Papa John’s International ( (PZZA) ) has released its Q4 earnings. Here is a breakdown of the information Papa John’s International presented to its investors.
Papa John’s International, Inc., a leading global pizza delivery company, operates over 6,000 restaurants across 51 countries, emphasizing high-quality ingredients and innovative menu options. In its latest financial report, the company revealed a mixed performance for the fourth quarter and full year of 2024. While international sales saw a slight increase, North American sales declined by 4%, contributing to an overall 8% decrease in global system-wide restaurant sales for the quarter. The company opened 122 new restaurants in the fourth quarter, demonstrating continued expansion efforts. Key financial metrics showed a decrease in total revenues by 7% for the quarter, with diluted earnings per share dropping to $0.44 from $0.79 in the previous year. For the full year, global system-wide sales fell by 3%, and adjusted diluted earnings per share decreased to $2.34 from $2.71 in 2023. Despite these challenges, operating income saw a slight increase due to strategic sales of properties and improved margins in certain segments. Looking ahead, Papa John’s management remains optimistic, focusing on enhancing customer experiences and expanding its restaurant footprint. The company has set a growth target of 2% to 5% in system-wide sales for 2025, with plans for significant restaurant development both domestically and internationally.