Papa John's Q3 Profit Tops Estimates

(RTTNews) - Papa John's International, Inc. (PZZA) said its adjusted earnings per share more than doubled in the third quarter. System-wide sales grew 11.2%. Comparable sales were up 6.9% in North America and increased 8.3% internationally.

Third quarter adjusted earnings per share increased to $0.83 from $0.35 a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.70, for the quarter. Analysts' estimates typically exclude special items.

Net income to shareholders increased to $28.96 million or $0.79 per share from $11.46 million or $0.35 per share, prior year.

Total revenues increased 8.4% to $512.8 million. Analysts on average had estimated $498.93 million in revenue. Consolidated revenues increased primarily as a result of higher comparable sales of 6.9% for North America restaurants.