Papa Johns net income declines to $32.1m in 2025
The drop follows a $41.3m pre-tax gain from the prior year’s QC Centre property sales.
Papa Johns reported a net income of $32.1m for 2025, down from $84.2m in 2024.
The decline was largely due to a $41.3m pre-tax gain from the sale of two QC Centre properties recorded in the prior year.
Total revenue remained flat at $2.1b, with a $30m decline at domestic company-owned restaurants offset by gains in the North America Commissary segment and other business units.
Domestic restaurant revenue fell due to a 3% drop in comparable sales and $19m in impacts from refranchising, including 15 restaurants in Wisconsin.
Global system-wide restaurant sales rose 1% to $4.92b. North America sales fell 1% to $3.6b, whilst international sales grew 8% to $1.3b.
Adjusted EBITDA dropped to $201.1m, driven by higher general and administrative costs, increased marketing and franchise support, management incentives, and the company’s biannual franchisee conference.
Adjusted diluted earnings per share fell to $1.43 from $2.34, reflecting the same factors behind the net income and EBITDA declines.
