earnings
confidence high
sentiment negative
materiality 0.75
Papa John's Q3 adjusted EPS $0.54 vs $0.83; revenue $511M flat; comps mixed
PAPA JOHNS INTERNATIONAL INC
2022-Q3 EPS reported
$1.22
revenue$1,575,869,000
- Revenue of $511M, essentially flat vs record Q3 2021; net income $8.3M ($0.23 diluted EPS).
- Adjusted diluted EPS $0.54, down from $0.83 last year; adjusted operating income $33.6M vs $40.7M.
- North America comparable sales down <1% but up 30% on a 3-year stack; International down 10% (up 19% 3-year).
- Global system-wide sales $1.20B +0.5%; net 18 unit openings in Q3, mostly international.
- FY2022 net unit openings expected 240-260; management cites commodity/labor cost headwinds and solid Q4 start.