Shares of Papa John's International Inc. (PZZA) were gaining around 10 percent in the morning trading on the Nasdaq, after the pizza maker's second-quarter earnings and revenues beat market estimates, and the company raised outlook for International comparable sales.
For fiscal 2025, the company continues to expect fiscal 2025 outlook for system-wide sales growth of 2 percent to 5 percent, North America comparable sales to be flat to up 2 percent, and adjusted EBITDA of $200 million to $220 million.
Further, the company raised its guidance for International comparable sales to a growth of 2 percent to 4 percent, compared to previously expected flat to up 2 percent growth.
In its second quarter, Papa John's net earnings came in at $9.67 million or $0.28 per share, down from $12.53 million or $0.37 per share last year.
Adjusted earnings were $13.52 million or $0.41 per share for the period, compared with $0.61 last year.
The Wall Street analysts on average expected the company to report earnings of $0.34 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 4.2 percent to $529.16 million from $507.89 million last year. The Street expected revenues of $516.07 million.
On the Nasdaq, Papa John's shares are currently gaining around 10.1 percent to trade at $44.60.
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