Papa Johns Events & Presentations A 20% INCREASE IN THE CASH DIVIDEND Greater Louisville Area (August 4, 2022). Today, Papa John’s International, Inc., doing business as “Papa Johns®”. Released its financial results for the second quarter ending June 26, 2022.
Highlights About The Event
When comparing the current quarter to the same quarter last year, total revenues for Papa Johns Events & Presentations are up 1.5%, to $522.7 million. Revenues increase by 5.2% in the first quarter of 2022. Despite the fact that 90 restaurants were refranchise at that time.
Comparable sales in North America rose by 0.9% this year, while they fell by 8% internationally. Both exceeding the gains of 5.2% and 21.2% seen in the prior year. Events and presentations at Papa John’s restaurants around the world totaled $1.2 billion, up 2.6% 1 over the same quarter a year before.
Papa Johns Net Unit Openings In The Second Quarter
Presentations and Events by Papa John’s Second-quarter net unit openings were driven by growth in overseas markets, and full-year 2022 projections remain unchanged at between 280 and 320 units. Pappa John’s Compared to last year’s net income per diluted share of $0.93, this year’s figure is lower at $0.70, with non-GAAP adjusted diluted earnings per share of $0.74 (excluding special costs).
Papa John’s Declared A Quarterly Dividend
Presentations and Events by Papa John’s The Board of Directors has approved a quarterly payout of $0.42 per share for the third quarter and a 20% increase in the annual dividend rate, bringing the total to $1.68 per share. According to Rob Lynch, Papa John’s President and CEO, “Papa John’s had a 12th consecutive quarter of positive North American comparable sales in the second quarter, building on gains of more than 30 percent over the two years prior.”
Momentum Over The Past Three Years
Executives believe that the success of Papa John’s Events & Presentations over the past three years can be attributed to the company’s “distinct brand,” “menu innovations,” and “digital investments,” all of which are aimed at providing “premium value” to customers.
Due to the proven flexibility of our business model, our size, and our data edge. We are confident in our ability to continue managing a complicated macroeconomic context and maintaining positive North American comparables in the second half of this year and beyond.
Impact Of Fluctuations In Foreign Currency
Papa John’s Events & Presentations variations and announced franchisee closures are not accounted into in this forecast. The key factors leading to the decline in net income and earnings per diluted share in the second quarter were the acceleration in commodity costs and labour inflation, as well as the fall in international sales.
The deterioration of the UK economy was a major contributor to the drop in revenue from abroad sales. High prices and the waning effects of last year’s economic boost are affecting businesses worldwide, as Lynch put it.
Currently Experiencing Lapping Economic Stimulus
In addition, we are currently experiencing overlapping Papa John’s Events & Presentations, which is making the situation even worse. Although we anticipate these challenges to persist through the second half of 2022. The specific steps that we are doing now are focused on optimising our results in the near term. While also leaning into our differentiated approach and securing our expanding market share position in the long run.
By the time the current hurdles return to their usual levels. We will be in a far better position for long-term growth and margin accretion. The annual dividend has been increase by 20% to $1.68 per share, as report by the firm.
Company’s Robust Cash Flow Profile
The strong cash flow profile and balance sheet of Papa Johns Events & Presentations influenced this decision. Additionally, during the second quarter Papa John’s repurchased about $42.8 million worth of its already issued and existing shares using the share repurchase authorization it had at the time. “The foundation of our business strategy and our future success will be providing superior value to our customers, franchisees, and team members.”
As Lynch summed up, “we will continue to deliver long-term Papa Johns Events & Presentations shareholder value through winning innovations, speeding unit development, enhancing operations efficiencies, and making strategic capital investments.” Two New Financial Trends.
The First Term Of Six Months Concluded
Around the third month’s finish. (All dollar signs unless otherwise noted) June 26, 2022 On June 27, 2021, there will be a cost increase. This price increase will take effect on June 26, 2022, and June 27, 2021. (Decrease) Revenue
Earnings Per Share
Earnings per share (diluted) attributable to the deficit of papa johns coupons $ 0.70 $ (2.30) $ 3.00 $ 0.99 $ (1.47) $ 2.46 Earnings per share adjusted for dilution were $0.74 to $0.93 per share (0.19) $ 1.69 $ 1.94 $ (0.25) (a) Both adjusted operating income and adjusted diluted profits per share are non-GAAP measurements that exclude “Special items,” which are factors that affect the ability to compare results.
Reconciliation Of Non-GAAP Financial Measures
For a full explanation of how these numbers compare to GAAP, see the “Reconciliation of Non-GAAP Financial Measures” section below. Revenues Consolidated total revenues increased by $7.7 million, or 1.5 percent. To $522.7 million in the second quarter of 2022 compared to the same period in 2021.
Effect Of Refranchising 90 Restaurants In The First Quarter
Increases in consolidated overall revenue of $25.6 million, or 5.2%. Do not account for the impact of refranchising 90 locations in the first quarter of 2022. The main contributor to the rise in total revenue.
