-=Papa John's (PZZA) reported earnings on Tue 8 May 2018 (a/h)

Papa John's misses by $0.12, misses on revs; global comps -1.3%, reaffirms 2018 outlook 

• Reports Q1 (Mar) earnings of $0.50 per share, $0.12 worse than the Capital IQ Consensus of $0.62; revenues fell 4.9% year/year to $427.37 mln vs the $440.74 mln Capital IQ Consensus.
• North America comparable sales decrease of 5.3%
• International comparable sales increases of 0.3%; international franchise sales increase of 21.1%, excluding the impact of foreign currency
• Domestic Company-owned restaurants operating margin decreased $8.6 million, or 2.7% as a percentage of related revenues, primarily due to lower comparable sales, increased labor costs including higher minimum wages and increased non-owned automobile costs.

Co states, "The company is reaffirming its previously issued 2018 outlook, as we expect our initiatives will result in improved sales and operating results in the last half of the year."