Papa John's Reports Mixed Q4 and Full Year 2024 Results
Generado por agente de IAMarcus Lee
jueves, 27 de febrero de 2025, 7:12 am ET1 min de lectura
PZZA--
Papa John's International, Inc. (Nasdaq: PZZA) reported its fourth quarter and full year 2024 financial results on February 27, 2025, showing mixed performance. The company's global system-wide restaurant sales for the fourth quarter were $1.23 billion, down 7.9% year-over-year (YoY), but excluding the additional week of operations in the prior year period, global system-wide sales were flat. For the full year 2024, Papa John's reported global system-wide sales of $4.85 billion, down 3% YoY, and total revenues of $2.06 billion, down 4% YoY.
The company's diluted EPS for the fourth quarter was $0.44, compared to $0.79 in the fourth quarter of 2023, and for the full year, diluted EPS was $2.54, compared to $2.48 in 2023. Papa John's CEO Todd Penegor commented on the results, "I am pleased with the early progress we are seeing in our transformation as we work to improve our value perception, simplify our operations, and enhance our digital and loyalty experiences. These efforts helped to deliver results consistent with our fourth quarter expectations."
Papa John's net new restaurant openings in the fourth quarter totaled 122, with 60 in North America and 62 in International markets. For the full year 2024, the company opened 124 net new restaurants, with 81 in North America and 43 in International markets. The company plans to open 85-115 gross new restaurants in North America and 180-200 internationally in 2025.
Looking ahead to 2025, Papa John's projects system-wide sales growth of 2-5%, with North America and International comparable sales expected to range from flat to up 2%. The company plans 85-115 gross openings in North America and 180-200 internationally.
In conclusion, Papa John's reported mixed financial results for the fourth quarter and full year 2024, with global system-wide restaurant sales and total revenues down YoY. However, the company's early progress in its transformation efforts and net new restaurant openings indicate a positive outlook for 2025. Papa John's remains focused on improving value perception, simplifying operations, and enhancing digital and loyalty experiences to drive sustainable growth.
Papa John's International, Inc. (Nasdaq: PZZA) reported its fourth quarter and full year 2024 financial results on February 27, 2025, showing mixed performance. The company's global system-wide restaurant sales for the fourth quarter were $1.23 billion, down 7.9% year-over-year (YoY), but excluding the additional week of operations in the prior year period, global system-wide sales were flat. For the full year 2024, Papa John's reported global system-wide sales of $4.85 billion, down 3% YoY, and total revenues of $2.06 billion, down 4% YoY.
The company's diluted EPS for the fourth quarter was $0.44, compared to $0.79 in the fourth quarter of 2023, and for the full year, diluted EPS was $2.54, compared to $2.48 in 2023. Papa John's CEO Todd Penegor commented on the results, "I am pleased with the early progress we are seeing in our transformation as we work to improve our value perception, simplify our operations, and enhance our digital and loyalty experiences. These efforts helped to deliver results consistent with our fourth quarter expectations."
Papa John's net new restaurant openings in the fourth quarter totaled 122, with 60 in North America and 62 in International markets. For the full year 2024, the company opened 124 net new restaurants, with 81 in North America and 43 in International markets. The company plans to open 85-115 gross new restaurants in North America and 180-200 internationally in 2025.
Looking ahead to 2025, Papa John's projects system-wide sales growth of 2-5%, with North America and International comparable sales expected to range from flat to up 2%. The company plans 85-115 gross openings in North America and 180-200 internationally.
In conclusion, Papa John's reported mixed financial results for the fourth quarter and full year 2024, with global system-wide restaurant sales and total revenues down YoY. However, the company's early progress in its transformation efforts and net new restaurant openings indicate a positive outlook for 2025. Papa John's remains focused on improving value perception, simplifying operations, and enhancing digital and loyalty experiences to drive sustainable growth.
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