co$NA+NA%
cl$99.39+3.0055%
ng$4.79+5.2747%
ba$186.89+1.3778%
hwm$82.68+0.4129%
hxl$63.66+2.2815%
wwd$183.13+2.1133%
rtx$113.95+0.423%
ge$169.81+3.1214%
txt$92.06+0.8435%
tgi$16.67+1.7705%
trs$27.51+1.7382%
tdg$1234.86+0.5243%
spr$35.57+0.169%
lmt$524.8+0.6521%
hon$202.74+0.1432%
hei$234.23+1.5037%
gd$290.4-0.1993%
cw$280.32+0.5524%
air$66.62+0.513%
b$41.1-2.3985%
aph$63.86+3.4003%
aal$10.62+0.1887%
dal$44.13+1.5183%
ual$47.37+1.3913%
save$2.96+2.7778%
luv$27.23-3.0271%
jblu$6.21+2.9851%
alk$39.46+2.0165%
arnc$NA+NA%
ati$65.54+1.9602%
crs$140.78+4.4672%
hayn$59.78+0.5382%
nue$160.89+2.4647%
rs$304.05-1.3305%
stld$130.54+2.3041%
schn$NA+NA%
aa$33.43+1.5801%
x$40.75+0.2953%
ryi$25.56+1.1476%
zeus$50.7+1.5218%
clf$15.47+1.3761%
kalu$77.76-0.3843%
wor$50.8+1.4377%
vale$10.86+1.4953%
mt$22.72+0.9329%
ggb$3.23-0.3086%
tmst$NA+NA%
fcx$45+1.0555%
cstm$16.99-0.5269%
cenx$15.42+1.715%
io$NA+NA%
hrc$NA+NA%
al$49.47+2.4012%

PZZA (Post-Call) A Shaq-tastic Q2 and July

By Mark Kalinowski Published on August 6, 2020 at 12:00 AM

Earlier today, Papa John’s (PZZA; Buy, $99.14) reported adjusted Q2 EPS of $0.48, coming in meaningfully above our $0.35 forecast and sell-side consensus of $0.44. We had been concerned that costs related to franchisee assistance — which amounted to a -$0.12 hit in Q2 — would hold back Q2 earnings, but the strength of the business (North American same-store sales up a previously-announced +28.0%) more than made up for this. Built into our Q2E estimate heading into today was an EPS hit of -18 cents related to franchisee assistance, so even specific to Q2, this came in +6 cents better than we expected.

PZZA Adjusting Q2E-Q3E EPS Estimates a Little More

By Mark Kalinowski Published on May 6, 2020 at 12:00 AM

Earlier today regarding Papa John’s (PZZA; Buy, $76.16), we adjusted our 2020E EPS estimate downward by -40 cents to $1.15, reflecting: (1) a -50 cent hit for Q1A-Q3E adjustments to how Papa John’s records franchisee financial assistance (related to royalty relief and the discretionary marketing fund), with -26 cents of this having taken place in Q1, and our estimate of -12 cent hits each to Q2E and Q3E, and (2) +10 cents reflecting better-than-expected April North American same-store sales trends and the momentum resulting from this.