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Sep 25, 2022
Papa John's Q3 2022 Earnings Report
Papa John's financial results for the third quarter of 2022 were announced.
Key Takeaways
Papa John's International, Inc. reported a slight decrease in total revenues, with $511 million in Q3 2022 compared to $512.8 million in Q3 2021. North America comparable sales were down less than one percent, while international comparable sales decreased by 10%. Diluted earnings per share were $0.23, and non-GAAP adjusted diluted earnings per share were $0.54.
Total revenues were $511 million, a slight decrease from the record third quarter of 2021.
North America comparable sales were down less than one percent.
International comparable sales were down 10%.
Global system-wide restaurant sales increased by 0.5% over the prior year third quarter, reaching $1.20 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects some near-term headwinds to continue, particularly in the UK market, but they continue to build global excitement behind their brand, reinforcing their confidence in their multi-year development outlook.
Challenges Ahead
- The company expects some near-term headwinds to continue.
- There are challenges in the UK market.
- The third quarter is typically the slowest period for pizza delivery.
- The demand for travel was amplified coming out of the pandemic.
- Commodity and labor costs reached all-time highs, impacting profit.
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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