Earnings release
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PIZZA PAPA JOHN'S BETTER INGREDIENTS . BETTER PIZZA . PAPA JOHN'S ANNOUNCES FIRST QUARTER 2021 FINANCIAL RESULTS Louisville , Kentucky ( May 6 , 2021 ) - Papa John's International , Inc. ( NASDAQ : PZZA ) today announced financial results for the first quarter ended March 28 , 2021 . ● First quarter 2021 highlights compared to first quarter 2020 Total revenues increased 24.9 % to $ 511.7 million Comparable sales up 26.2 % in North America and 23.2 % Internationally driven by menu innovation , including the new Epic Stuffed Crust pizza in North America , and expanding customer base Earnings per diluted share rose to $ 0.82 from $ 0.15 ; Adjusted earnings per diluted share grew to $ 0.90 from $ 0.15 Cash flow from operations of $ 63.2 million ; free cash flow of $ 52.7 million 68 net unit openings in the first quarter driven by International growth ; now in 50 countries and territories with first new units in Germany and Cambodia " Papa John's started 2021 strongly , delivering our sixth straight quarter of industry outperformance and fourth of double - digit global sales growth . In addition , our unit growth accelerated , and we achieved 600 basis points of operating margin expansion , growing adjusted earnings per share 500 % , " said President & CEO Rob Lynch . " This momentum is a result of the hard work of our team members and the strength of our franchise system , who together have delivered sustainable business growth over the past seven quarters , reversing the prior six quarters of global restaurant sales declines . " Mr. Lynch continued , " The strategy we put in place more than 18 months ago focused on innovation , development , operational improvements , and building a culture that values diversity , inclusivity and winning has provided the strong foundation that underscores Papa John's industry outperformance and positive long - term outlook . "