Papa Johns cuts 2026 EBITDA outlook to about $175 million as Q3 profit falls
Papa Johns reported third quarter 2026 results, with total revenues of $454.8 million, down 10.5% from the prior year, and diluted earnings per share of $0.09 versus $0.13. The company also lowered its 2026 outlook, now expecting adjusted EBITDA of approximately $175 million, down from $180 million to $190 million, and global system-wide restaurant sales down about 5%, versus a prior decline of 2% to 4%. For shareholders, the weaker sales and lower profit outlook show continued pressure, and the company is funding a new marketing framework that increases local marketing investment by franchisees.
Key points
- Q3 total revenues were $454.8 million versus $508.2 million; net income was $3.3 million versus $4.5 million.
- Q3 adjusted EBITDA was $38.1 million versus $47.8 million; adjusted diluted EPS was $0.16 versus $0.32.
- 2026 adjusted EBITDA guidance is now approximately $175 million, from $180 million to $190 million.
- North America comparable sales fell 8.3% in Q3; full-year North America comparable sales are now expected to decline about 8%.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.