NASDAQ$PZZA

Papa John's International Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Papa John's reported strong Q4 2021 earnings with revenue up 12.6% and EPS growing 139%.

Papa John's International, Inc. announced strong financial results for the three months and full year ended December 26, 2021. Fourth quarter total company revenues were $528.9 million, up 12.6% over 2020. Comparable sales were up 11.1% in North America and 2.4% Internationally. Earnings per diluted share grew 139% to $0.67, and adjusted earnings per diluted share grew 88% to $0.75.

  • Total company revenues increased by 12.6% compared to the prior year fourth quarter.
  • North America comparable sales increased by 11.1% and International comparable sales increased by 2.4%.
  • Global system-wide restaurant sales increased by 13.1% from 2020 (excluding the impact of foreign currency).
  • Earnings per diluted share grew 139% to $0.67; Adjusted earnings per diluted share grew 88% to $0.75.

Headline financials

Total Revenue

$529M

Previous: $470M+12.6%
EPS (adj)

$0.75

Previous: $0.40+87.5%
Domestic Comp Sales Growth

10.2%

Previous: 10.2%+0.0%
NA Franchised Comp Growth

11.3%

Previous: 14.5%-22.1%
NA Comp Sales Growth

11.1%

Previous: 13.5%-17.8%
International Comp Growth

2.4%

Previous: 21.4%-88.8%
Total Comp Sales Growth

8.6%

No prior period
Global System-wide Growth

13.1%

Previous: 15.5%-15.5%
Capital Expenditures

$27.2M

Previous: $11.4M+139.2%
Free Cash Flow

-$36.2M

Previous: $6.51M-655.8%
Net Income

$24.6M

Previous: $13.2M+87.0%
Operating Income

$38.2M

Previous: $19.7M+93.8%
Gross Profit

$105M

Previous: $87.5M+19.5%
Cash & Equivalents

$70.6M

Previous: $130M-45.8%
Total Assets

$886M

Previous: $873M+1.5%
Stock-Based Comp

$4.4M

Previous: $3.24M+35.8%

Revenue & EPS history

Papa John's · Revenue · Quarterly

$529M

Q4 2021+12.6%vs Q4 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Papa John's · $529M total across 5 segments · Q4 2021

  • North America Commissaries
    $201M+13.7%
  • Domestic Company-owned
    $193M+10.9%
  • All Other
    $62.6M+14.4%
  • International
    $40.1M+10.4%
  • North America Franchising
    $32.2M+15.6%

Forward guidance

Given on-going uncertainty surrounding the future impact of COVID-19, and especially the Omicron variant, the company is not providing comprehensive outlook metrics for 2022 at this time.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+0.9%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+0.6%

Avg return

30 days after

60%

44 / 73 earnings

Positive

+17.6%

Q1 2012

Best reaction

-17.2%

Q3 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.7%+0.9%-5.6%
Q4 2025-8.6%-5.4%-6.1%
Q3 2025+3.7%+2.4%-0.2%
Q1 2025+15.9%+24.5%+49.9%
Q4 2024+1.4%+0.8%-13.8%
Q3 2024-5.4%-12.4%-16.3%
Q2 2024+5.6%+9.2%+10.4%
Q1 2024-6.7%-8.0%-17.7%
Q4 2023-0.3%+0.8%-5.1%
Q3 2023+4.2%+3.6%+3.7%
Q2 2023-0.6%+0.2%-5.5%
Q1 2023+3.1%+3.3%-4.6%
Q4 2022-7.3%-9.1%-17.4%
Q3 2022+2.7%+3.9%+13.1%
Q2 2022-5.0%-6.2%-18.1%
Q1 2022-5.8%-7.2%-5.3%
Q4 2021+0.6%+2.2%-5.8%
Q3 2021+7.3%+7.1%+0.8%
Q2 2021+4.1%+4.4%+13.3%
Q1 2021+5.7%+3.2%+0.8%
Q4 2020-12.1%-12.1%-13.9%
Q3 2020+9.7%+4.7%+6.2%
Q2 2020-1.0%-5.5%-8.8%
Q1 2020+6.1%+9.1%+3.8%
Q4 2019-13.6%+6.0%+45.0%
Q3 2019+9.4%+9.5%+5.7%
Q2 2019+3.6%+7.7%+15.7%
Q1 2019-2.3%-1.9%-5.4%
Q4 2018+2.1%+3.5%+24.1%
Q3 2018+3.4%+1.3%-16.0%
Q2 2018-8.0%-4.9%+9.1%
Q1 2018-4.3%-11.1%-12.2%
Q4 2017+0.8%+5.9%+0.1%
Q3 2017-7.1%-8.3%-12.8%
Q2 2017+9.3%+7.9%+4.9%
Q1 2017+0.7%+3.2%+4.2%
Q4 2016-7.5%-8.5%-13.6%
Q3 2016+4.0%+2.7%+15.7%
Q2 2016+4.3%+1.8%+1.3%
Q1 2016+4.4%
Q4 2015+12.3%
Q3 2015-17.2%
Q2 2015-6.4%
Q1 2015+2.4%
Q4 2014-1.8%
Q3 2014+7.1%
Q2 2014-4.9%
Q1 2014-2.9%
Q4 2013+7.2%
Q3 2013+0.5%
Q2 2013+3.8%
Q1 2013+1.9%
Q4 2012-8.1%
Q3 2012-5.4%
Q2 2012+1.7%
Q1 2012+17.6%
Q4 2011-7.0%
Q3 2011+6.6%
Q2 2011-1.5%
Q1 2011-0.8%
Q4 2010+0.5%
Q3 2010-2.6%
Q2 2010-5.5%
Q1 2010+2.1%
Q4 2007+7.3%
Q4 2009+7.3%
Q3 2008+0.7%
Q3 2009+0.7%
Q2 2009+7.0%
Q1 2008+6.8%
Q4 2008+6.8%
Q2 2008+6.8%
Q1 2009+6.8%

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