Papa John’s International, Inc. (NASDAQ: PZZA)today announced its Q1 2020 financial results for the first quarter ended March 29, 2020.
Key Takeaways from Q1 2020 financial results are as follows:
- First quarter 2020 earnings per diluted share of $0.15 compared to first quarter 2019 loss per diluted share of ($0.12)
- System-wide North America comparable sales increase of 5.3%
- International comparable sales increase of 2.3%
- Cash flow from operations of $33.7 million; free cash flow of $24.4 million for first quarter 2020
- Launched No Contact Delivery and Carryout domestically and in many international markets and on plan to hire thousands of new team members
- Preliminary estimated April fiscal period comparable sales increases of 26.9% for North America and 1.4% for international
,“Thanks to the tremendous effort of our team members and franchisees, I’m proud to say that Papa John’s has kept its doors open and continued feeding our customers and neighbors in North America and most markets during the COVID-19 pandemic. ” said Rob Lynch, President & CEO -“Guided by the needs of our team members and the communities we serve, we have implemented rigorous additional health and safety measures, including No Contact Delivery, and expanded our health and paid-leave benefits. Our team members and franchisees have also served more than two million free slices of pizza to those on the front lines and in need. As seen in our April North America comparable sales, after the close of the first quarter, unprecedented numbers of families are relying on Papa John’s. We are rising to this challenge, hiring thousands of new team members, safeguarding our supply chain and carefully managing our finances. It’s an honor to deliver BETTER INGREDIENTS. BETTER PIZZA. to our new and returning customers, especially in these trying times.”
conference call is scheduled for May 6, 2020 at 8:00 a.m. Eastern Time to review the company’s first quarter 2020 earnings results. The call can be accessed from the company’s web page at www.papajohns.com in a listen-only mode or dial 877-312-8816 (U.S. and Canada) or 253-237-1189 (international). The conference call will be available for replay, including by downloadable podcast, from the company’s web site at www.papajohns.com. The Conference ID is 8681167.