Thursday May 4, 2023, 09:18:04
By Mark Kalinowski
Earlier today, Papa Johns reported that its first-quarter adjusted EPS came to $0.68, above our $0.63 forecast and sell-side consensus (according to Consensus Metrix) of $0.67. We attribute the Q1 EPS beat relative to our forecasts due to better-than-projected Q1 margins at company-owned units (helped by company-owned same-store sales rising by +3.4%, better than our +0.5% estimate and consensus of +0.4%), and also in the domestic commissary business.
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Sunday April 2, 2023, 12:25:45
By Mark Kalinowski
The average unit volume for a Papa John’s U.S. franchised store open for the entirety of 2022 was $1,133,480. If one presumes that roughly 75% of this came through digital orders, that makes the digital sales about $850,110.
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Thursday February 23, 2023, 09:27:14
By Mark Kalinowski
Earlier today, Papa Johns reported that its Q4 adjusted EPS amounted to $0.71. This was ahead of our $0.65 forecast and sell-side consensus (according to Consensus Metrix) of $0.67. We calculate that the adjusted Q4 tax rate came to 18.3%. This was more favorable than our 20.0% estimate and consensus at 20.7%. By our math, the better tax rate than expected helped Q4 EPS by about +2 cents relative to our projections.
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