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Papa Johns International (PZZA) guidance and outlook
Papa Johns International (PZZA) lowered its guidance on Nov 5, 2026: EBITDA $180M–$190M for FY2026; Depreciation & amortization $70.0M–$75.0M for FY2026; Interest expense $35.0M–$40.0M for FY2026; Tax rate 30%–34% for FY2026. Papa Johns International's 10-Q filed Nov 5, 2026 makes 26 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | +5% | new |
| Revenue | FY2026 | +8% | new |
| EBITDA | FY2026 | $180M–$190M | lowered |
| Depreciation & amortization | FY2026 | $70.0M–$75.0M | reaffirmed |
| Interest expense | FY2026 | $35.0M–$40.0M | reaffirmed |
| Tax rate | FY2026 | 30%–34% | reaffirmed |
From the earnings release filed Nov 5, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 5, 2026
- We plan to maintain a compelling value proposition while staying true to our premium positioning, which we believe strengthens our barbell strategy.
- Company-owned and franchised restaurants that we expect to replace our existing system.
- We currently expect to fully deploy the new system by the end of 2027.
- As part of our new marketing framework, local Co-op spending will increase to 2% of sales and be required across the system beginning in 2027, in
- We also began work to refine our aggregator channel strategy, which remains an important component of customer acquisition, through a more targeted mix of promotional offers and an ongoing evaluation of our national and local third-party marketing investments.
- These efforts are intended to improve the efficiency of our spending and drive incremental customer trial.
- Our near-term North America plan focuses on priority markets and on improving the quality and profitability of our restaurant portfolio, with fewer new restaurant openings expected in 2026.
- We expect to achieve at least $60 million in North America systemwide supply chain savings by the end of 2028, equating to meaningful restaurant-level margin improvement, while maintaining our commitment to product quality.
- We have captured approximately $23 million of cumulative benefits from these initiatives and are on track to realize at least $25 million of savings by the end of 2026.
- We have agreed with franchisees that the fixed operating margin that Domestic QC Centers charge will be lowered to 4% beginning in 2027.
- We expect this change to improve franchisee restaurant-level margins by approximately 100 basis points and to reduce future North America Commissary revenues.
- As of September 27, 2026, we had also approved the closure of nine additional Company-owned restaurants, the majority of which we expect to close by the end of 2026.
Papa Johns International's latest quarter
Papa Johns International, Q3 2026: revenue $455M (-10% year over year), operating margin 3.1%, net earnings $3.3M, operating cash flow $22.7M. The chart follows the revenue to costs, profit and cash.
Questions
Did Papa Johns International raise or lower its guidance?
Papa Johns International (PZZA) lowered its guidance on Nov 5, 2026: EBITDA $180M–$190M for FY2026; Depreciation & amortization $70.0M–$75.0M for FY2026; Interest expense $35.0M–$40.0M for FY2026; Tax rate 30%–34% for FY2026.
What does Papa Johns International expect?
We plan to maintain a compelling value proposition while staying true to our premium positioning, which we believe strengthens our barbell strategy. Company-owned and franchised restaurants that we expect to replace our existing system. We currently expect to fully deploy the new system by the end of 2027.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.