Papa John's Will No Longer Be Official Sponsor Of NFL

(RTTNews) - Papa John's International Inc. (PZZA) said that it will no longer be the official pizza of the National Football League.

"While the NFL remains an important channel for us, we have determined that there are better ways to reach and activate this audience," Papa John's Chief Executive Steve Ritchie said on a conference call. Instead, the company will shift its marketing from the broader NFL sponsorship to partnerships with 22 NFL teams and on its relationships with league players and personalities, Mr. Ritchie said.

Meanwhile, the company expects to repurchase shares in an amount equal to the remaining authorization by the end of 2019.

In 2018, the Company expects earnings per share to be in the range of $2.40 to $2.60. Excluding the $0.11 impact of the 53rd week in 2017, earnings per share decrease is 4.5% to 12.0% on adjusted 2017 earnings per share of $2.72. Analysts polled by Thomson Reuters expect the company to report earnings of $2.90 per share for 2018. Analysts' estimates typically exclude special items.