Papa John’s Q4 EPS $0.34, Revenue Falls 6.1% as North America Comps Drop 5%
Papa John’s reported Q4 adjusted EPS of $0.34 on revenue of $498.18 million, down 6.1% year-over-year and missing consensus by 3.3%. North America comparable sales declined about 5% while international comps rose 6%, and the company plans 40–50 North American and 180–220 international openings in 2026.
1. Q4 Financial Results
For the quarter ended December 28, 2025, Papa John’s generated revenue of $498.18 million, a 6.1% decline from a year earlier, missing the $514.89 million consensus by 3.3%. Adjusted EPS came in at $0.34 versus $0.63 in the prior-year period, slightly topping the $0.33 estimate.
2. Comparable Sales Trends
North America comparable restaurant sales fell 5.4% at company-owned locations and 5.3% at franchised sites, reflecting softer domestic demand and heavier promotions. International comparable sales grew 6%, marking the fifth consecutive quarter of positive comps in overseas markets.
3. Store Count and Unit Economics
The system ended the quarter with 462 domestic company-owned restaurants and 5,608 franchised units, in line with analyst estimates. Papa John’s opened 41 new restaurants in North America and 101 internationally during Q4, exiting with 6,083 locations worldwide.
4. 2026 Outlook and Cost Savings
Management expects 2026 global systemwide sales to be flat to down low single digits, with North America comps down 2%–4% and international comps up 2%–4%. The company plans 40–50 gross openings in North America, 180–220 internationally, and targets at least $25 million in corporate cost savings by 2027.