Business
Papa John’s Announces Fourth Quarter and Full Year 2021 Financial Results
LOUISVILLE, Ky.--(BUSINESS WIRE)-- Papa John’s International, Inc. (Nasdaq: PZZA) today announced financial results for the three months and full year ended
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 26, 2021.\n\nFourth quarter 2021 highlights compared to prior year fourth quarter\n\n\nTotal company revenues of $528.9 million, up 12.6% over 2020\n\n\nComparable sales up 11.1% in North America and 2.4% Internationally; Global system-wide restaurant sales of $1.2 billion, up 13.1% from 2020 (excluding the impact of foreign currency)\n\n\nEarnings per diluted share grew 139% to $0.67; Adjusted earnings per diluted share grew 88% to $0.75\n\n\nRepurchased $52 million of common stock during the fourth quarter, completing the previous $75 million share repurchase authorization\n\n\nFull year 2021 highlights compared to prior year\n\n\nTotal company revenues of $2.1 billion, up 14.1% over 2020\n\n\nComparable sales up by 11.8% in North America and 13.0% Internationally; Global system-wide restaurant sales of $4.8 billion, up 15.4% from 2020 (excluding the impact of foreign currency)\n\n\n250 net unit openings driven by continued domestic and international growth\n\n\nEarnings per diluted share of $0.12, including Special items of $3.39 per share, largely related to repurchase and conversion of Series B Convertible Preferred Stock\n\n\nAdjusted earnings per diluted share grew to $3.51 from $1.40 in 2020\n\n\nCash flow from operations of $184.7 million and free cash flow of $109.7 million for full year 2021\n\n\n“In 2021 Papa Johns achieved strong comparable sales growth and industry outperformance for a second consecutive year, driving 15% system-wide sales gains and demonstrating our ability to sustain growth, even during one of the most uncertain and difficult business environments we have ever seen,” said President & CEO Rob Lynch. “On a two-year basis, comparable sales rose 29% in North America and 26% internationally last quarter, as our innovation culture continued to deliver high-value, premium products that customers love, such as Epic Stuffed Crust and New York Style pizza. With North America average annual unit sales exceeding $1.1 million and 2021 adjusted EPS of $3.51, a company record, I’m proud to say that we also delivered great value to our franchisees and shareholders.”\n\nMr. Lynch continued, “While the current labor and commodity environment present...