---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-021941"
form_type: "8-K"
ticker: "PZZA"
cik: "0000901491"
company_name: "PAPA JOHNS INTERNATIONAL INC"
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T08:09:31.755236+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Papa John's Q1 revenue down 2%; comparable sales negative; adjusted op income up 10%

## Summary
- Total revenues $514M (-2% YoY); GAAP diluted EPS $0.44 (prior $0.65); adjusted EPS $0.67 (vs $0.68).
- North America comparable sales -2% (company-owned -3%, franchised -2%); International comparable -3%.
- Operating income $34M (-11%); adjusted operating income $43M (+10%) on better restaurant-level margins.
- Global system-wide sales $1.23B (-1% ex-FX); 8 net unit openings; on track for NA net unit growth >20% vs FY23.
- Interim CEO cites progress on Back to Better 2.0 and International Transformation; Board conducting CEO search.

## SEC filing metadata
- accession: 0001628280-24-021941
- form_type: 8-K
- ticker: PZZA
- cik: 0000901491
- company_name: PAPA JOHNS INTERNATIONAL INC
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/901491/000162828024021941/0001628280-24-021941-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/901491/000162828024021941/pzza-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-021941
- JSON: https://secwatch.observer/filing/0001628280-24-021941.json
- Plain text: https://secwatch.observer/filing/0001628280-24-021941.txt

## Key facts
- Earnings Releases
  PAPA JOHNS INTERNATIONAL INC reported first quarter ended March 31, 2024 results: revenue $514 million, EPS $0.44.
  - Period: first quarter ended March 31, 2024
  - Revenue: $514 million
  - EPS: $0.44
  - Result: reported results
  source text: Highlights • North America comparable sales (a) were down 2% from a year ago as Domestic Company-owned restaurants were down 3% and North America franchised restaurants were down 2%; International comparable sales (a) were down 3% from the prior year period. • 8 net unit openings in the first quarter driven by North America growth; on track to achieve North America net unit growth of more than 20% relative to 2023 net unit openings and International gross openings between 100 and 140 new restaurants. • Global system-wide restaurant sales were $1.23 billion, a 1% (b) decrease compared with the prior year first quarter due entirely to the 53rd week in 2023 which shifted the week between Christmas and New Years into the fourth quarter. • Total revenues of $514 million were down 2% compared with a year ago largely driven by lower revenues in our North America commissary segment due to commodity price declines. • Operating income of $34 million decreased 11% compared with the first quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/901491/000162828024021941/0001628280-24-021941-index.htm

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