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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Thursday November 3, 2022, 13:03:22
By Mark Kalinowski
Earlier today, Papa John’s reported adjusted Q3 EPS of $0.54, short of our $0.58 forecast and sell-side consensus (according to Consensus Metrix) of $0.61. Adverse factors hindering Q3 results included negative same-store sales in both North America and International, all-time high commodity costs, and wage inflation.
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Monday October 3, 2022, 07:00:00
By Mark Kalinowski
Back on August 31st, we raised our EPS estimates for Papa Johns, citing block cheese prices that had trended downward – important for a company that owns and operates about 9% of its store base. Block cheese closed on August 31st at $1.73 per pound (one cent above the 2012-21 historical average of $1.74 per pound).
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