You might also like
Papa John's International, Inc. (PZZA) operates and franchises pizza delivery and carryout restaurants, and in certain international markets, dine-in and delivery restaurants under the trademark "Papa John's." The company began operations in 1984 and, as of September 29, 2024, there were 5,908 Papa John's restaurants in operation across 49 countries and territories. Papa John's sells pizza and other food and beverage products through its company-owned and franchised restaurants, as well as supplies food and other products to its franchisees.
-
North America Commissaries - Supplies pizza sauce, dough, food products, paper products, smallwares, and cleaning supplies to both Company-owned and franchised restaurants in the United States and Canada, ensuring consistent food quality and helping lower costs.
-
Domestic Company-owned Restaurants - Operates all domestic Company-owned restaurants, generating revenues from retail sales of pizza and other food and beverage products.
-
All Others - Includes other revenues such as marketing fund contributions and sublease rental income.
-
International Operations - Encompasses all restaurant operations outside the United States and Canada, including distribution sales to Papa John's restaurants in the UK and franchise sales and support activities.
-
North America Franchising - Involves franchise sales and support activities, deriving revenues from the sale of franchise and development rights, and the collection of royalties from franchisees in the United States and Canada.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Caroline M. Oyler Executive | Chief Legal & Risk Officer, Corporate Secretary | None | Caroline Oyler has been with Papa John’s since 1999. She currently oversees legal, risk, and governance functions. She has held various senior legal roles and served as interim head of HR in 2008–2009. | |
Joseph Sieve Executive | Chief Restaurant and Global Development Officer | None | Joseph Sieve joined Papa John’s in May 2022 as Chief Restaurant Officer and was promoted to his current role in September 2024. He has over 25 years of experience in restaurant operations, including leadership roles at Inspire Brands and Domino’s. | |
Kevin Vasconi Executive | Chief Digital and Technology Officer | None | Kevin Vasconi became Papa John’s Chief Digital and Technology Officer on September 9, 2024. He previously held CIO roles at Wendy’s and Domino’s, where he led digital transformations and ecommerce growth. | |
Ravi Thanawala Executive | CFO & EVP, International | None | Ravi Thanawala joined Papa John’s as CFO on July 24, 2023. He was later promoted to EVP, International in September 2024. Previously, he held leadership roles at Nike and ANN INC., focusing on financial management and international business. | View Report → |
Todd A. Penegor Executive | President and CEO | Ball Corporation (Board Member), Dutch Bros Inc. (Board Member) | Todd A. Penegor became CEO of Papa John’s on August 1, 2024. Previously, he was CEO of Wendy’s, where he led significant growth and innovation. He also held leadership roles at Kellogg and Ford Motor Company. | View Report → |
Christopher L. Coleman Board | Chair of the Board | Rothschild & Co (Group Head of Banking, Global Partner, Chairman of Rothschild & Co Bank International), Barrick Gold Corporation (Board Member) | Christopher Coleman has been a director since 2012 and became Chair of the Board on March 1, 2023. He brings extensive financial expertise from his leadership roles at Rothschild & Co and board experience at Barrick Gold. | |
Jocelyn C. Mangan Board | Director | Him For Her (CEO and Founder), Wag! Group Co. (Board Member), ChowNow (Board Member) | Jocelyn C. Mangan has been a director at Papa John’s since 2019. She is a technology and product strategy expert and the founder of Him For Her, a social enterprise focused on board diversity. | |
John C. Miller Board | Director | Denny’s Corporation (Board Member), Wilberforce University (Vice-Chair of Board of Trustees) | John C. Miller joined Papa John’s Board on July 25, 2023. He has 45 years of experience in restaurant operations, including as CEO of Denny’s and Taco Bueno. | |
John W. Garratt Board | Director | Humana, Inc. (Board Member), Cracker Barrel Old Country Store, Inc. (Board Member) | John W. Garratt joined Papa John’s Board on October 24, 2023. He previously served as President and CFO of Dollar General, where he drove significant growth. He also held finance roles at Yum! Brands. | |
Laurette T. Koellner Board | Director | Celestica, Inc. (Board Member), The Goodyear Tire & Rubber Company (Non-Executive Board Chair), Nucor Corporation (Board Member) | Laurette T. Koellner has been a director at Papa John’s since 2014. She brings expertise in finance, governance, and international business from her leadership roles at Boeing and other public companies. | |
Sonya E. Medina Board | Director | Delta Apparel, Inc. (Board Member), TKO Group Holdings, Inc. (Board Member) | Sonya E. Medina has been a director at Papa John’s since 2015. She is an expert in brand management, social impact, and diversity, and she leads Reach Resilience, a foundation serving communities in crisis. | |
Stephen L. Gibbs Board | Director | Radio Systems Corporation (Board Member) | Stephen L. Gibbs joined Papa John’s Board on October 24, 2023. He has extensive financial governance experience, having served as Chief Accounting Officer at The Home Depot and Tyson Foods. |
- Company-owned restaurant margins declined approximately 400 basis points in Q4 2024 due to higher food costs and lower average ticket; what specific strategies are you implementing to improve these margins and counteract commodity inflation pressures?
- With international comparable sales expected to be flat to up 2% in 2025, and concerns about greater penetration leading to potential market saturation, how do you plan to drive growth in key international markets without cannibalizing existing stores?
- The enhancements to your loyalty program have increased redemption rates but contributed to a 2% decrease in ticket comps; how will you balance the increased customer engagement from the loyalty program with the need to maintain or grow average ticket value and overall profitability?
- You are investing up to $25 million in incremental marketing in 2025, including $5 million behind CRM and loyalty; what is the expected return on this investment, and how will you measure its effectiveness in driving sales growth and improving margins?
- As you pursue refranchising of select company-owned restaurants to accelerate development, how will this strategy impact your financial performance in the near term, and what criteria are you using to decide which restaurants to refranchise versus retain?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Chuy's Holdings, Inc. | Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). | |
Part of the Comparator Group in the S&P1500 in the Restaurants Sub-Industry (GICS code 25301040). |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
27 Papa John's restaurants in the United Kingdom | 2023 | Acquired for approximately $1.5 million, this transaction aimed to reposition the UK business through operational improvements and innovation, increasing the portfolio to 118 company-owned restaurants. |
10 domestic restaurants | 2023 | Acquired for $4.1 million with assets allocated as $1.4M for property and equipment, $1.5M for reacquired franchise rights, and $1.1M for goodwill; the fair value of some assets is still being finalized, and the impact was not material to the consolidated financial statements. |
91 Papa John's restaurants in the United Kingdom from DFSI's M25 division | 2023 | Acquisition valued at approximately $13.7 million included key assets of $9.1M in property and equipment and resulted in $4.3M in tax-deductible goodwill, supporting strategic improvements in revenue management, technology, and operations in the UK market. |
2 company-owned restaurants | 2022 | Completed in two phases (one in Q1 and one in Q2 2022); however, limited details were provided regarding the transaction's purchase price, strategic rationale, or specific assets. |
Recent press releases and 8-K filings for PZZA.
- Global system-wide sales reached $1.22 billion in Q1 2025, reflecting sequential improvements and a 1% increase from the prior year .
- Q1 2025 net income fell to $9 million (down from $15 million), with consolidated adjusted EBITDA of approximately $50 million amid pressures from lower ticket comps, higher input costs, and growth investments .
- North America comparable sales declined by approximately 3% (noting a 2.7% decline in some reports) while International comparable sales increased by 3%, contributing to overall performance .
- The company advanced strategic initiatives through investments in menu innovation, targeted marketing with a $7 million incremental spend, and a long-term technology partnership with Google Cloud to boost digital sales and customer engagement .
- Operationally, Papa John’s opened 47 new restaurants during the quarter, supporting its ongoing restaurant development strategy .
- Annual Meeting held on May 1, 2025 where stockholders elected directors, ratified the appointment of Ernst & Young LLP as independent auditors, and approved key proposals including executive compensation and an amendment to the 2018 Incentive Plan to reserve an additional 4,900,000 shares.
- Detailed voting results were disclosed for each item, providing transparency on director elections, auditor ratification, incentive plan amendment, compensation advisory vote, and a proposal on simple majority vote.
- Renewed $600 million revolving credit facility extended through 2030 and secured an additional $200 million senior secured term loan maturing in 2030, enhancing liquidity and extending the debt maturity profile.
- The refinancing is structured as leverage neutral and supports the company’s strategic priorities focused on profitable growth and transformation.
- Updated Investor Presentation furnished after the fiscal year 2024 earnings release provides supplemental details for interim periods and the full year ended December 29, 2024.
- The document was filed on March 12, 2025 as part of an 8-K report under Regulation FD Disclosure to ensure transparent communication with investors.
- Exhibit 99.1 within the filing includes the primary investor presentation, offering key insights for stakeholders.