On May 8, 2025, Papa John's International, Inc. announced its financial results for the first quarter ended March 30, 2025, reporting total revenues of $518.3 million, an increase of 0.9% year-over-year.
Net income for the quarter was $9.3 million, a decrease from $14.9 million in Q1 2024, resulting in diluted earnings per common share of $0.27, down from $0.44 in the prior year period. Adjusted EBITDA was $49.6 million, a decrease from $60.6 million in Q1 2024.
North America comparable sales declined by 2.7%, while International comparable sales increased by 3.2%. Global system-wide restaurant sales grew by 1%.
The company reported free cash flow of $19.1 million for the quarter, a significant improvement from an outflow of $1.1 million in the prior year period.
Papa Johns reiterated its 2025 annual guidance, expecting system-wide sales growth of 2% to 5%, North America comparable sales to be flat to up 2%, International comparable sales of 2% to 4%, and consolidated adjusted EBITDA between $200 million and $220 million.
CEO Todd Penegor stated that first quarter results were in line with expectations, with strategic investments in marketing and technology driving early momentum and positive customer response to value propositions and enhanced digital experiences.
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