The earnings call presented a mixed outlook with positive developments in international markets, carryout transactions, and cost reductions in restaurant development offset by declines in global sales, operating income, and pressures from higher commodity costs. The company is actively working on strategies to improve value perception and consumer engagement.

Company Guidance

During Papa John's third quarter earnings call for 2024, the executives discussed several key metrics and strategic initiatives aimed at improving the company's performance. Global system-wide restaurant sales were around $1.2 billion, representing a 3% decline in constant currency, with North America comparable sales down 6%. The company's total revenue for the quarter was $507 million, also down 3% from the previous year. Adjusted operating income was reported at $29 million, a decrease of $4 million compared to the same quarter last year, while domestic company-owned restaurant segment margins declined by about 360 basis points. The executives also narrowed their 2024 North America comparable sales guidance to a range of down 3.5% to 4.5% and projected full-year adjusted operating income between $135 million and $150 million. Despite these challenges, the company highlighted its strategic focus on improving technology, enhancing customer engagement through its loyalty program, and optimizing its menu to drive future growth.

Positive Carryout Transaction Trends

Carryout transactions turned positive in September, continuing into October, indicating improving customer engagement.

International Growth in Key Markets

High single-digit or low double-digit growth in top Latin American markets and mid-single-digit growth in Korea, highlighting strong international performance in prioritized regions.

Successful Cost Reduction in Restaurant Development

Average build cost of new company-owned restaurant openings reduced to approximately $500,000, improving franchisee value proposition.

Record Halloween Sales

Achieved the highest day of sales ever on Halloween, demonstrating strong performance on peak trading days.

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Papa John's International (PZZA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PZZA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 07, 2018	2018 (Q2)	- / 0.49	0.65	-24.62% (-0.16)	―	―
Nov 06, 2018	2018 (Q3)	- / 0.20	0.6	-66.67% (-0.40)	―	―
Feb 26, 2019	2018 (Q4)	- / 0.15	0.65	-76.92% (-0.50)	―	―
May 07, 2019	2019 (Q1)	- / 0.31	0.5	-38.00% (-0.19)	―	―
Aug 06, 2019	2019 (Q2)	- / 0.28	0.49	-42.86% (-0.21)	―	―
Nov 06, 2019	2019 (Q3)	- / 0.21	0.2	5.00% (<+0.01)	―	―
Feb 26, 2020	2019 (Q4)	- / 0.37	0.15	146.67% (+0.22)	―	―
May 06, 2020	2020 (Q1)	- / 0.15	0.31	-51.61% (-0.16)	―	―
Aug 06, 2020	2020 (Q2)	- / 0.48	0.28	71.43% (+0.20)	―	―
Nov 05, 2020	2020 (Q3)	- / 0.35	0.21	66.67% (+0.14)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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PZZA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$57.64	$54.99	-4.60%
Aug 08, 2024	$41.66	$42.38	+1.73%
May 09, 2024	$55.52	$51.72	-6.84%
Feb 29, 2024	$68.17	$69.86	+2.48%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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