Papa John's International Q1 Profit Increases, but misses estimates

(RTTNews) - Papa John's International (PZZA) reported a profit for its first quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $22.376 million, or $0.65 per share. This compares with $10.494 million, or $0.29 per share, in last year's first quarter.

Excluding items, Papa John's International reported adjusted earnings of $23.423 million or $0.68 per share for the period.

Analysts on average had expected the company to earn $0.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.9% to $527.049 million from $542.692 million last year.

Papa John's International earnings at a glance (GAAP) :

-Earnings (Q1): $22.376 Mln. vs. $10.494 Mln. last year. -EPS (Q1): $0.65 vs. $0.29 last year. -Analyst Estimate: $0.69 -Revenue (Q1): $527.049 Mln vs. $542.692 Mln last year.