Papa John: Announces First Quarter 2020 Results

Louisville / KY. (pj) Papa John’s International Inc., one of the world’s largest pizza delivery companies, announced financial results for the first quarter ended March 29, 2020. The company also provided an update on the business impact of the global coronavirus (Covid-19) pandemic.

Highlights

• First quarter 2020 earnings per diluted share of USD 0.15 compared to first quarter 2019 loss per diluted share of (USD 0.12)
• System-wide North America comparable sales increase of 5.3 percent
• International comparable sales increase of 2.3 percent
• Cash flow from operations of USD 33.7 million; free cash flow of USD 24.4 million for first quarter 2020
• Launched No Contact Delivery and Carryout domestically and in many international markets and on plan to hire thousands of new team members
• Preliminary estimated April fiscal period comparable sales increases of 26.9 percent for North America and 1.4 percent for international

Rob Lynch, President and CEO said, «Thanks to the tremendous effort of our team members and franchisees, I’m proud to say that Papa John’s has kept its doors open and continued feeding our customers and neighbors in North America and most markets during the Covid-19 pandemic. Guided by the needs of our team members and the communities we serve, we have implemented rigorous additional health and safety measures, including No Contact Delivery, and expanded our health and paid-leave benefits. Our team members and franchisees have also served more than two million free slices of pizza to those on the front lines and in need. As seen in our April North America comparable sales, after the close of the first quarter, unprecedented numbers of families are relying on Papa John’s. We are rising to this challenge, hiring thousands of new team members, safeguarding our supply chain and carefully managing our finances. It’s an honor to deliver Better Ingredients. Better Pizza. to our new and returning customers, especially in these trying times.»

For additional information please read the Company’s PDF file below (162 KB):

20200507-PAPA-JOHNS-Q1-2020.