Papa John’s International ( (PZZA) ) has released its Q3 earnings. Here is a breakdown of the information Papa John’s International presented to its investors.
Papa John’s International, Inc. is the third-largest pizza delivery company globally, specializing in high-quality pizza made with fresh ingredients and operates over 5,900 restaurants in approximately 50 countries and territories.
In its third-quarter 2024 financial results, Papa John’s reported a decline in sales but a significant increase in operating income due to strategic asset sales. Despite challenging market conditions, the company maintained its expansion plans with new restaurant openings.
The company’s total revenues fell by 3% compared to the previous year, largely due to decreased sales in both domestic and international markets. However, operating income more than doubled to $65 million, primarily driven by gains from the sale of properties. Meanwhile, adjusted operating income saw a slight decrease, and diluted earnings per share significantly improved to $1.27. Despite these mixed results, the company continues its global expansion with a net addition of 25 restaurants in the quarter.
Looking ahead, Papa John’s is focusing on enhancing its value perception and digital experience. The leadership team remains confident in returning to sustainable growth through innovation and improved customer experiences.
