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Papa John's (PZZA) remains cautious of a volatile geopolitical environment and inflationary pressures. The company anticipates international comp sales to remain under pressure throughout 2023.
Papa John's International Inc. PZZA, +0.33% said Wednesday Chief Financial Officer Ann Gugino is stepping down effective immediately. The company named Chris Collins, current vice president for treasury and tax, as its principal financial and accounting officer on an interim basis, as it starts to search for a successor to Gugino, it said in a regulatory filing.
Papa John's International Inc. PZZA, +2.39% said Thursday that Jefferey Smith, CEO of activist investor Starboard Value LP and chair of its own board has resigned effective March 1. The company named Christopher Coleman, who has been on the board since 2012, as his successor.
Papa John's (PZZA) fourth-quarter fiscal 2022 performance is affected by inflation and high energy prices in the U.K. market.
Domino's and Papa John's have been facing pressures in their delivery business from high inflation forcing customers to eat at home as well as staffing issues.
Papa John's International, Inc. (NASDAQ:PZZA ) Q4 2022 Earnings Conference Call February 23, 2023 8:00 AM ET Company Participants Stacy Frole - VP, IR Rob Lynch - President & CEO Ann Gugino - CFO Conference Call Participants Brian Bittner - Oppenheimer Sarah Senatore - Bank of America Merrill Lynch Chris O'Cull - Stifel Eric Gonzalez - KeyBanc Capital Markets Lauren Silberman - Credit Suisse Joshua Long - Stephens Peter Saleh - BTIG Alexander Slagle - Jefferies Operator Good day and thank you for standing by. Welcome to the Papa John's Fourth Quarter 2022 Conference Call and Webcast.
Papa John's (PZZA) delivered earnings and revenue surprises of 9.23% and 0.67%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Papa John's International Inc. PZZA, +1.52% posted a sizable fourth-quarter profit beat Thursday morning, while also exceeding analyst expectations for revenue. The company posted fourth-quarter net income of $23.5 million, or 66 cents a share, down from $24.6 million, or 67 cents a share, in the year-prior period.
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Good restaurants tend to be valued at a high premium due to the conservative and safe nature of their cash flows, even during a Recession. Papa John's has a bit more of a volatile up and down than one might expect from restaurants. COVID-19 impacts were present, but the company grew earnings significantly in 2021.