Filing Flows › Papa Johns International (PZZA) › Q3 2026 › vs Q2 2026
Papa Johns International (PZZA) Q3 2026 vs Q2 2026 (quarter over quarter)
Papa Johns International's revenue fell $27.6M (-6%) from $482M in Q2 2026 to $455M in Q3 2026. The biggest changes: Company-owned restaurant sales −$10.9M (-8%); Commissary revenues −$8.3M (-4%); Advertising funds revenue −$4.7M (-11%). Operating margin 3.1% against 4.8% (-1.7 pts).
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 draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 3.1% | 4.8% | -1.7 pts |
| Net margin | 0.7% | 1.8% | -1.1 pts |
| Free cash flow margin | 2.1% | 3.3% | -1.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Commissary revenues | $222M | $231M | −$8.3M | -4% |
| Company-owned restaurant sales | $131M | $142M | −$10.9M | -8% |
| Franchise royalties and fees | $43.1M | $46.6M | −$3.5M | -7% |
| Advertising funds revenue | $36.7M | $41.4M | −$4.7M | -11% |
| Other revenues | $21.3M | $21.5M | −$137K | -0.6% |
| Revenue | $455M | $482M | −$27.6M | -6% |
| Operating profit | $14.2M | $23.2M | −$9.0M | -39% |
| Costs & expenses | $441M | $459M | −$18.6M | -4% |
| Pre-tax earnings | $4.8M | $13.7M | −$8.8M | -65% |
| Other expense, net | $9.4M | $9.5M | −$120K | -1% |
| Cost of revenue | $329M | $339M | −$10.4M | -3% |
| General & admin | $55.8M | $59.0M | −$3.1M | -5% |
| Other operating costs | $56.2M | $61.2M | −$5.1M | -8% |
| Net earnings | $3.3M | $8.7M | −$5.4M | -62% |
| Income tax | $1.6M | $5.0M | −$3.4M | -69% |
| Operating cash sources | $26.3M | $31.0M | −$4.7M | -15% |
| Depreciation & amortization | $19.2M | $19.2M | −$12K | -0.1% |
| Share-based compensation | $3.8M | $3.1M | $740K | +24% |
| Working capital & other | $3.6M | $2.4M | $1.2M | +51% |
| Operating cash flow | $22.7M | $28.6M | −$5.9M | -21% |
| Free cash flow (OCF − capex) | $9.7M | $15.7M | −$6.0M | -38% |
| Capital expenditures | $13.0M | $12.9M | $46K | +0.4% |
Questions
How much did Papa Johns International's revenue grow quarter over quarter in Q3 2026?
Papa Johns International's revenue fell $27.6M (-6%) from $482M in Q2 2026 to $455M in Q3 2026.
What drove Papa Johns International's revenue change in Q3 2026?
Company-owned restaurant sales −$10.9M (-8%); Commissary revenues −$8.3M (-4%); Advertising funds revenue −$4.7M (-11%).