Papa John's International, Inc. · NASDAQ:PZZA
Papa John's International — Q2 2026 Earnings Presentation
15 slides from Papa John's International's earnings presentation, Aug 6, 2026
Slide 1: Papa Johns Announces Second Quarter 2026 Financial Results
PAPA JOHNS ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS Updates Fiscal 2026 Outlook Global System-wide Restaurant Sales Decreased 4.8%(a) and Global Comparable Sales Decreased 5.7% North America Comparable Sales Decreased 8.3% and International Comparable Sales Increased 1.5% Diluted EPS of $0.24
Slide 2: Second Quarter 2026 Financial Highlights
Second Quarter 2026 Financial Highlights Three Months Ended Six Months Ended June 28, June 29, Increase June 28, June 29, Increase In thousands, except per share amounts 2026 2025 (Decrease) 2026 2025 (Decrease) Total revenues $ 482,397 $ 529,166 $ (46,769) $ 961,006 $1,047,475 $ (86,469) Net income
Slide 3: Adjusted EBITDA, EPS and Free Cash Flow
Adjusted EBITDA: Adjusted EBITDA(a) was $52.7 million, a $0.1 million increase from the prior year second quarter. The increase was primarily attributable to the aforementioned declines in cost of sales and G&A expenses and improved performance in our International markets, mostly offset by lower sa
Slide 4: Capital Allocation and Global Restaurant Sales Information
optimization to improve cost leverage and 4-wall EBITDA in restaurants; and investment to build on momentum in the International business. As the Company realizes the benefits from its transformation, the Board of Directors intends to revisit how to most effectively return capital to shareholders th
Slide 5: Global Restaurants and 2026 Outlook
Global Restaurants As of June 28, 2026, there were 5,978 Papa Johns restaurants operating in 51 countries and territories, as follows: Domestic Franchised Total International Company- North North Company- International Total System- Second Quarter owned America America owned Franchised International
Slide 6: Non-GAAP Forward-Looking Projections, Conference Call and About Papa Johns
This release includes forward-looking projections for certain non-GAAP financial measures, including adjusted EBITDA and adjusted depreciation and amortization. The Company excludes certain expenses and benefits from adjusted EBITDA and adjusted depreciation and amortization that, due to the uncerta
Slide 7: Forward-Looking Statements
Our forward-looking statements are based on our assumptions which are based on currently available information. Actual outcomes and results may differ materially from those matters expressed or implied in our forward-looking statements as a result of various factors, including but not limited to ris
Slide 8: Supplemental Information and Financial Statements: Definitions
Supplemental Information and Financial Statements Definitions “Comparable sales” represents sales for the same base of restaurants for the same fiscal periods. “Comparable sales growth (decline)” represents the change in year-over-year comparable sales. “Global system-wide restaurant sales” represen
Slide 9: Reconciliation of GAAP Financial Results to Non-GAAP Financial Measures
Reconciliation of GAAP Financial Results to Non-GAAP Financial Measures Three Months Ended Six Months Ended June 28, June 29, June 28, June 29, (In thousands, except per share amounts) 2026 2025 2026 2025 Net income $ 8,700 $ 9,671 $ 15,638 $ 19,014 Income tax expense 4,971 4,235 9,108 8,778 Net int
Slide 10: Condensed Consolidated Balance Sheets
Papa John’s International, Inc. and Subsidiaries Condensed Consolidated Balance Sheets June 28, December 28, In thousands, except per share amounts 2026 2025 (Unaudited) Assets Current assets: Cash, cash equivalents, and restricted cash $ 28,490 $ 36,950 Accounts receivable, net 94,512 103,068 Notes
Slide 11: Condensed Consolidated Statements of Operations
Papa John’s International, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended Six Months Ended June 28, June 29, June 28, June 29, In thousands, except per share amounts 2026 2025 2026 2025 Revenues: Company-owned restaurant sales $ 142,182 $ 178,989
Slide 12: Condensed Consolidated Statements of Cash Flows
Papa John’s International, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 28, June 29, In thousands 2026 2025 Operating activities Net income $ 15,638 $ 19,014 Adjustments to reconcile net income to net cash provided by operating activities: P
Slide 13: Segment Information
Papa John’s International, Inc. and Subsidiaries Segment Information The following tables present the operating results of our segments. We have four reportable segments: Domestic Company- owned restaurants, North America franchising, North America commissaries, and International. Under ASC 280, Seg
Slide 14: Six Months Ended June 28, 2026
Six Months Ended June 28, 2026 Domestic Company- Owned North America North America In thousands, unaudited Restaurants Franchising Commissaries International Revenues from external customers $ 278,607 $ 67,490 $ 415,621 $ 88,267 Intersegment revenues — 465 86,962 — Segment revenue $ 278,607 $ 67,955
Slide 15: Supplemental Information - All Other
Papa John’s International, Inc. and Subsidiaries Supplemental Information - All Other In thousands, unaudited Three Months Ended Six Months Ended June 28, June 29, June 28, June 29, All Other (a) 2026 2025 2026 2025 Revenues from external customers $ 54,363 $ 58,980 $ 111,021 $ 118,912 Intersegment
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