Papa John’s International Inc. PZZA posted a sizable fourth-quarter profit beat Thursday morning, while also exceeding analyst expectations for revenue. The company posted fourth-quarter net income of $23.5 million, or 66 cents a share, down from $24.6 million, or 67 cents a share, in the year-prior period. On an adjusted basis, Papa John’s earned 71 cents a share, down from 75 cents a share a year before but ahead of the 66-cent FactSet consensus. Revenue slipped to $526.2 million from $528.9 million, while analysts were looking for $524.1 million. The company said that revenue would have been up 3% when excluding the impact from refranchising 90 restaurants in the first quarter of 2022. Papa John’s disclosed that North America comparable store sales were up 1% from a year before, while international comparable sales were down 3%.
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