Papa John's Q2 2024 10-Q Filed
Ticker: PZZA · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 901491
| Field | Detail |
|---|---|
| Company | Papa Johns International Inc (PZZA) |
| Form Type | 10-Q |
| Filed Date | Aug 8, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Papa John's 10-Q is in! Q2 2024 financials are here.
AI Summary
Papa John's International Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance across its Domestic Company-Owned Restaurants, North America Franchising, and North America Commissary segments. Key financial data and operational metrics for the second quarter and first half of 2024 are presented.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational details for Papa John's, crucial for understanding the company's performance and future outlook.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Players & Entities
- PAPA JOHNS INTERNATIONAL INC (company) — Filer
- 0000901491 (company) — Central Index Key
- 20240630 (date) — Period of Report
- 20240808 (date) — Filed as of Date
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
The filing was made on 20240808.
What is Papa John's Central Index Key (CIK)?
Papa John's CIK is 0000901491.
Which segments of Papa John's operations are detailed in the filing?
The filing details the Domestic Company Owned Restaurants Segment, North America Franchising Segment, and North America Commissary Segment.
What is the fiscal year end for Papa John's?
Papa John's fiscal year ends on 1229.
Filing Stats: 4,839 words · 19 min read · ~16 pages · Grade level 17.6 · Accepted 2024-08-08 07:02:36
Key Financial Figures
- $0.01 — changeonwhichregistered: Common stock, $0.01 par value PZZA The NASDAQ Stock Market
Filing Documents
- pzza-20240630.htm (10-Q) — 1727KB
- pzza-20240630xexx101.htm (EX-10.1) — 13KB
- pzza-20240630xexx311.htm (EX-31.1) — 10KB
- pzza-20240630xexx312.htm (EX-31.2) — 9KB
- pzza-20240630xexx321.htm (EX-32.1) — 4KB
- pzza-20240630xexx322.htm (EX-32.2) — 4KB
- pzza-20240630_g1.jpg (GRAPHIC) — 214KB
- 0001628280-24-035863.txt ( ) — 9036KB
- pzza-20240630.xsd (EX-101.SCH) — 44KB
- pzza-20240630_cal.xml (EX-101.CAL) — 72KB
- pzza-20240630_def.xml (EX-101.DEF) — 307KB
- pzza-20240630_lab.xml (EX-101.LAB) — 647KB
- pzza-20240630_pre.xml (EX-101.PRE) — 491KB
- pzza-20240630_htm.xml (XML) — 1344KB
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets — Ju ne 3 0 , 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations — Three and six months ended June 3 0 , 2024 and June 25 , 2023 2 Condensed Consolidated Statements of Comprehensive Income — Three and six months ended June 3 0 , 2024 and June 2 5 , 2023 3 Condensed Consolidated Statements of Stockholders' Deficit — Three and six months ended June 3 0 , 2024 and June 2 5 , 2023 4 Condensed Consolidated Statements of Cash Flows — S ix months ended June 3 0 , 2024 and June 2 5 , 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.
Controls and Procedures
Controls and Procedures 38 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 38 Item 1A.
Risk Factors
Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 5. Other Information 39 Item 6. Exhibits 40 i
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Papa John's International, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands, except per share amounts) June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 24,305 $ 40,587 Accounts receivable, net 93,460 104,244 Notes receivable, current portion 4,581 5,199 Income tax receivable 2,771 2,577 Inventories 37,656 36,126 Prepaid expenses and other current assets 58,762 42,285 Assets held for sale 4,205 — Total current assets 225,740 231,018 Property and equipment, net 265,693 282,812 Finance lease right-of-use assets, net 28,759 31,740 Operating lease right-of-use assets 154,371 164,158 Notes receivable, less current portion, net 9,915 12,346 Goodwill 75,547 76,206 Other assets 78,402 76,725 Total assets $ 838,427 $ 875,005 Liabilities, Redeemable noncontrolling interests and Stockholders' deficit Current liabilities: Accounts payable $ 63,731 $ 74,949 Income and other taxes payable 6,810 17,948 Accrued expenses and other current liabilities 149,673 158,167 Current deferred revenue 19,941 20,427 Current finance lease liabilities 7,815 9,029 Current operating lease liabilities 24,874 24,076 Current portion of long-term debt 2,375 — Total current liabilities 275,219 304,596 Deferred revenue 19,011 20,366 Long-term finance lease liabilities 22,382 24,144 Long-term operating lease liabilities 144,569 151,050 Long-term debt, less current portion, net 758,861 757,422 Other long-term liabilities 63,550 60,192 Total liabilities 1,283,592 1,317,770 Redeemable noncontrolling interests 975 851 Stockholders' deficit: Common stock ($ 0.01 par value per share; issued 49,280 at June 30, 2024 and 49,235 at December 31, 2023) 493 492 Additional paid-in capital 446,547 452,290 Accumulated other comprehensive loss ( 7,358 ) ( 7,803 ) Retained earnings 215,800 219,027 Treasury stock ( 16,658 shares at June 30, 2024 and 16,747 shares at December