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Papa John’s Earnings: PZZA Stock Gains as Q1 Earnings, Sales Impress

Papa John’s (NASDAQ:PZZA) unveiled its latest quarterly earnings results after hours today, bringing in figures that impressed overall as both earnings and sales topped the mark, lifting PZZA stock late in the afternoon.

Papa John's EarningsThe Louisville, Kentucky-based pizza maker said that for its first quarter of its fiscal 2019, it brought in adjusted earnings of 31 cents per share, which was stronger than the 24 cents per share that the Wall Street consensus estimate called for. The business added that its revenue for the period amounted to $398.4 million, topping the $384.6 million that the Wall Street projection predicted, according to a survey of analysts compiled by Bloomberg.

Papa John’s added that its same-store sales for the period were down roughly 6.9% in North America, which was a narrower decline than the 7.3 slide that Wall Street projected. “The first quarter was a time of promise for Papa John’s,” new CEO Steve Ritchie said in a statement.

“We made further progress in transforming the culture, thinking and momentum within the company,” he added. “We have significantly strengthened and refreshed the company’s leadership, adding talented members to the senior management team and highly-qualified directors to the board this year.”

PZZA stock is up about 2.1% after the bell thanks to a strong period for the company. Shares had been declining 3.9% during regular trading hours Tuesday as the pizza giant geared up to report its results.

Article printed from InvestorPlace Media, https://investorplace.com/2019/05/papa-johns-earnings-pzza-stock-2/.

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