PZZA - Papa John's stocks higher on double-digit comp growth

Papa John's (PZZA) +4% premarket on top-line beat and double-digit comp growth in Q3.The company saw Global restaurant sales growth of 21.6% in the quarter.Comparable sales growth: Domestic +18.2%; North America franchised restaurants +25.6%; System-wide North America restaurants +23.8%; System-wide international restaurants +20.7%.“Thanks to our focus on our strategic priorities, our commitment to an innovation mindset, and our dedication to supporting our team members and franchisees, Papa John’s delivered another quarter of outstanding results,” said President & CEO Rob Lynch. “Double-digit comparable sales growth, dramatically higher earnings and robust free cash flow all reflect a winning strategy and execution that have helped us outperform our competition and deliver five straight quarters of same store sales growth.”The board of directors approved a new share repurchase program for up to $75M of the company’s common stock, effective through December 31, 2021.Previously: Papa John's EPS in-line, beats on revenue; new share repurchase program (Nov. 5)

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Papa John's stocks higher on double-digit comp growth