Papa John’s: Announces Q4 and Fiscal 2020 Results

Louisville / KY. (pj) Papa John’s International Inc., one of the world’s largest pizza delivery companies, announced financial results for the three months and full year ended December 27, 2020.

Fourth quarter highlights compared to prior year

  • Total revenues of USD 469.8 million, up 12.5 percent over 2019
  • Comparable sales up by 13.5 percent in North America and 21.4 percent Internationally
  • Earnings per diluted share rose to USD 0.28 from loss per diluted share of (USD 0.18)
  • Adjusted earnings per diluted share grew to USD 0.40 versus adjusted loss per diluted share of (USD 0.25), excluding Special items
  • 40 net unit openings in the fourth quarter driven by International
  • Paid end-of-year bonuses to front-line team members of USD 2.7 million (USD 0.06 per diluted share)

Full year 2020 highlights compared to prior year

  • Total revenues of USD 1,813.2 million, up 12.0 percent over 2019
  • Comparable sales up by 17.6 percent in North America and 12.6 percent Internationally
  • Earnings per diluted share rose to USD 1.28 compared to loss per diluted share of (USD 0.24)
  • Adjusted earnings per diluted share grew to USD 1.40 from adjusted earnings per diluted share of USD 0.03, excluding Special items
  • Cash flow from operations of USD 186.4 million and free cash flow of USD 137.1 million for full year 2020

«2020 was a transformational year for Papa John’s, as we turned our focus to the future. We were able to deliver industry-leading sales growth and significant profitability by coming together as a system to take care of our team members, customers and communities in one of the most challenging years in history,» said President + CEO Rob Lynch. «Q4 2020 was the third consecutive quarter of double-digit comparable sales growth and the sixth straight quarter of positive comparable sales in North America. We ended the year with the launch of Epic Stuffed Crust, the biggest product innovation in the company’s history, and our future is extremely bright.»

Lynch continued, «We are confident that the foundations of our business – our company’s core values, our iconic brand, our dedicated team members, our strong franchise system and our rapidly improving financial performance – are stronger than ever, and we continue to build momentum. We remain hopeful for a swift end to the global pandemic and continue to prioritize the health and safety of our team and customers, while we meet our responsibility to serve millions of new and returning customers.» For additional information please read the company’s PDF file below (174 KB).

20210226-PAPA-JOHNS-Q4-2020
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