Papa John's International Inc (PZZA) reported decreased first quarter earnings compared to the same period last year, however, these figures still surpassed Wall Street predictions.
The corporation reported a net income of $14.64 million, or $0.44 per share. This is a reduction compared to the preceding year's first quarter, where they reported a bottom line of $22.38 million, or $0.65 per share.
When factoring out specific items, Papa John's International Inc declared an adjusted earning of $22.01 million or $0.67 per share for this period.
Despite the decrease, the company outperformed expectations of financial market analysts who, according to data collated by Thomson Reuters, had predicted an average per share earnings of $0.57. It should be noted that these estimates generally disregard unusual items.
There was a 2.5% decrease in the company's revenue for this quarter, falling to $513.92 million from last year's $527.05 million.
To summarise, under the generally accepted accounting principles (GAAP), the earnings figures for Papa John's International Inc are as follows:
- Q1 Earnings: $14.64 million, a decrease from last year's $22.38 million.
- Q1 Earnings Per Share (EPS): $0.44, a decrease from last year's $0.65.
- Q1 Revenue: $513.92 million, a decrease from last year's $527.05 million.
