3
Papa John’s International Inc (NASDAQ:PZZA) shares are trading higher in premarket on Thursday after the fourth-quarter FY24 earnings.
The company reported fourth-quarter FY24 sales growth of 7% year-on-year to $530.77 million, beating the analyst consensus estimate of $515.994 million.
The lower revenues were largely attributable to approximately $41 million in 2023 from the additional week of operations and a $17.8 million decrease in company-owned restaurant revenues.
Adjusted EPS of $0.63 topped the Street view of $0.50.
Total comparable sales dropped 2.8% versus a growth of 0.1% last year. Comparable sales declined 4% in North America and improved 2% Internationally.
Total global system-wide restaurant sales decreased 7.9%.
The operating …
