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Dec 29, 2019
Papa John's Q4 2019 Earnings Report
Papa John's announced Q4 2019 results, showing positive comparable sales and progress in its turnaround strategy.
Key Takeaways
Papa John's International, Inc. reported a Q4 2019 revenue increase of 5.0% compared to Q4 2018, with a loss per diluted share of ($0.18) and adjusted earnings per diluted share of $0.37. System-wide North America comparable sales increased by 3.5%, and international comparable sales increased by 2.4%. The company reported 52 net unit openings during the quarter.
Fourth quarter 2019 adjusted EPS was $0.37, up from $0.18 in the fourth quarter 2018.
System-wide North America comparable sales increased 3.5% in the fourth quarter.
International comparable sales increased 2.4% for the fourth quarter.
The company saw 52 net unit openings in the fourth quarter, driven by international expansion.
Papa John's
Papa John's
Papa John's Revenue by Segment
Papa John's Revenue by Geographic Location
Revenue by Segment
Domestic Company-owned Restaurants Revenue
CapyFin.comNorth America Franchising Revenue
CapyFin.comNorth America Commissaries Revenue
CapyFin.comInternational Revenue
CapyFin.comAll Other Segments Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
Papa John's provided its key operating assumptions and financial outlook for 2020.
Positive Outlook
- GAAP EPS of $0.60 to $0.90 for the full-year
- Adjusted EPS of $1.35 to $1.55, excluding Special charges that are anticipated for 2020
- North America comparable sales of 2.5% to 5.0%
- International comparable sales of 1.5% to 4.0%
- Net global new unit growth of 100 to 140 net units
Challenges Ahead
- Income tax rate of 20% to 23%
- Block cheese prices are projected to be in the low to mid $1.80
- Capital expenditures of $40 million - $50 million
- Special charges include the costs associated with the previously announced program to provide assistance to the North America franchise system
- Franchise royalty relief and National Marketing Fund investments, both of which are expected to end in the third quarter of 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income