Papa John’s: Announces Q3-2020 Results

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

• Company revenues increased 17.1 percent compared to third quarter of 2019
• Comparable sales increased 23.8 percent in North America and 20.7 percent Internationally in the third quarter
• Earnings per diluted share increased to USD 0.35 compared to third quarter 2019 loss per diluted share of (USD 0.10)
• Cash flow from operations of USD 168.5 million and free cash flow of USD 134.0 million for the first nine months of 2020
• Previously announced temporary franchise support program ended in the third quarter, concluding a USD 55 million investment in the system over the past four quarters
• New USD 75 million share repurchase program authorized

«Thanks to our focus on our strategic priorities, our commitment to an innovation mindset, and our dedication to supporting our team members and franchisees, Papa John’s delivered another quarter of outstanding results,» said President and CEO Rob Lynch. «Double-digit comparable sales growth, dramatically higher earnings and robust free cash flow all reflect a winning strategy and execution that have helped us outperform our competition and deliver five straight quarters of same store sales growth.»

Lynch continued, «The new share repurchase program demonstrates our commitment to value creation in the near and long term, as well as our confidence in Papa John’s future. The tremendous progress we have made this year – a fast-growing customer base, a truly differentiated brand, a robust innovation pipeline and a vast global development opportunity – positions us to continue expanding our slice of the pizza and food delivery market, which itself has a promising future. Looking ahead, we are excited to continue taking care of our team members and customers, delivering great pizza, and realizing our tremendous potential.»

For additional information please read Papa John’s PDF file below (246 KB):

20201109-PAPA-JOHNS-Q3-2020.