Signage outside a Papa John’s International pizza restaurant in Louisville, Kentucky, on Monday, Feb. 22, 2021.
Luke Sharrett | Bloomberg | Getty Images
Papa John’s on Thursday reported quarterly earnings that missed estimates as higher food costs, a new corporate office and employee bonuses weighed on profits despite high demand for its pizza during the pandemic.
The company’s stock fell more than 7% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 40 cents adjusted vs. 46 cents expected
- Revenue: $469.8 million vs. $467.9 million expected
The pizza chain reported fiscal…