Papa John's Q1 Miss, Shares Drop 4%

Adjusted EPS $0.32 missed consensus $0.37 by $0.05 and revenue $478.6 million fell short of $485.08 million estimate.
Global comparable sales fell 4% (North America down 6.4%, International up 3.6%) and system‑wide restaurant sales dropped 3% to $1.20 billion.
Company opened 28 new restaurants (8 North America, 20 International) while net income fell to $7 million from $9 million YoY.
FY2026 outlook unchanged: global sales flat to low‑single‑digit decline, NA sales down 2‑4%, Intl up 2‑4%, EBITDA $200‑210 million.