---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-015434"
form_type: "8-K"
ticker: "PZZA"
cik: "0000901491"
company_name: "PAPA JOHNS INTERNATIONAL INC"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:50:07.719685+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Papa John's Q1 adjusted EPS $0.68 down from $0.95; global sales up 2% to $1.24B

## Summary
- Adjusted diluted EPS $0.68 vs $0.95 prior year; GAAP EPS $0.65 vs $0.29 (prior year had $30.8M charges).
- Global system-wide sales $1.24B, up 2% (ex-FX); total revenues $527M, down 3% due to refranchising.
- North America comparable sales flat; Domestic company-owned comps up 3.4%; International comps down 5.8%.
- Repurchased 2.5M shares for $209.6M in Q1, including $179.6M from Starboard.
- Maintained dividend at $0.42/share; reaffirmed development target of 1,400-1,800 net new units 2022-2025.

## SEC filing metadata
- accession: 0001628280-23-015434
- form_type: 8-K
- ticker: PZZA
- cik: 0000901491
- company_name: PAPA JOHNS INTERNATIONAL INC
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/901491/000162828023015434/0001628280-23-015434-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/901491/000162828023015434/pzza-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-015434
- JSON: https://secwatch.observer/filing/0001628280-23-015434.json
- Plain text: https://secwatch.observer/filing/0001628280-23-015434.txt

## Key facts
- Earnings Releases
  PAPA JOHNS INTERNATIONAL INC reported first quarter ended March 26, 2023 results: revenue $527 million, net income $22,376, EPS $0.65.
  - Period: first quarter ended March 26, 2023
  - Revenue: $527 million
  - Net income: $22,376
  - EPS: $0.65
  - Result: reported results
  source text: to achieve 270 to 310 net new units in 2023. • Global system-wide restaurant sales were $1.24 billion, a 2% (a) increase from the prior year first quarter. • Total revenues of $527 million were down 3% from a record first quarter a year ago. Revenues were up slightly when excluding the impact of refranchising 90 restaurants in 2022. • Diluted earnings per common
  evidence_url: https://www.sec.gov/Archives/edgar/data/901491/000162828023015434/0001628280-23-015434-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.