— Papa John’s International (NASDAQ: PZZA) reported its fourth-quarter 2019 adjusted earnings of $0.37 per share versus $0.32 per share expected.
— Total revenue grew by 5% to $417.51 million versus $405.31 million expected. Excluding the impact of refranchising 46 domestic restaurants and a quality control center in Mexico in 2019, revenues increased by 8%.
— The global restaurant sales increased by 4.4% after a decline of 13% in the previous year quarter. Excluding the impact of foreign currency, global restaurant sales rose by 4.7%.
— The comparable sales in domestic company-owned restaurants increased by 4.1% and that in North America franchised restaurants rose by 3.3%. The system-wide North America comparable sales grew by 3.5% and international same-store sales rose by 2.4%.
— As of December 29, 2019, there were 5,395 Papa John’s restaurants operating in 49 countries and territories.
— Looking ahead into the full year 2020, the company expects adjusted EPS of $1.35-1.55 and GAAP EPS of $0.60-0.90. The consensus estimates EPS of $1.53.
— North America’s comparable sales are expected to be 2.5-5% for the full year and International comparable sales are predicted to be 1.5-4%. The company sees net global new unit growth of 100 to 140 net units.
— The company anticipates capital expenditures in the range of $40-50 million for the full year 2020.
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