- Papa John's International Inc (NASDAQ:PZZA) reported first-quarter FY22 sales growth of 6% year-on-year to $542.69 million, beating the consensus of $540.39 million.
- Adjusted EPS of $0.95 topped the Street view of $0.94.
- Total comparable sales growth was 1.6% versus 25.4% the prior year. Comparable sales improved 1.9% in North America and 0.8% Internationally.
- Total global system-wide restaurant sales growth was 5.3%.
- The operating margin was 2.7%, and operating income for the quarter plunged 69.2% to $14.4 million.
- The company held $80.7 million in cash and equivalents as of March 27, 2022. It generated an operating cash flow of $25.4 million for the quarter with a free cash flow of $15.2 million.
- Papa John's recorded 62 net unit growth in the quarter. As of March 27, 2022, there were 5,524 Papa John's restaurants operating in 49 countries and territories.
- The company has $369.1 million remaining available under its share repurchase program as of April 29, 2022.
- The company's Q2 dividend of $0.35 per common share will be paid on May 27, 2022, to stockholders of record on May 16, 2022.
- Outlook: Papa John's raised its FY22 restaurant growth outlook to 280 – 320 units from 260 – 300 units.
- Price Action: PZZA shares traded higher by 4.34% at $96.80 on the last check Thursday.
- Photo Via Wikimedia Commons
