Papa John's Q2 2024 saw a 1% decrease in total revenues to $508 million, driven by lower North America commissary revenues. North America comparable sales were down 4%. Operating income decreased by 19% to $28 million, while adjusted operating income increased by 4% to $38 million due to improved restaurant-level margins and cost discipline. Diluted EPS was $0.37, while adjusted diluted EPS was $0.61.
North America comparable sales decreased by 4% due to declines in both company-owned and franchised restaurants.
Global system-wide restaurant sales decreased by 1% to $1.20 billion, impacted by lower North America comparable sales.
Total revenues decreased by 1% to $508 million, primarily due to lower North America commissary revenues.
Operating income decreased by 19% to $28 million, while adjusted operating income increased by 4% to $38 million.
Papa John's is focused on creating great experiences for customers and team members, ensuring a strong restaurant economic model, evolving marketing to meet consumer value expectations, investing in digital experience, and enhancing the loyalty experience to drive consumer engagement.
Analyze how earnings announcements historically affect stock price performance