Papa John’s: Announces Second Quarter 2021 Financial Results

Louisville / KY. (pj) Papa John’s International Inc., one of the world’s largest pizza delivery companies, announced financial results for the three and six months ended June 27, 2021. Second quarter 2021 highlights compared to prior year:

  • Total company revenues increased 11.8 percent to USD 515.0 million
  • Comparable sales up 5.2 percent in North America and 21.2 percent Internationally; Global system-wide restaurant sales of USD 1.2 billion, up 12.2 percent driven by innovation, strong customer retention and accelerating domestic and international unit growth
  • 55 net unit openings driven by International growth
  • Loss per diluted share of (USD 2.30), including Special items of USD 3.23 per share, largely related to repurchase and conversion of Series B Convertible Preferred Stock; Adjusted earnings per diluted share grew to USD 0.93 from USD 0.48 a year ago
  • For first six months of 2021, cash flow from operations of USD 128.0 million, up from USD 87.7 million a year ago; free cash flow of USD 100.1 million up from USD 67.0 million
  • Increases return to common shareholders with 56 percent increase in annual dividend rate to USD 1.40 per share; declares third quarter dividend of USD 0.35 per share

«Papa John’s delivered an eighth consecutive quarter of growth, with system-wide sales up 12 percent in Q2. We extended the record sales results we achieved a year ago, sustaining our industry outperformance as markets continue reopening,» said President and CEO Rob Lynch. «Robust two-year comparable sales results – up 33 percent in North America and 27 percent internationally – reflect the impact our multi-faceted innovation strategy has had across every area of our business, powered by the effort of our team members and franchisees.»

Lynch continued, «Papa John’s strong brand and highly-attractive unit economics are driving accelerated restaurant openings by both new and existing franchisees, resulting in a record 123 net unit openings in the first half of 2021. In addition to growing AUVs, development is now a significant component of rising system-wide sales. With our business firing on all cylinders, we are more confident than ever that Papa John’s strategy and growth model position us solidly for long-term growth, as we build the world’s best pizza delivery company.»

For additional information please read the company’s PDF file below (91 KB).


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