Papa Johns reports $4.5m net income in Q3

Earnings per share were $0.13.

Papa Johns reported a net income of $4.5m for the third quarter (Q3) of 2025, down $37.3m from the same period last year.

This was mainly due to last year’s results, which included a $41.3m pre-tax gain from selling two quality control centre properties.

Revenue inched up by 0.3% to $508.2m, as stronger results in international markets were offset by weaker performance in North America.

The modest increase in revenue came from higher digital fees ($1.9m), increased franchise royalties and fees ($1.2m) driven by international sales, and a $0.6m rise in commissary sales tied to higher volume and pricing.

Those gains were partly offset by a $2.7m drop in company-owned restaurant revenue, mainly reflecting lower US sales and the refranchising of 15 restaurants, though company-owned units in the UK saw an $0.8m increase.

Global systemwide sales rose 2% to $1.21b, supported by higher international same-store sales and a 1% net increase in restaurant count over the past year.

Adjusted EBITDA fell to $47.8m due to higher general and administrative costs from marketing investments and incentive pay, partly offset by stronger international results and commodity deflation in North America.

Earnings per share were $0.13, whilst adjusted earnings per share came in at $0.32.