Papa John’s Announces Fourth Quarter and Full Year 2020 Financial Results

About this update from Papa John's International, Inc.

[{"type":"text","content":" LOUISVILLE, Ky.--(BUSINESS WIRE)--\nPapa John’s International, Inc. (NASDAQ: PZZA) today announced financial results for the three months and full year ended December 27, 2020.\n\nFourth quarter highlights compared to prior year \n\n\nTotal revenues of $469.8 million, up 12.5% over 2019\n\n\nComparable sales up by 13.5% in North America and 21.4% Internationally \n\n\nEarnings per diluted share rose to $0.28 from loss per diluted share of ($0.18)\n\n\nAdjusted earnings per diluted share grew to $0.40 versus adjusted loss per diluted share of ($0.25), excluding Special items\n\n\n40 net unit openings in the fourth quarter driven by International\n\n\nPaid end-of-year bonuses to front-line team members of $2.7 million ($0.06 per diluted share)\n\n\nFull year 2020 highlights compared to prior year\n\n\nTotal revenues of $1,813.2 million, up 12.0% over 2019\n\n\nComparable sales up by 17.6% in North America and 12.6% Internationally \n\n\nEarnings per diluted share rose to $1.28 compared to loss per diluted share of ($0.24)\n\n\nAdjusted earnings per diluted share grew to $1.40 from adjusted earnings per diluted share of $0.03, excluding Special items\n\n\nCash flow from operations of $186.4 million and free cash flow of $137.1 million for full year 2020 \n\n\n“2020 was a transformational year for Papa John’s, as we turned our focus to the future. We were able to deliver industry-leading sales growth and significant profitability by coming together as a system to take care of our team members, customers and communities in one of the most challenging years in history,” said President & CEO Rob Lynch. “Q4 2020 was the third consecutive quarter of double-digit comparable sales growth and the sixth straight quarter of positive comparable sales in North America. We ended the year with the launch of Epic Stuffed Crust, the biggest product innovation in the company’s history, and our future is extremely bright.”\n\nMr. Lynch continued, “We are confident that the foundations of our business – our company’s core values, our iconic brand, our dedicated team members, our strong franchise system and our rapidly improving financial performance – are stronger than ever, and we continue to build momentum. We remain hopeful for a swift end to the global pandemic and continue to prioritize the health and safety of our team and customers, while we m...

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