Papa John's (PZZA) Misses Q1 Earnings Estimates, North American Comps Down 5.3%
Papa John's PZZA just released its first quarter financial results, posting adjusted earnings of $0.50 per share and revenues of $427.36 million.
Papa John's is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of Papa John's are down 26% over the last year and 4.4% over the last four weeks. The company also saw its stock price sink 0.66% on Tuesday to hit $58.73 per share prior to the release of its quarterly earnings results.
Investors should also remember that Yum Brands’ YUM Pizza Hut recently became the official pizza sponsor of the NFL—a gig that Papa John’s once pointed to as a huge reason for the company’s growth and success—as Papa John’s tries to reinvent its brand.
Papa John's stock is currently down 3.29% to $56.80 in after-hours trading shortly after its earnings report was released.
PZZA:
Missed earnings estimates. The company posted adjusted earnings of $0.50 per share, falling short of the Zacks Consensus Estimate of $0.62 per share.
Missed revenue estimates. The company saw revenue figures of $427.36 million, missing our consensus estimate of $438.11 million.
Papa John's saw its quarterly revenues sink roughly 5% from $449.27 million in the year-ago period. The company’s North American comparable sales dipped 5.3%. Meanwhile, the pizza chain’s bottom line fell around 35% from $0.77 per share.
"Although first quarter results were lower than the prior year, they were consistent with our expectations,” Steve Ritchie said in a statement. “We remain focused on enhancing our value perception and driving our strategic initiatives."
Here’s a graph that looks at PZZA’s Price, Consensus and EPS Surprise history:
Papa John's International, Inc. Price, Consensus and EPS Surprise
Papa John's International, Inc. Price, Consensus and EPS Surprise | Papa John's International, Inc. Quote
Check back later for our full analysis on PZZA’s earnings report!
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