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Mar 27, 2022
Papa John's Q1 2022 Earnings Report
Papa John's reported positive comparable sales growth in North America and international, lapping the biggest quarter in company history; they also raised their 2022 outlook for restaurant growth.
Key Takeaways
Papa John's International, Inc. announced its financial results for the first quarter ended March 27, 2022. The company's total revenues increased by 6.0% to $542.7 million. Comparable sales were up by 1.9% in North America and 0.8% internationally. Diluted earnings per share were $0.29, and non-GAAP adjusted diluted earnings per share were $0.95.
Total company revenues increased 6.0% to $542.7 million.
Global system-wide restaurant sales of $1.3 billion, up 5.3% (excluding the impact of foreign currency)
Comparable sales up 1.9% in North America and 0.8% Internationally, lapping prior year gains of 26.2% and 23.2%, respectively
Earnings per diluted share of $0.29; excluding Special items, non-GAAP adjusted diluted earnings per share of $0.95, up from $0.91 a year ago
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company announced that it has raised its outlook for fiscal 2022 net restaurant growth to 280 to 320 units, from 260 to 300 units previously, reflecting strong unit openings in the first quarter and expected further acceleration for remainder of year. In addition, based on its robust development pipeline and accelerating development activity, Papa Johns is now providing a new multi-year target of 6% to 8% annual net unit growth worldwide for fiscal 2023 through 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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