Business
Papa Johns Announces First Quarter 2025 Financial Results
LOUISVILLE, Ky.--(BUSINESS WIRE)-- Papa John’s International, Inc. (Nasdaq: PZZA) (“Papa Johns®”) (the “Company”) today announced financial results for the
About this update from Papa John's International, Inc.
[{"type":"text","content":" LOUISVILLE, Ky.--(BUSINESS WIRE)--\nPapa John’s International, Inc. (Nasdaq: PZZA) (“Papa Johns®”) (the “Company”) today announced financial results for the first quarter ended March 30, 2025.\n\nHighlights\n\n\nNorth America comparable sales were down 3% from a year ago as Domestic Company-owned restaurants were down 5% and North America franchised restaurants were down 2%; International comparable sales were up 3% compared with the prior year quarter.\n\n\nOpened 47 new restaurants systemwide, comprised of 18 restaurant openings in North America and 29 restaurant openings in International markets.\n\n\nGlobal system-wide restaurant sales were $1.22 billion, a 1%(a) increase compared with the prior year first quarter, as higher International comparable sales and trailing twelve-month net restaurant growth were partially offset by lower North American comparable sales.\n\n\nTotal revenues of $518 million were up 1% compared with the prior year quarter as higher Commissary and Advertising Funds revenues were partially offset by lower revenues at our Company-owned restaurants.\n\n\nNet income was $9 million compared with $15 million in the prior year first quarter and adjusted EBITDA(b) was $50 million compared with $61 million in the prior year quarter.\n\n\nDiluted earnings per common share was $0.27 compared with $0.44 in the prior year quarter; adjusted diluted earnings per common share(b) was $0.36 compared with $0.67 last year.\n\n\nCEO Commentary\n\n“We are pleased with our continued progress in the first quarter to advance our transformation as we execute against our five key priorities. Our strategic investments in marketing and technology are driving early momentum in the business, and customers are responding positively to our strengthened value proposition and enhanced digital and loyalty experiences, as evidenced by sequential improvement in comparable sales and transactions,” said Todd Penegor, President and CEO.\n\n“First quarter results were in line with our expectations, and we are confident we have the right team and strategy to grow restaurant sales, generate sustainable profits throughout the system, and build long-term value for all of our stakeholders,” Penegor added.\n\n\n\n(a) Growth rate excludes the impact of foreign currency.\n\n\n\n\n\n(b) Represents a Non-GAAP financial measure. See “Non-GAAP Financia...