Papa John's 3Q Sales Slip Modestly While Profit Rises

Dow Jones

Nov 07, 2024

By Dean Seal

Papa John's International recorded a smaller sales decline than analysts had expected in the third quarter while its earnings were boosted by lower costs.

The pizza chain posted a profit of $41.8 million, or $1.27 a share, compared with $15.9 million, or 48 cents a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were 43 cents a share, in line with the consensus estimate of analysts polled by FactSet.

Revenue decreased 3.1% to $506.8 million, topping analyst forecasts for $497.3 million, according to FactSet.

The top line decline was attributed to lower international revenue from the refranchising and closure of company-owned restaurants overseas. Comparable sales were down about 6% in North America and 3% internationally.

Chief Executive Todd Penegor said the company delivered earnings that were in line with internal expectations despite "a very challenging consumer environment."

The bottom line included a gain from the sale of two quality control center properties as well as lower interest expenses. Total costs and expenses for the quarter were 10% lower year-over-year.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 07, 2024 07:28 ET (12:28 GMT)

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Total costs and expenses for the quarter were 10% lower year-over-year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 07, 2024 07:28 ET (12:28 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PZZA","symbol_name":"棒约翰","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481290575","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481290575","pubTimestamp":1730982480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Papa John's International recorded a smaller sales decline than analysts had expected in the third quarter while its earnings were boosted by lower costs.The pizza chain posted a profit of $41.8 million, or $1.27 a share, compared with $15.9 million, or 48 cents a share, in the same quarter a year ago.Stripping out one-time items, adjusted earnings were 43 cents a share, in line with the consensus estimate of analysts polled by FactSet.Revenue decreased 3.1% to $506.8 million, topping analyst forecasts for $497.3 million, according to FactSet.The top line decline was attributed to lower international revenue from the refranchising and closure of company-owned restaurants overseas. 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The bottom line included a gain from the sale of two quality control cen","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PZZA":"棒约翰"},"translate_title":"棒约翰第三季度销售额小幅下滑，利润增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PZZA":1},"content_text":"By Dean Seal \n\n\n \n\n\n  Papa John's International recorded a smaller sales decline than analysts had expected in the third quarter while its earnings were boosted by lower costs. \n\n\n  The pizza chain posted a profit of $41.8 million, or $1.27 a share, compared with $15.9 million, or 48 cents a share, in the same quarter a year ago. \n\n\n  Stripping out one-time items, adjusted earnings were 43 cents a share, in line with the consensus estimate of analysts polled by FactSet. \n\n\n  Revenue decreased 3.1% to $506.8 million, topping analyst forecasts for $497.3 million, according to FactSet. \n\n\n  The top line decline was attributed to lower international revenue from the refranchising and closure of company-owned restaurants overseas. 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