Papa John's (PZZA - Free Report) just released its first quarter financial results, posting adjusted earnings of $0.50 per share and revenues of $427.36 million.
Papa John's is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of Papa John's are down 26% over the last year and 4.4% over the last four weeks. The company also saw its stock price sink 0.66% on Tuesday to hit $58.73 per share prior to the release of its quarterly earnings results.
Investors should also remember that Yum Brands’ (YUM - Free Report) Pizza Hut recently became the official pizza sponsor of the NFL—a gig that Papa John’s once pointed to as a huge reason for the company’s growth and success—as Papa John’s tries to reinvent its brand.
Papa John's stock is currently down 3.29% to $56.80 in after-hours trading shortly after its earnings report was released.
Missed earnings estimates. The company posted adjusted earnings of $0.50 per share, falling short of the Zacks Consensus Estimate of $0.62 per share.
Missed revenue estimates. The company saw revenue figures of $427.36 million, missing our consensus estimate of $438.11 million.
Papa John's saw its quarterly revenues sink roughly 5% from $449.27 million in the year-ago period. The company’s North American comparable sales dipped 5.3%. Meanwhile, the pizza chain’s bottom line fell around 35% from $0.77 per share.
"Although first quarter results were lower than the prior year, they were consistent with our expectations,” Steve Ritchie said in a statement. “We remain focused on enhancing our value perception and driving our strategic initiatives."
Here’s a graph that looks at PZZA’s Price, Consensus and EPS Surprise history:
Check back later for our full analysis on PZZA’s earnings report!
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