News

Papa John's revises upward after Q2 financials reported

August 3, 2016

Papa John's International Inc. today announced financial results for the three- and six-month periods that ended June 26. Highlights from the quarter include:

• Earnings per diluted share rose nearly 30 percent over the same period last year to 61 cents, excluding the impact of a legal settlement in the previous year. 
• System-wide comparable sales increased nearly 5 percent in North America and slightly more than 5 percent internationally. 
• Guidance on 2016 diluted earnings per share increased about a nickel to $2.35 to $2.45 from $2.30 to $2.40.
• Guidance on 2016 North America comparable sales increased to 3 to 5 percent from 2 to 4 percent. 
• Regular dividend increased a dime from 70 to 80 cents annually. 

 "We are pleased with our strong second-quarter results, with good comp sales leading to another quarter of excellent earnings growth," said Papa John's founder, chairman and CEO, John Schnatter. "Our strong digital platform, unwavering commitment to quality, and consistent, disciplined approach to growing our global footprint have us well-positioned to maintain our momentum throughout 2016 and well into the future."

Second quarter 2016 revenues grew 6 percent from the same period last year to $423 million. Second quarter 2016 net income also grew from $10.8 million last year to $22.5 million this year. Net income grew, as well, more than 20 percent for the second quarter of 2016, compared to the same period last year.

Second quarter diluted earnings per share grew from 27 cents for the same period last year to 61 cents this year. 

Revenues for the first half of this year grew 2.4 percent to $851.6 million. Net income was also up for the first half of this year by nearly 19 percent. Diluted earnings per share rose to $1.29 for the first half of 2016, compared with 82 cents per share for the same period last year.