Papa John's Q1 sales decreased 2.5% YoY to $513.92m, missing consensus, but reported adjusted EPS of 67 cents, beating estimates.

Papa John's Q1 sales fell 2.5% YoY to $513.92m, missing the consensus of $544.45m, but the company reported adjusted EPS of 67 cents, beating the estimated 57 cents. North America comparable sales dropped 2%, while international sales fell 3%. Despite this, the company reported an 10% increase in adjusted operating income of $43m, attributed to improved restaurant-level margins and cost discipline.