all of our shareholders to focus 100% of our attention on Papa John's transformation," Penegor says. Shares tumble 15% after the company cuts its outlook and suspends its quarterly dividend.