By Emon Reiser
Papa John's International served up better results than Wall Street expected despite reporting lower profit and revenue in the fourth quarter.
The pizza chain posted a profit of $14.8 million, or 44 cents a share, compared with $26 million, or 79 cents a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were 63 cents a share. Analysts polled by FactSet expected 50 cents.
Revenue declined to $530.8 million, but topped analyst estimates for $516.6 million. Revenue was $571.3 million in the year-ago quarter. The company said sales were down for its U.S. stores, but sales for its international stores were on the rise during the quarter.
For fiscal 2025, the company expects system-wide sales to grow between 2% to 5%. Papa John's expects up to 115 location openings in North America and up to 200 openings internationally.
Shares rose 6% to $49.05 in pre-market trading. The stock was already up nearly 13% year to date ahead of Wednesday's close.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
February 27, 2025 08:34 ET (13:34 GMT)
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