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Papa John's Turns To Profit In Q1

Papa John's International Inc. (PZZA) reported that its net income attributable to common shareholders for the first-quarter was $4.97 million or $0.15 per share, compared to net loss of $3.80 million or $0.12 per share in the prior year.

Adjusted earnings per share were $0.15, down from $0.19 in the previous year.

Total revenues for the quarter rose to $409.86 million from $398.41 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.39 per share and revenues of $412.19 million. Analysts' estimates typically exclude special items.

System-wide North America comparable sales increase of 5.3%. International comparable sales increase of 2.3%.

Preliminary estimated April fiscal period comparable sales increases of 26.9% for North America and 1.4% for international.

There continues to be many uncertainties related to the COVID-19 pandemic. In late March, the company withdrew its previously provided financial outlook for 2020.

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