Papa John’s cooks up a Q2 earnings beat

Brian Sozzi gives us his take on Papa John’s continued comeback as the company passes expectations driven by continued high demand for pizza post-pandemic.

Video transcript

[NO AUDIO]

- their beat on sales, pretty significantly. Adjusted earnings beat estimates by $0.20. And, yes that is me, inside of a Papa John's Pizza. That is just the fine work of our producer team here.

- That's a personal size. That's six slices.

- Yeah. Yeah. Anyway. The system-wide North American same store sales for Papa John's up 5.2% estimates for a 1.1% increase. Very important to see that increase. This is a company starting to cycle a very strong year-ago comparisons. At this time last year, North America same-store sales for Papa John's up 26.2%. So very important to see that number here. International sales also a positive for Papa John's. Up 21.2% in the most recent quarter.

[NO AUDIO]

- To a new headquarters in Atlanta, right next to the Braves stadium. So for them, going back to the office is a real thing,

- Yeah. And I'm glad we have this graphic up. Because we talked about this with Domino's here. They were first out of the gate with the pizza-- the major national pizza chains. And I think the entire space has been looking for this moment of, OK. People are finally done eating pizza. And I think, to John Lynch's comments there, a little bit, that moment is, the moment is not now. Which-- it's funny to see that come as a surprise to Rob Lynch-- sorry-- come as a surprise to Papa John's.

- Yeah.

- They sell pizza.

- Yeah. And--

[NO AUDIO]