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Dec 29, 2024
Papa John's Q4 2024 Earnings Report
Papa John's reported a decrease in revenue and earnings per share for Q4 2024, impacted by the additional week in 2023 and strategic reinvestments.
Key Takeaways
Papa John's Q4 2024 results showed a decrease in North America comparable sales, with a 4% decline driven by both company-owned and franchised restaurants. International comparable sales increased by 2%. Total revenues were $531 million, a 7% decrease compared to the previous year, and diluted earnings per share were $0.44, down from $0.79 in Q4 2023.
North America comparable sales decreased by 4%, with Domestic Company-owned restaurants down 6% and North America franchised restaurants down 4%.
International comparable sales increased by 2% compared to the prior year period.
Global system-wide restaurant sales were $1.23 billion, an 8% decrease from a year ago, but flat excluding the additional week of operations in Q4 2023.
Total revenues were $531 million, a 7% decrease compared to Q4 2023, but roughly flat excluding the 53rd week in 2023.
Forward Guidance
The Company is introducing 2025 annual guidance around system-wide sales, North America and International comparable sales, Restaurant development, Adjusted EBITDA, Depreciation & amortization, Interest expense, Capital expenditures and tax rate.
Positive Outlook
- System-wide sales: 2% to 5%
- North America comparable sales: Flat to up 2%
- International comparable sales: Flat to up 2%
- Restaurant development North America: 85 to 115 gross openings
- Restaurant development International: 180 to 200 gross openings
Challenges Ahead
- Adjusted EBITDA: $200 million to $220 million
- Depreciation & amortization: $70 million to $75 million
- Interest expense: $40 million to $45 million
- Capital expenditures: $75 million to $85 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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