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Papa John's (PZZA) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended March 2024, Papa John's (PZZA - Free Report) reported revenue of $513.92 million, down 2.5% over the same period last year. EPS came in at $0.67, compared to $0.68 in the year-ago quarter.
The reported revenue represents a surprise of -5.52% over the Zacks Consensus Estimate of $543.94 million. With the consensus EPS estimate being $0.58, the EPS surprise was +15.52%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Papa John's performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable sales growth - System-wide North America restaurants: -1.8% versus 0.1% estimated by six analysts on average.
Comparable sales growth - North America franchised restaurants: -1.5% versus -0.5% estimated by six analysts on average.
Comparable sales growth - Domestic company-owned restaurants: -3% versus -1% estimated by six analysts on average.
Number of Restaurants - System-wide: 5,914 versus the six-analyst average estimate of 5,925.
Number of Restaurants - Franchised North America: 2,911 versus 2,912 estimated by six analysts on average.
Revenues- North America franchise royalties and fees: $35.70 million versus the six-analyst average estimate of $36.65 million. The reported number represents a year-over-year change of -1%.
Revenues- Domestic Company-owned restaurants: $176.22 million versus the six-analyst average estimate of $183.41 million. The reported number represents a year-over-year change of -2%.
Revenues- Other revenues: $58 million versus the six-analyst average estimate of $66.39 million. The reported number represents a year-over-year change of -13.5%.
Revenues- International revenues: $40.71 million versus the six-analyst average estimate of $45.50 million. The reported number represents a year-over-year change of +29.4%.
Revenues- North America commissary revenues: $203.29 million compared to the $213.38 million average estimate based on six analysts. The reported number represents a change of -4.4% year over year.
Revenues- International revenues- Commissary sales: $15.03 million versus $32.08 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -20.8% change.
Revenues- International revenues- Franchise royalties and fees: $11.46 million compared to the $14.74 million average estimate based on three analysts. The reported number represents a change of -8.3% year over year.
Shares of Papa John's have returned -9.6% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Papa John's (PZZA) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended March 2024, Papa John's (PZZA - Free Report) reported revenue of $513.92 million, down 2.5% over the same period last year. EPS came in at $0.67, compared to $0.68 in the year-ago quarter.
The reported revenue represents a surprise of -5.52% over the Zacks Consensus Estimate of $543.94 million. With the consensus EPS estimate being $0.58, the EPS surprise was +15.52%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Papa John's performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable sales growth - System-wide North America restaurants: -1.8% versus 0.1% estimated by six analysts on average.
- Comparable sales growth - North America franchised restaurants: -1.5% versus -0.5% estimated by six analysts on average.
- Comparable sales growth - Domestic company-owned restaurants: -3% versus -1% estimated by six analysts on average.
- Number of Restaurants - System-wide: 5,914 versus the six-analyst average estimate of 5,925.
- Number of Restaurants - Franchised North America: 2,911 versus 2,912 estimated by six analysts on average.
- Revenues- North America franchise royalties and fees: $35.70 million versus the six-analyst average estimate of $36.65 million. The reported number represents a year-over-year change of -1%.
- Revenues- Domestic Company-owned restaurants: $176.22 million versus the six-analyst average estimate of $183.41 million. The reported number represents a year-over-year change of -2%.
- Revenues- Other revenues: $58 million versus the six-analyst average estimate of $66.39 million. The reported number represents a year-over-year change of -13.5%.
- Revenues- International revenues: $40.71 million versus the six-analyst average estimate of $45.50 million. The reported number represents a year-over-year change of +29.4%.
- Revenues- North America commissary revenues: $203.29 million compared to the $213.38 million average estimate based on six analysts. The reported number represents a change of -4.4% year over year.
- Revenues- International revenues- Commissary sales: $15.03 million versus $32.08 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -20.8% change.
- Revenues- International revenues- Franchise royalties and fees: $11.46 million compared to the $14.74 million average estimate based on three analysts. The reported number represents a change of -8.3% year over year.
View all Key Company Metrics for Papa John's here>>>Shares of Papa John's have returned -9.6% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.