3D rendering of the proposed Port Mackenzie antimony pilot plant.
Nova Minerals Corp (ASX:NVA, NYSE-A:NVA, FRA:QM30) has completed engineering and design work for its fully funded Estelle antimony pilot processing plant in Alaska, clearing the way for construction to begin this quarter.
The plant is designed to produce antimony trisulfide meeting US military-grade specifications through a proprietary hydrometallurgical process, forming an important step in Nova’s strategy to establish an integrated domestic antimony supply chain.
Estelle antimony pilot plant process block flow diagram.
Project moves into execution phase Engineering work covers the Whiskey Bravo front-end processing site, as well as beneficiation, refining and supporting infrastructure at Port MacKenzie Processing Facility.
Whiskey Bravo and Port MacKenzie Steinert ore sorter.
Nova chief executive Christopher Gerteisen said completion of the design represented another major milestone, with the project now entering the execution phase following extensive metallurgical testing and flowsheet development.
“We continue to make rapid progress on the antimony project and remain ahead of schedule, with another major milestone now completed," Gerteisen said.
"The engineering and design plan has been developed based on extensive metallurgical test work and process flowsheet development. With this work complete, and procurement of key equipment now finalised, the project has entered the execution phase."
Ore extraction and plant construction are the next major steps as the company works toward near-term antimony production.
Equipment procurement is already well advanced, with more than 40 containers carrying major plant components on their way to Port MacKenzie.
The company has sourced equipment from a recently decommissioned North American beneficiation circuit, including crushers, a ball mill, screens, flotation cells and conveyors. Ore sorters were acquired new. Nova expects these acquisitions to shorten procurement lead times, improve capital efficiency and accelerate construction readiness.
Port MacKenzie ball mill.
Integrated processing operation Bulk sample material will be collected from the Stibium and Styx prospects within the Estelle Project before being transported to Whiskey Bravo for crushing and initial ore sorting.
Selected material will then be moved to Port MacKenzie for further crushing, beneficiation and refining. The finished antimony trisulfide product will be filtered, dried and packaged for shipment.
The modular plant has also been designed to support future expansion into antimony trioxide and antimony metal production and could eventually process feedstock from other regional and international projects.
You can find more information about the Estelle Gold and Critical Minerals Project through the interactive Vrify 3D animations, presentations and videos, which are all available on the
company’s website. www.novamineralscorp.com
Ora Banda Mining Ltd (ASX:OBM, OTC:ESGFF) has delivered a major expansion of its Davyhurst Gold Project inventory, lifting mineral resources by 75% to 3.69 million ounces and ore reserves by 159% to 610,000 ounces.
The updated mineral resource estimate stands at 56.5 million tonnes at 2.0 g/t gold, while the ore reserve totals 8.4 million tonnes at 2.3 g/t gold, net of 80,000 ounces of mining depletion to April 1, 2026.
Ora Banda said the expanded inventory strengthened the pathway towards a larger and longer-life production base at Davyhurst and supported its ambition to become a more than 300,000-ounce-per-year Australian gold producer.
Round Dam drives resource growth Round Dam was the standout contributor, with its open-pit mineral resource increasing 964% to 25.4 million tonnes at 1.6 g/t for 1.33 million ounces.
Successful exploration and resource definition drilling also supported a maiden Round Dam open-pit reserve of 3.7 million tonnes at 1.9 g/t for 223,000 ounces.
The Waihi open-pit and underground resource increased 114% to 7.3 million tonnes at 2.1 g/t for 482,000 ounces, including a maiden underground reserve of 825,000 tonnes at 3.8 g/t for 101,000 ounces.
Central Davyhurst reserves now total 4.7 million tonnes at 2.2 g/t for 332,000 ounces, comprising Waihi Underground, Waihi Open Pit and Round Dam.
Change to company MRE ounces.
Underground mines add further ounces The Riverina underground resource increased 18% to 8.7 million tonnes at 2.5 g/t for 689,000 ounces, while its reserve rose to 844,000 tonnes at 3.7 g/t for 100,000 ounces.
At Sand King, the underground resource increased 4% to 3.9 million tonnes at 2.9 g/t for 363,000 ounces.
Measured and indicated resources at Sand King rose 27% to 223,000 ounces, while the underground reserve increased 49% to 1.24 million tonnes at 3.2 g/t for 125,000 ounces.
The overall reserve base now includes five principal mining sources: Waihi Underground, Waihi Open Pit, Round Dam Open Pit, Sand King Underground and Riverina Underground, alongside low-grade material and stockpiles.
Exploration investment delivers rapid conversion Ora Banda invested about $75 million in drilling during FY2026, completing more than 310,000 metres of reverse circulation and diamond drilling.
Managing director Luke Creagh described the update as a “step-change result”, saying the program had materially strengthened the Davyhurst production platform.
“Our ability to discover new deposits, develop them into mines and keep growing them in rapid time is setting us apart and gives us a clear line of sight to our goal to become Australia’s next plus 300,000oz gold producer,” he said.
What’s ahead Ora Banda plans a further 340,000 metres of exploration and resource development drilling in FY2027, excluding grade control drilling.
The program will focus on extending known mineralisation at Round Dam, Little Gem and Sand King, while a maiden mineral resource estimate for Little Gem is scheduled for the first half of FY2027.
The S&P/ASX Small Ordinaries Index (ASX:XSO) slipped 25.1 points, or 0.74%, to 3,367.6, extending its five-day decline to 1.68% as weakness across the small-cap sector continued despite a steady stream of positive company announcements.
Even as the broader index retreated, several ASX-listed companies reported significant developments spanning biotechnology, gold exploration, critical minerals and strategic resource expansion, highlighting continued project momentum across the sectors. Among the day's notable announcements, Recce Pharmaceuticals strengthened its global intellectual property portfolio, Astral Resources extended mineralisation beneath its flagship Mandilla Gold Project, Alkane Resources reported encouraging drilling from Brunswick South, Kingfisher Mining delivered more high-grade copper-gold assays near Broken Hill, Nova Minerals advanced its US antimony strategy and Ora Banda Mining unveiled a substantial increase in resources and reserves at Davyhurst. You can read about the following and more throughout the day.
Recce secures Vietnam patent protection Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) has expanded protection for its synthetic anti-infective platform after Vietnam's Intellectual Property Office granted a Family 4 patent valid through to 2041.
The patent covers the manufacture and therapeutic use of RECCE® 327 and RECCE® 529 across a broad range of bacterial and viral infections, including diabetic foot infections, burn wounds, urinary tract infections, influenza and SARS-CoV-2. It also protects multiple delivery methods including oral, inhaled, injectable and topical formulations, further strengthening Recce's commercial position across key international markets.
Astral drilling points to deeper Mandilla growth Astral Resources NL (ASX:AAR) has reported further encouraging diamond drilling results from the Theia Deposit within its 100%-owned Mandilla Gold Project south of Kalgoorlie.
Results from holes AMRCD260 and AMRCD261 continue to demonstrate mineralisation below the existing April 2026 resource model, reinforcing the potential to grow the cornerstone 1.4-million-ounce Theia resource. Standout intercepts included 52.6 metres at 1.48 g/t gold from 389.4 metres, featuring several high-grade intervals above 16 g/t gold.
Alkane extends high-grade Brunswick South mineralisation Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) has completed another 91 drill holes at the Brunswick South deposit at its Costerfield Operation in Victoria, increasing confidence in the continuity of high-grade gold and antimony mineralisation.
The latest drilling has linked recently discovered deeper gold-rich mineralisation with historical workings while continuing to extend the Kiwi Zone at depth. Geological interpretation suggests the mineralised setting shares similarities with the nearby producing Youle deposit, supporting future underground growth opportunities.
Kingfisher delivers more high-grade copper at Copper Blow Kingfisher Mining Ltd (ASX:KFM) has returned some of its strongest copper intercepts to date from reverse circulation drilling at the Copper Blow IOCG prospect near Broken Hill.
Highlights included 26 metres at 2.57% copper and 0.75 g/t gold, including 13 metres at 4.07% copper and 1.20 g/t gold, along with 43 metres at 1.32% copper from surface. Drilling has extended sulphide mineralisation by another 50 metres and continues to demonstrate the project's potential ahead of a maiden mineral resource estimate.
Nova advances integrated US antimony strategy Nova Minerals Corp (ASX: NVA, NYSE-A:NVA, FRA:QM30) has completed engineering and design work for its Estelle antimony pilot processing plant in Alaska, marking another step towards establishing a fully integrated domestic US antimony supply chain.
The fully funded pilot plant has been designed to produce military-grade antimony trisulfide using proprietary hydrometallurgical processing technology. Equipment procurement is already underway, with construction expected to begin this quarter as Nova positions Estelle to become a scalable processing hub for both its own feedstock and third-party material.
Ora Banda grows Davyhurst inventory Ora Banda Mining Ltd (ASX:OBM, OTC:ESGFF, FRA:M6N) has significantly strengthened the resource base underpinning its Davyhurst Gold Project through its latest annual Mineral Resource and Ore Reserve update.
The standout achievement was the delivery of a maiden Mineral Resource exceeding 1.3 million ounces at Round Dam, alongside a maiden Ore Reserve of 223,000 ounces. The additions substantially increase development flexibility across the Davyhurst portfolio while demonstrating the company's ability to rapidly convert exploration success into mineable reserves.
Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) extended high-grade gold and antimony mineralisation at the Brunswick South deposit, strengthening its potential to become a major production source for the Costerfield operation in central Victoria.
Results from 91 additional extension and infill drill holes have confirmed continuity between the deposit’s deeper gold-dominant zone and historical near-surface workings, while identifying further mineralisation along strike and at depth.
Brunswick South sits about 200 metres from planned underground access, allowing Alkane to advance the deposit without extensive new development.
Regional map of the Costerfield Project in GDA2020 grid showing Alkane tenements and the main corridors of mineralisation identified, highlighting the location of the Brunswick South deposit.
High-grade drilling highlights Standout results from the Brunswick South vein included:
50.1 g/t gold and 26.2% antimony over 2.17 metres; 109.9 g/t gold and 3.1% antimony over 0.65 metres; 50.2 g/t gold and 33.3% antimony over 0.86 metres; 39.8 g/t gold and 0.7% antimony over 1.3 metres; and 21.6 g/t gold and 6.7% antimony over 1.65 metres. Drilling also returned 25 g/t gold over 1.7 metres from the deeper Kiwi zone, which is emerging as a gold-dominant area with geological characteristics comparable to the high-grade Youle deposit currently being mined at Costerfield.
The latest campaign comprised 28,421 metres of diamond drilling. Ten intercepts returned grades above 10 g/t gold equivalent when diluted to a 1.8-metre mining width, supporting the economic potential and continuity of the mineralised system.
Two mineralised zones defined Alkane has identified two principal economic areas within Brunswick South.
The first is an upper, high-grade antimony-gold shoot extending from about 80 metres to 280 metres below surface, providing a mineralised panel height of around 200 metres.
The second is a lower, gold-dominant panel below the Penguin Fault and extending into the Kiwi Fault zone, with a strike length approaching 400 metres.
The deposit shows a transition from antimony-rich mineralisation in the upper levels to increasingly gold-dominant mineralisation at depth, a pattern also observed within the Youle-Shepherd system.
A separate parallel structure, known as Brunswick West, has also been identified about 200 metres west of the main deposit. The best result from this target was 8.4 g/t gold and 1.3% antimony over 0.32 metres, with follow-up drilling planned.
Positioned close to existing development Managing director and chief executive officer Nic Earner said the results demonstrated Brunswick South’s potential to provide both high-grade gold and strategically important antimony.
“Focused extension and infill drilling at Brunswick South over the previous year has produced highly encouraging results. This newly defined deposit not only contains pockets of high gold endowment, but critically a significant quantity of antimony,” Earner said.
“Excitingly Brunswick South can be brought online without extensive access requirements as it is situated 200m from existing development. We are commencing development towards Brunswick South in the current quarter and are looking to establish it as a primary production source for Costerfield.”
What’s ahead Capital development to access Brunswick South is scheduled to begin in the third quarter of 2026 and has already been incorporated into the Costerfield mine schedule.
Further drilling will test the Kiwi Fault at depth, the gap between Brunswick and Brunswick South, southern extensions of the mineralised system and the newly identified western structure.
Alkane expects to release an updated Mineral Resource Estimate and an initial Ore Reserve for Brunswick South later this year as part of its broader Resource and Reserves Statement.
Papa John's International Inc (NASDAQ:PZZA) was downgraded to 'Underperform' from 'Neutral' by Bank of America, with analysts citing the company's chief financial officer's departure, persistent competitive pressures and a less optimistic outlook for same-store sales growth (SSSG).
The brokerage lowered its price objective to $34 from $42, in line with current levels, and reduced its earnings forecasts, writing that former CFO Ravi Thanawala's departure "suggests rapid SSSG turn unlikely."
"While former CFO Ravi Thanawala's departure for AEO will allow him to return to his previous industry, we think it's unlikely he would have left his post after less than three years if he believed a sharp turnaround were imminent," the analysts wrote.
"In addition, the disruption that comes with management turnover - particularly at a time when Papa John's is trying to execute a turnaround - may translate into less earnings predictability."
Bank of America also pointed to heightened competition in the pizza segment, arguing that larger operators continue to benefit from greater scale.
The analysts noted that Papa John's reported negative first-quarter 2026 same-store sales growth despite easier year-over-year comparisons, while Domino's Pizza outperformed. They said Domino's larger domestic system sales base provides lower costs and stronger unit economics, supporting investments in customer experience and value.
The firm estimates Domino's average co-op restaurant EBITDA at about $200,000 compared with approximately $140,000 for Papa John's, adding that the difference in franchisee cash flow is likely proportionate.
Bank of America lowered its second quarter North American same-store sales growth forecast to negative 6.7% from negative 6.4%, while reducing its international same-store sales growth estimate to 2.5% from 3.5%. Its adjusted EBITDA forecast was cut to $199 million from $204 million, compared with the company's full-year guidance range of $200 million to $210 million.
The analysts believe that competitive intensity increased further during the second quarter and that high-frequency data indicated Papa John's sales growth remained largely unchanged despite the launch of a Toy Story 5 promotional tie-in in late May.
Explaining the valuation change, Bank of America wrote that it lowered its price objective by applying a lower earnings multiple, while noting valuation multiples across the limited-service restaurant sector have compressed.
The analysts added that the recent sale of Yum Brands' Pizza Hut business also suggests limited upside for Papa John's valuation, concluding they see more near-term upside opportunities elsewhere.
Papa John's International Inc (NASDAQ:PZZA) was downgraded to 'Underperform' from 'Neutral' by Bank of America, with analysts citing the company's chief financial officer's departure, persistent competitive pressures and a less optimistic outlook for same-store sales growth (SSSG).
The brokerage lowered its price objective to $34 from $42, in line with current levels, and reduced its earnings forecasts, writing that former CFO Ravi Thanawala's departure "suggests rapid SSSG turn unlikely."
"While former CFO Ravi Thanawala's departure for AEO will allow him to return to his previous industry, we think it's unlikely he would have left his post after less than three years if he believed a sharp turnaround were imminent," the analysts wrote.
"In addition, the disruption that comes with management turnover - particularly at a time when Papa John's is trying to execute a turnaround - may translate into less earnings predictability."
Bank of America also pointed to heightened competition in the pizza segment, arguing that larger operators continue to benefit from greater scale.
The analysts noted that Papa John's reported negative first-quarter 2026 same-store sales growth despite easier year-over-year comparisons, while Domino's Pizza outperformed. They said Domino's larger domestic system sales base provides lower costs and stronger unit economics, supporting investments in customer experience and value.
The firm estimates Domino's average co-op restaurant EBITDA at about $200,000 compared with approximately $140,000 for Papa John's, adding that the difference in franchisee cash flow is likely proportionate.
Bank of America lowered its second quarter North American same-store sales growth forecast to negative 6.7% from negative 6.4%, while reducing its international same-store sales growth estimate to 2.5% from 3.5%. Its adjusted EBITDA forecast was cut to $199 million from $204 million, compared with the company's full-year guidance range of $200 million to $210 million.
The analysts believe that competitive intensity increased further during the second quarter and that high-frequency data indicated Papa John's sales growth remained largely unchanged despite the launch of a Toy Story 5 promotional tie-in in late May.
Explaining the valuation change, Bank of America wrote that it lowered its price objective by applying a lower earnings multiple, while noting valuation multiples across the limited-service restaurant sector have compressed.
The analysts added that the recent sale of Yum Brands' Pizza Hut business also suggests limited upside for Papa John's valuation, concluding they see more near-term upside opportunities elsewhere.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Considering buying PZZA stock? Here’s what analysts think:
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Pre-Market Stock Futures: Futures are trading lower as we get ready for the start of second-quarter earnings this week, after a solid winning week on Wall Street. Renewed strikes against Iran and a chip sell-off are weighing on shares on Monday. All of the major indices closed higher on Friday, except the small-cap Russell 2000, which finished down 0.43% at 2,979. The S&P 500 finished a strong week, closing at 7,575, up 0.42%, while the tech-heavy Nasdaq was last seen at 26,281, up 0.29%. The legacy Dow Jones Industrials finished at 52,637, up 0.29%.
Friday saw the debut of Korean semiconductor giant SK hynix (NASDAQ: SKYH), which has been on fire as memory demand has exploded, driven by AI. Shares finished the day up 12.76% at $168.01. The company’s massive U.S. share debut is officially the largest equity share sale by a foreign company in U.S. history, raising almost $26.5 billion, officially eclipsing Alibaba’s (NYSE: BABA | BABA Price Prediction) $25 billion U.S. debut in 2014.
Treasury Bonds: The sellers returned to the Treasury complex as yields rose across the entire curve, with the combination of the ongoing situation with Iran and worries over the federal deficit, which has soared, the main factors behind Friday’s weakness. The ballooning U.S. budget deficits and massive government debt auctions pushed yields higher, as investors demanded higher returns to absorb the large supply coming to market. When the final bell rang, the 30-year Treasury bond closed the session at 5.06%, while the benchmark 10-year note was last seen at 4.56%.
Oil and Gas: After jumping higher on the renewal of air strikes on Iran, oil prices were moderately lower on Friday as the President said that while the ceasefire has been suspended, peace talks are ongoing. Numerous articles over the last few weeks have stressed that many oil-producing Middle Eastern nations are seeking alternative routes to ship their production and avoid the Strait of Hormuz altogether. When the market closed on Friday, Brent Crude was down 0.39% at $76, while West Texas Intermediate was down 0.72% at $71.56. Natural gas, which had a bigger-than-expected inventory build last week, closed Friday at $2.94, down 2.46%.
Gold: After a volatile week, Gold and Silver finished Friday somewhat quietly. The second quarter of 2026 was the worst quarter for Gold since 2013, down 13%; however, many on Wall Street feel that after the strong rally over the last two years, a consolidation period was inevitable. That being said, many also think this is a chance for investors who may have been waiting to start initiating positions to get involved. For pure gold exposure, we have always felt the SPDR Gold Shares ETF (NYSE: GLD) is the best route. Gold closed Friday at $4,119, down just 0.08%, while Silver ended at $59.76, down 0.12%.
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Crypto: Cryptocurrency markets surged on Friday, with Bitcoin breaking above $64,500 and fully recovering its earlier weekly losses. The broader crypto market rose about 1.4%, as Ethereum approached $1,800, while XRP and Solana also posted strong gains. The rebound was primarily fueled by easing geopolitical tensions in the Middle East.
Crypto-related stocks followed suit with a sharp rally, led by Circle Internet Group (NYSE: CRCL), which jumped nearly 15% after receiving approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank. At 8 AM EDT, Bitcoin was trading at $62,900, while Ethereum was last quoted at $1,781.
24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. It is important to remember that no single analyst report should ever be the sole basis for buying or selling a stock.
Here are some of the best Wall Street analyst upgrades, downgrades, and initiations seen on Monday, July 13, 2026.
Upgrades: BeOne Medicines (NASDAQ: ONC) was upgraded to Buy from Hold at Jefferies, which boosted the target price to $380 from $333. Biogen (NASDAQ: BIIB) was upgraded to Buy from Hold at Truist Financial, with a $235 target price objective. Capital One (NYSE: COF) was raised to Buy from Hold at HSBC, with a $229 target price. Deckers Outdoor (NYSE: DECK) was upgraded to Buy from Hold at Jefferies, which raised the price target for the popular retailer to $130 from $110. Shopify (NASDAQ: SHOP) was upgraded to Buy from Hold at Jefferies, which moved the target price for the shares to $160 from $140. Downgrades: Best Buy Co (NYSE: BBY) was cut to Hold from Buy at Loop Capital, with an unchanged $82 target price. Kymera Therapeutics (NASDAQ: KYMR) was cut to Sector Perform from Outperform at RBC Capital, which bumped the target price up to $115 from $106. Resmed (NYSE: RMD) was downgraded to Neutral from Buy at Citigroup, which cut the target price for the stock to $235 from $270. Papa John’s International (NASDAQ: PZZA) was downgraded to Underperform from Neutral at Bank of America, which trimmed the target price for the pizza giant to $34 from $42. Sezzle (NASDAQ: SEZL) was downgraded to Market Perform from Outperform at Keefe Bruyette, which raised the price target for the shares to $190 from $115. Initiations: Atmos Energy (NYSE: ATO) was initiated with an Overweight rating at Wells Fargo, which has set a $200 target price. BelFuse (NASDAQ: BELFA) was initiated with a Buy rating at Citigroup, with a $325 target price. Costco Wholesale (NASDAQ: COST) was started with a Sector Perform rating at RBC Capital, which has a $1,000 target for the big-box retail giant. Fastenal Company (NASDAQ: FAST) was initiated with a Buy rating at Rothschild & Co Redburn, with a $55 target price. Walt Disney (NYSE: DIS) was started with a Buy rating at Benchmark, with a $115 target price objective for the entertainment behemoth.
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Participants on the call will include Todd Penegor, President and Chief Executive Officer, Chris Collins, interim Chief Financial Officer, SVP, Corporate Finance and Principal Accounting Officer, and Heather Hollander, SVP Strategy, Investor Relations, and Financial Planning and Analysis.
To listen to the webcast, participants should register online at https://ir.papajohns.com/news-events/ir-calendar. Participants are requested to register a day in advance or at least a minimum 15 minutes before the start of the call. A replay of the webcast will be available approximately two hours after the call and archived on the same web page.
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the company or to order pizza online, visit www.PapaJohns.com or download the Papa Johns mobile app for iOS or Android.
Chris Collins, SVP, Corporate Finance and Principal Accounting Officer, Appointed Interim CFO
LOUISVILLE, Ky.--(BUSINESS WIRE)--Papa John’s International, Inc. (Nasdaq: PZZA) (“Papa Johns”) (the “Company”) today announced that Chris Collins, Senior Vice President of Corporate Finance and Principal Accounting Officer, has been appointed to the additional position of interim Chief Financial Officer, effective immediately. Collins succeeds Ravi Thanawala, who is leaving Papa Johns to assume a chief financial officer position at another public company. Thanawala will be available to Papa Johns in an advisory capacity until July 31, 2026, to support a smooth transition. Papa Johns has commenced a search for a permanent Chief Financial Officer.
Collins is a seasoned finance professional with more than 30 years of experience leading finance functions at public companies in the United States and internationally. He joined Papa Johns as Vice President, Treasury and Tax in April 2021 and previously served as the Company’s interim Chief Financial Officer and Principal Accounting Officer from March 2023 until July 2023. From July 2023 to July 2025, Collins served as Vice President of Finance - Treasury, Tax, and International Business Segment. He was appointed Senior Vice President of Corporate Finance and Principal Accounting Officer in July 2025. Prior to joining Papa Johns, Collins served as the Vice President, Treasury at Signet Jewelers from 2019 until 2020. Prior to 2019, he held several financial leadership roles with The Goodyear Tire & Rubber Company in the United States and Europe, and with American Axle & Manufacturing.
“Chris is a proven finance leader with deep knowledge of the Company and the opportunities we are pursuing to maximize shareholder value and position Papa Johns for its greatest success as the best pizza makers in the business,” said Todd Penegor, President and Chief Executive Officer of Papa Johns. “I am confident that Chris’s support in this interim role along with our talented team will enable continued execution on our transformation priorities.”
“I look forward to working closely with Todd and the Papa Johns Executive Leadership Team to further drive operating efficiencies, optimize the Company’s fleet and strengthen the Papa Johns brand,” said Chris Collins.
Penegor continued, “On behalf of the Papa Johns team, I want to thank Ravi for his leadership and contributions to the Company. He has been a valued colleague, and we wish him all the best in his next chapter.”
In connection with Thanawala’s departure, Marc Richard, Senior Vice President of North America Operations, has assumed responsibility for all North America operations, including those previously overseen by Thanawala in his role as President.
Separately, Papa Johns will release its second quarter financial results before the market opens on Thursday, August 6, 2026, with a conference call to follow at 8:00 a.m. ET.
Participants on the call will include Todd Penegor, President and Chief Executive Officer, Chris Collins, interim Chief Financial Officer, Senior Vice President of Corporate Finance and Principal Accounting Officer, and Heather Hollander, SVP Strategy, Investor Relations, and Financial Planning and Analysis.
To listen to the webcast, participants should register online at https://ir.papajohns.com/news-events/ir-calendar. Participants are requested to register a day in advance or at least a minimum 15 minutes before the start of the call. A replay of the webcast will be available approximately two hours after the call and archived on the same web page.
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the Company or to order pizza online, visit www.papajohns.com or download the Papa Johns mobile app for iOS or Android.
Forward-Looking Statements
Certain matters discussed in this press release and other Company communications that are not statements of historical fact constitute forward-looking statements within the meaning of the federal securities laws. Generally, the use of words such as “expect,” “intend,” “estimate,” “believe,” “anticipate,” “will,” “forecast,” “outlook”, “plan,” “project,” or similar words identify forward-looking statements that we intend to be included within the safe harbor protections provided by the federal securities laws. Such forward-looking statements include or may relate to business and operational performance, profit margins, net unit growth, unit level performance, capital expenditures, restaurant and franchise development, franchisee relations, International business initiatives, executive leadership changes, the effectiveness of our transformation strategy and other business initiatives, investments in technology and other opportunities, marketing efforts and investments, liquidity, operating efficiencies and the results of our strategic decisions and actions. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control. Therefore, actual outcomes and results may differ materially from those matters expressed or implied in such forward-looking statements.
Our forward-looking statements are based on our assumptions which are based on currently available information. Actual outcomes and results may differ materially from those matters expressed or implied in our forward-looking statements as a result of various factors, including the risks, uncertainties and assumptions discussed in detail in “Part I. Item 1A. – Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025. We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise, except as required by law.
PZZA stock is down. See the chart and price action here. The search for a replacement is underway and the company noted that Thanawala will remain in an advisory role through July 31, 2026. This transition period provides some reassurance, as it allows for knowledge transfer and operational stability.
However, the absence of a permanent successor adds pressure, and investors often prefer immediate clarity on leadership succession.
Market reaction will likely hinge on how quickly Papa John’s fills the role and the credentials of the incoming executive. Until then, short-term volatility in the stock may persist as investors reassess risk tied to leadership change.
PZZA Stock Price Activity: Papa John’s shares were down 5.11% at $34.89 during after-hours trading on Tuesday, according to Benzinga Pro data.
Over the past month, Papa John’s has gained about 1.7% versus a 1.1% decline in the S&P 500 and is down roughly 5% year-to-date compared to the index’s 8.9% gain.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Papa Johns Canada and CHL honour Kamloops goaltender Griffin Seafoot June 16, 2026 07:30 ET | Source: Papa John's International, Inc.
EDMONTON, Alberta, June 16, 2026 (GLOBE NEWSWIRE) -- Papa Johns Canada and the Canadian Hockey League (CHL) proudly announced Griffin Seafoot of Kamloops, British Columbia, as the recipient of the Champions of Tomorrow Scholarship during the championship game of the 2026 Memorial Cup presented by Kubota on May 31.
Seafoot was honoured on ice and awarded the $25,000 scholarship.
A goaltender from Kamloops, Seafoot has built an impressive record in hockey, academics, and community service. He maintains an A average while mentoring younger players and supporting local minor hockey programs. At just 12 years old, he launched a school food drive that has since grown into a district-wide initiative, collecting more than 10,000 pounds of food over the past four years.
Seafoot was also recently accepted into Shad Canada, one of Canada's leading youth leadership and STEM programs, where he will attend this summer at St. Francis Xavier University. He hopes to study engineering at the University of Waterloo.
"It's incredibly rewarding to recognize Griffin on a stage as significant as the Memorial Cup," said Scott Lewis, General Manager, International Markets at Papa Johns Canada. "The Champions of Tomorrow Scholarship was created to celebrate young people who are making a difference in their communities, and we're proud to celebrate Griffin as this year's recipient."
“Griffin represents exactly what the Champions of Tomorrow Scholarship is all about,” said Ryan Hudecki, Vice-President of Partnerships for the CHL. “To recognize him during the Memorial Cup made the moment even more special, as the tournament brings together the best of junior hockey while also celebrating the positive impact the game can have in communities across the country.”
The Champions of Tomorrow Scholarship reflects the shared commitment of Papa Johns Canada and the CHL to celebrate young Canadians whose leadership extends beyond the game and into their schools, communities, and everyday lives.
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the Company or to order pizza online, visit www.papajohns.ca or download the Papa Johns mobile app for iOS or Android.
About the CHL
The Canadian Hockey League (CHL) is the world’s largest development hockey league with 52 Canadian and nine American teams participating in the Western Hockey League (WHL), Ontario Hockey League (OHL), and Quebec Maritimes Junior Hockey League (QMJHL). The CHL supplies more players to the National Hockey League (NHL) and U SPORTS than any other league. During the 2025-26 season, of the more than 1,033 players who played a game in the NHL, over 475 came through the CHL. At the 2025 NHL Draft, 90 CHL players were selected, including 21 in the first round. For more information regarding the CHL, please visit chl.ca.
Media – Papa Johns:
Michelle Philippe
Communications Manager, Brand PR & Campaigns
Papa John’s International [email protected]
Media – CHL:
Christopher Séguin
Media Relations Manager
Canadian Hockey League [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/12341d0d-64f3-47ad-8c7a-37f3fcb07fc4
Papa Johns Canada and CHL honour Kamloops goaltender Griffin Seafoot Kamloops Student-Athlete Awarded $25,000 Champions of Tomorrow Scholarship at Memorial Cup. Papa Joh...
Key Takeaways McDonald's Q1 likely saw gains from value meals, menu innovation and pricing, despite weather hit.Shake Shack sales likely rose on menu innovation and openings, but margins faced cost pressures.Papa John's growth tied to promotions and digital strength, with weak North America trends weighing. The restaurant industry’s top line in first-quarter 2026 likely benefited from steady consumer demand for convenience-driven dining, particularly across quick-service and fast-casual segments. Value meals, limited-time offers and menu innovation likely helped sustain traffic, even as consumers remained selective with discretionary spending. Digital ordering channels and delivery platforms continued to support sales growth, while loyalty programs are likely to have enhanced repeat visits. Additionally, improving mobility and a gradual normalization of workplace routines in many regions might have supported dine-in occasions, especially during weekdays.
Another key contributor to revenue growth in the quarter is likely to have been pricing. Menu prices, which were raised over the past year to offset inflation, are likely to have remained elevated, driving higher average ticket sizes. Many operators also leaned into premium offerings and combo deals to boost per-customer spending. International markets might have provided an added lift, supported by stable demand trends and improved travel activity in certain regions. Overall, a mix of stable traffic and pricing carryover is likely to have helped sustain industry-wide revenue growth in the quarter.
On the bottom line, easing commodity inflation, particularly in select food inputs, is likely to have provided some margin relief in first-quarter 2026. Restaurants also continued to focus on cost discipline through simplified menus, improved labor scheduling and greater use of technology to enhance efficiency. These measures, combined with prior pricing actions, are likely to have helped offset still-high wage costs. Larger players, in particular, might have benefited from scale efficiencies and stronger supply-chain management, supporting profitability.
That said, some pressures are likely to have remained in the quarter. Consumer spending among lower-income groups might have stayed constrained, impacting traffic in certain segments. Labor and occupancy costs are likely to have remained elevated, while increased discounting and promotional activity to drive demand might have weighed on margins for some operators.
Companies in the broader Retail-Wholesale sector, such as McDonald's Corporation (MCD - Free Report) , Shake Shack Inc. (SHAK - Free Report) and Papa John's International, Inc. (PZZA - Free Report) , are set to report their first-quarter earnings on May 7.
Sneak Peek Into Upcoming Earnings ReleasesAmid a number of stocks, to identify those with the potential to beat earnings estimates, the following Zacks methodology can be used. The Zacks model suggests that a company needs to have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) — to increase the odds of an earnings beat. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
McDonald's is scheduled to report first-quarter 2026 before the opening bell.
The company’s first-quarter performance is likely to have benefited from continued traction in value offerings, marketing initiatives and menu innovation. In the United States, McValue and the relaunch of Extra Value Meals are likely to have aided first-quarter performance. Management noted that McValue remains the foundation of its 2026 value strategy, while Extra Value Meals continued to support value and affordability perceptions. Momentum from nationally price-pointed offerings, including the $5 Sausage McMuffin with Egg meal and the $8 two-Snack Wrap meal in January, is expected to have supported traffic in the to-be-reported quarter.
International markets are likely to have remained supportive, albeit with some moderation. Management cited solid January momentum in International Operated Markets, backed by value, menu and marketing execution. However, growth is likely to have decelerated sequentially due to weather-related pressures across several European markets. Our model predicts first-quarter revenues from total international operated markets to rise 5.8% year over year to $3 billion.
However, weather disruption is expected to have hurt first-quarter sales. Management stated that severe weather in the United States beginning in late January pressured industry traffic, affected McDonald’s traffic and led several restaurants to close or reduce hours. The company estimated the weather impact at about 100 basis points for the full quarter.
The Zacks Consensus Estimate for MCD’s first-quarter 2026 revenues is pegged at $6.49 billion, indicating growth of 8.9% from the year-ago figure. Earnings per share (EPS) are pegged at $2.75, indicating growth of 3% from $2.67 reported in the year-ago quarter.
The company has an Earnings ESP of -0.44% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shake Shack is scheduled to report results before the opening bell.
The company’s top line is likely to have benefited from menu innovation and store openings. An emphasis on digital initiatives and licensed business bodes well. Marketing efforts aimed at increasing brand awareness are also likely to have supported sales momentum.
However, bottom-line performance is likely to have been pressured by elevated input costs, particularly in beef, alongside continued investments in marketing, digital capabilities and infrastructure. Higher labor and administrative expenses, along with potential weather-related disruptions in key regions, might have further weighed on margins despite steady revenue growth.
The Zacks Consensus Estimate for SHAK’s first-quarter 2026 revenues is pegged at $371.4 million, indicating growth of 15.8% from the year-ago figure. Earnings per share are pegged at 11 cents, indicating a decline of 21.4% from 14 cents reported in the year-ago quarter.
The company has an Earnings ESP of +19.41% and a Zacks Rank #3.
Papa John's is scheduled to report results before the opening bell.
For first-quarter 2026, Papa John's is likely to have benefited from strong brand-building initiatives, targeted value promotions and robust digital engagement through its loyalty program. Continued product innovation and technology upgrades that improved ordering convenience are likely to have supported traffic and customer frequency. Additionally, solid international momentum and unit expansion are likely to have provided some support to overall revenues.
However, performance is likely to have been pressured by weak North America trends amid a cautious consumer environment. Elevated promotional intensity, lower transaction volumes and a shift toward value offerings are likely to have weighed on comparable sales and margins.
The Zacks Consensus Estimate for PZZA’s first-quarter 2026 revenues is pegged at $483.5 million, indicating a decline of 6.7% from the year-ago figure. Earnings per share are pegged at 40 cents, indicating growth of 11.1% from 36 cents reported in the year-ago quarter.
The company has an Earnings ESP of -10.31% and a Zacks Rank #3.
Papa Johns logo appears in this illustration taken August 25, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
May 7 (Reuters) - Papa John's International (PZZA.O), opens new tab missed expectations for first-quarter revenue and profit on Thursday as the pizza chain failed to draw diners, especially in its U.S. market, at a time when consumers struggle with high living costs.
Shares of the company fell about 4% in premarket trading.
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including McDonald's (MCD.N), opens new tab and Domino's (DPZ.O), opens new tab reported weaker quarterly sales growth, citing a hit to customer spending from soaring gasoline prices driven by the Iran war.
North America comparable sales, which include franchise and company-owned restaurants open for at least a year, fell 6.4% for the third consecutive quarter.
The company is navigating a cautious consumer environment and promotional quick-service restaurant marketplace, CEO Todd Penegor said.
Quarterly revenue fell 7.7% to $478.6 million, compared with analysts' average estimate of $485.7 million, according to data compiled by LSEG.
The company reported adjusted earnings of 32 cents per share, compared with analysts' estimate of 35 cents per share.
It also reiterated its annual forecasts.
The results come amid Irth Capital's offer to pay $47 a share to buy Papa John's International in March, valuing the pizza chain at $1.5 billion, in a second attempt after it tried to buy the pizza chain alongside Apollo Global Management last year, according to a Reuters report.
Reporting by Krisha Bhatt in Bengaluru; Editing by Pooja Desai
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Papa John's (PZZA - Free Report) came out with quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of $0.4 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -20.28%. A quarter ago, it was expected that this pizza chain would post earnings of $0.33 per share when it actually produced earnings of $0.34, delivering a surprise of +3.03%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Papa John's, which belongs to the Zacks Retail - Restaurants industry, posted revenues of $478.61 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 1.01%. This compares to year-ago revenues of $518.31 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Papa John's shares have lost about 12.2% since the beginning of the year versus the S&P 500's gain of 7.6%.
What's Next for Papa John's?While Papa John's has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Papa John's was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.41 on $488.8 million in revenues for the coming quarter and $1.53 on $1.92 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Restaurants is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Red Robin (RRGB - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 19.
This casual restaurant chain is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +10.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Red Robin's revenues are expected to be $378.16 million, down 3.6% from the year-ago quarter.
Papa John's International said budget-conscious customers have traded down to smaller pizzas and passed on sides and desserts in the latest quarter, weighing on sales and profit.
For the quarter ended March 2026, Papa John's (PZZA - Free Report) reported revenue of $478.61 million, down 7.7% over the same period last year. EPS came in at $0.32, compared to $0.36 in the year-ago quarter.
The reported revenue represents a surprise of -1.01% over the Zacks Consensus Estimate of $483.48 million. With the consensus EPS estimate being $0.40, the EPS surprise was -20.28%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Papa John's performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Number of Restaurants - System-wide: 6,020 versus 6,035 estimated by five analysts on average.Number of Restaurants - Total Franchised(Franchised North America+International Franchised): 5,550 versus the five-analyst average estimate of 5,561.Number of Restaurants - Franchised North America: 3,030 compared to the 3,020 average estimate based on five analysts.Number of Restaurants - Papa John's - Company-owned - Domestic: 457 versus the five-analyst average estimate of 463.Number of Restaurants - International Franchised: 2,520 compared to the 2,542 average estimate based on five analysts.Number of Restaurants - International: 2,533 versus the four-analyst average estimate of 2,552.Number of Restaurants - Total North America: 3,487 compared to the 3,481 average estimate based on four analysts.Revenues- Franchise royalties and fees: $47.58 million versus $47.34 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1% change.Revenues- Advertising funds revenue: $43.47 million versus $41.68 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.5% change.Revenues- Other revenues: $21.79 million compared to the $22.69 million average estimate based on five analysts. The reported number represents a change of -8.3% year over year.Revenues- Commissary revenues: $222.64 million versus the five-analyst average estimate of $226.6 million. The reported number represents a year-over-year change of -2.8%.Revenues- Company-owned restaurant sales: $143.13 million compared to the $145.62 million average estimate based on five analysts. The reported number represents a change of -17.7% year over year.View all Key Company Metrics for Papa John's here>>>
Shares of Papa John's have returned -4.5% over the past month versus the Zacks S&P 500 composite's +11.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Published in earnings earnings-estimates-revisions earnings-surprise
ATLANTA--(BUSINESS WIRE)--As recent airline uncertainty has left many travelers clutching expired boarding passes and loyalty points that were rendered useless, Papa Johns is offering a soft landing. Introducing Skies to Pies, a limited‑time offer that transforms Spirit Airlines' unusable loyalty program into something reliable: hot Papa Johns pizza. “Loyalty points don't mean much if you can't use them,” said Shivram Vaideeswaran, SVP of Brand Marketing at Papa Johns. “While we can't fix cance.
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With the heights of earnings season finally past, investors and analysts are turning to analyzing what the first-quarter results say about the market and the economy. Chief among these messages? Most of the major tech companies involved in artificial intelligence (AI) are still firing on all cylinders.
However, evidence of the so-called "K"-shaped economy continues to mount. Subprime credit card specialist Capital One Financial's (COF 0.06%) Q1 earnings miss, for example, suggests that the average consumer is under increasing financial strain.
And it's not just Capital One saying it.
Image source: Getty Images.
Red flags for some Capital One turned $15.2 billion in revenue into an adjusted per-share profit of $4.42 during the three months ending in March, down 2% from the year-earlier top line, when the company reported earnings of $4.06 per share. Worse, analysts were expecting sales of $15.4 billion and a bottom line of $4.55 per share.
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Perhaps the real red flag in Capital One's Q1 numbers, however, is the portion of its loan portfolio that the company expects to sour. The credit card issuer's loan-loss provision came in at $4.07 billion versus estimates of only $3.77 billion, well up from the year-ago comparison of $2.37 billion. Charge-offs also jumped from $2.74 billion in Q1 2025 to $3.85 billion for the first quarter of this year.
Cardholders are spending more, but even more of this spending is ultimately turning into bad debt.
Body of evidence If this had been just a one-time stumble from only Capital One, it might be dismissible.
It's not just a one-off, though. This is the second consecutive quarter that Capital One missed analysts' earnings expectations. Pizza powerhouse Papa John's (PZZA +0.37%) also missed last quarter's revenue and earnings estimates, with a domestic same-store sales dip of 6.4% indicating that not even the usually resilient pizza business is immune to the economy's current challenges.
Although it topped last quarter's expectations, McDonald's (MCD +0.43%) relied heavily on its value meals during this stretch. CEO Chris Kempczinski made a point of saying that the current economic backdrop is "certainly not improving," adding that "it may be getting a little bit worse."
We're seeing the same message in other areas, too. Credit bureau TransUnion, for instance, reports that the number of credit card holders 90 or more days late on their payments inched up to nearly a two-year high of 2.53% in Q1. That's still not catastrophic. But, with total credit card balances at a record high of $1.12 trillion at a time when average per-borrower credit card balances have grown for four consecutive years, consumers are arguably at their breaking point.
Not all, but enough It's not every consumer, for the record. Rival card company American Express (AXP +0.35%) reported 15% earnings growth on a 9% improvement in last quarter's billed business. This is largely because it serves more affluent consumers who remain in a position to spend more, and to service their debts. Notably, AmEx's loss provisions aren't suddenly soaring.
Just don't lose sight of the bigger picture. All businesses eventually sell goods and services to consumers, or sell goods and services to consumer-facing companies. If enough consumers are sidelined, it will affect all corporations' top and bottom lines sooner or later.
American Express is an advertising partner of Motley Fool Money. James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends American Express. The Motley Fool recommends Capital One Financial and recommends the following options: long January 2028 $320 calls on McDonald's and short January 2028 $340 calls on McDonald's. The Motley Fool has a disclosure policy.
ATLANTA--(BUSINESS WIRE)--For the first time, Papa Johns is bringing the flavors of its iconic Special Garlic Dipping Sauce to grocery stores nationwide with the debut of Papa Johns Garlic Flavored Sauce. Beloved, endlessly talked about, and the must‑have part of every Papa Johns order, Papa Johns' Special Garlic Dipping Sauce has achieved cult‑favorite status among fans who have spent years asking for a way to enjoy that unmistakable garlicky, buttery flavor beyond the pizza box. Now, Papa Joh.
Investment firm Irth Capital is working with Papa John's International's largest U.S. franchisee, who controls around 10% of the pizza chain's domestic restaurants, to take the company private, three sources told Reuters.
EDMONTON, Alberta, May 27, 2026 (GLOBE NEWSWIRE) -- For 30 years, Toy Story has sparked laughter, adventure and imagination, with the shared joy of pizza never far from the celebration. That sense of wonder comes full circle today as Papa Johns teams-up with Disney and Pixar for Toy Story 5 – hitting theatres June 19 – for a global collaboration inspired by the all-new movie and the universal language of great pizza.
A first for the franchise, Papa Johns brings its commitment to quality ingredients together with the imagination and heart that has defined Toy Story for decades. “This collaboration unites two iconic brands rooted in quality, creativity and bringing people together,” said Jenna Bromberg, Chief Marketing Officer, Papa Johns. “The joy and imagination of Toy Story, combined with our commitment to great pizza is an authentic way for us to create something special – and delicious – for our fans.”
“Toy Story is one of the most globally loved franchises of all time, and pizza has a unique way of bringing people together across cultures,” said Chris Lyn-Sue, SVP, General Manager of International at Papa Johns. “In the first pizza collaboration for a Toy Story movie release, we’re celebrating Toy Story 5 across multiple markets, making this one of our biggest international collaborations to date.”
“Toy Story is beloved by generations, and our all-new movie Toy Story 5 continues the legacy in a fresh and exciting way” said Lylle Breier, EVP, Partnerships, Promotions, Synergy & Events at The Walt Disney Studios. “We are thrilled to collaborate with Papa Johns and bring Toy Story to fans in a whole new flavour – literally. Our collaboration is the perfect blend of comfort, nostalgia and something refreshingly new, taking the celebration to infinity and beyond.”
The Canadian program includes Toy Story 5 personal pizzas, limited-edition collectibles featuring Woody, Buzz Lightyear and Jessie, and an in-app game. The campaign will also feature a special custom-animated spot produced by Pixar Animation Studios. The full spot will launch June 1st, with a sneak peek available on Papa Johns Canada social channels.
The Toy Story 5 personal pizzas are all made with Papa Johns original dough which has six simple ingredients and no artificial flavours or colours.
The personal pizza lineup includes:
Space Ranger Roni: made with Papa Johns signature pizza sauce, real cheese made from mozzarella and double pepperoniSheriff’s Round Up: made with smoky Southern-style barbecue sauce, real cheese made from mozzarella, grilled chicken and onionsReach for the Pie: made with Papa Johns signature pizza sauce, real cheese made from mozzarella, Italian sausage and banana peppers Toy Story 5 collectibles (Woody, Buzz Lightyear and Jessie characters) available for eligible pizza purchases, while supplies last.
The Toy Story 5 personal pizzas are available across Canada starting at $9.99 when you order two or more from June 1 to July 19, 2026, and 42 international markets for a limited time.
For more information or to order, visit PapaJohns.ca or go to the Papa Johns app.
ABOUT PAPA JOHNS
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavours and synthetic colours from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the Company or to order pizza online, visit www.papajohns.ca or download the Papa Johns mobile app for iOS or Android.
ABOUT DISNEY AND PIXAR’S TOY STORY 5
The toys are back in Disney and Pixar’s Toy Story 5, and this time it’s Toy meets Tech. Woody (voice of Tom Hanks), Buzz Lightyear (voice of Tim Allen), Jessie (voice of Joan Cusack) and the rest of the gang's jobs are challenged when they come face-to-face with Lilypad (voice of Greta Lee), a brand-new tablet device that arrives with her own disruptive ideas about what is best for their kid, Bonnie. Will playtime ever be the same? Toy Story 5 is directed by Academy Award® winner Andrew Stanton, co-directed by Kenna Harris, produced by Lindsey Collins and features an original score by Oscar® winner Randy Newman, who returns to score his fifth Toy Story feature. The film releases exclusively in theatres June 19, 2026.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68fccd3f-7fc8-4533-9988-781ccf26da19
Papa Johns Teams Up with Disney and Pixar for the Release of Toy Story 5 The Canadian program includes Toy Story 5 personal pizzas, limited-edition collectibles featuring Wo...
Papa Johns today announced the launch of four Papa Johns Pizza Planet experiences as part of their global collaboration celebrating Disney and Pixar’s upcoming June 19 theatrical release, Toy Story 5. Inspired by the legendary sci‑fi pizzeria first introduced in Toy Story in 1995, the activations reimagine the setting for today — bringing a familiar fan-favorite location off the big screen and into the real world.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260527093027/en/
Rendering of the Papa Johns Pizza Planet in Los Angeles
Opening on select dates throughout June across major cities including London, Seoul, Madrid and Los Angeles, each Papa Johns Pizza Planet pop-up will fully transport fans into the Toy Story universe, featuring all the elements synonymous with the iconic movie series. Designed as retro‑inspired pizza arcades, the spaces invite fans to step into an immersive world shaped by playtime and imagination as they reconnect over pizza.
The experiences will feature limited‑time‑only Toy Story 5 pizzas - Space Ranger Roni, Sheriff’s Roundup and Reach for the Pie - alongside exclusive packaging, collectibles, and merch created for pizza lovers and Toy Story fans alike. Guests can expect surprises around every corner, with gifting from adidas, Belkin and more up for grabs through giveaways.
For fans who can’t make it to a Papa Johns Pizza Planet, the adventure continues in Papa Johns restaurants and on the app around the world. From May 26 to July 19, Papa Johns will offer this limited‑edition Toy Story 5 menu globally, giving fans everywhere the chance to relive the magic. Papa Johns is also launching the first ever in-app game, Operation Pizza, that unlocks Papa Rewards perks for Papa Rewards members. The game will be available only in the U.S. to Papa Rewards members for one month, starting June 1, 2026.
Jenna Bromberg, Chief Marketing Officer at Papa Johns, said: “For so many, movie nights and pizza nights are one and the same and Toy Story has been a part of that experience for three decades — at the movie theater or around the table, sharing stories and slices. Bringing Papa Johns Pizza Planet to life lets us celebrate those moments, past and present, and recreate the feeling of coming together as a family over something familiar, comforting and fun.”
Chris Lyn‑Sue, SVP, General Manager of International at Papa Johns, added: “Toy Story is a franchise that has spanned generations, continuing to hold a special place in people’s hearts around the world — much like pizza does around the table. Papa Johns Pizza Planet is a place many fans will recognize and feel a connection. Bringing it to life today allows fans — old and new — to sit down, enjoy great pizza and make new memories together.”
“As excitement builds for the release of Toy Story 5, we’re thrilled to collaborate with Papa Johns on a campaign that brings this iconic experience off the big screen and into fans’ everyday lives,” said Lylle Breier, EVP, Partnerships & Events at The Walt Disney Studios. “Toy Story has always been about friendship, imagination, and the moments we share together, and Papa Johns Pizza Planet pop -ups give fans a chance to step inside that world and create new memories together.”
Fans can head to their local Papa Johns to find out more about the Toy Story 5 menus on offer and visit the links below for information Papa Johns Pizza Planet in their region:
Los Angeles:
8180 Melrose Ave., Los Angeles, CA 90046
June 12, 2026 12 p.m. – 7 p.m. local time Reserve your timed ticket here – tickets available starting Friday May 29 12p.m. ESTLondon:
471-473 The Arches, Dereham Place, London EC2A 3HJ, England
June 13 and 14, 2026 Noon – 8 p.m. local time Reserve your timed ticket hereSeoul:
72 Seongsu-ro, Seongdong-gu, Seoul, South Korea
June 12, 13, 14, 2026 11a.m. – 7 p.m. local time No tickets required Madrid:
203 Calle de Serrano, Madrid, Spain
June 16 through June 21, 2026 1p.m. – midnight local time No tickets required For more information or to order, visit papajohns.com or go to the Papa Johns app.
ABOUT PAPA JOHNS
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind:BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the Company or to order pizza online, visit www.papajohns.com or download the Papa Johns mobile app for iOS or Android.
ABOUT DISNEY AND PIXAR’S TOY STORY 5
The toys are back in Disney and Pixar’s Toy Story 5, and this time it’s Toy meets Tech. Woody (voice of Tom Hanks), Buzz Lightyear (voice of Tim Allen), Jessie (voice of Joan Cusack) and the rest of the gang's jobs are challenged when they come face-to-face with Lilypad (voice of Greta Lee), a brand-new tablet device that arrives with her own disruptive ideas about what is best for their kid, Bonnie. Will playtime ever be the same? Toy Story 5 is directed by Academy Award® winner Andrew Stanton, co-directed by Kenna Harris, produced by Lindsey Collins, p.g.a., and written by Stanton and Harris. The film features an original score by Oscar® winner Randy Newman, who returns to score his fifth Toy Story feature. Toy Story 5 releases exclusively in theaters June 19, 2026. Rated PG.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260527093027/en/
On May 28, 2026, Papa John's International Inc PZZA shares rose 4.2% to $34.67. Despite today's positive movement, the stock has encountered volatility over the past year, with a 52-week high of $55.74 and a low of $29.55.
GF Value™ verdict: Current price is $34.67 vs GF Value of $45.94, representing a 24.5% undervaluation. GF Score™: 73/100, indicating an above-average ranking. Most notable signal: No insider transactions in the last 3 months. Is PZZA Overvalued or Undervalued? According to GF Value™, Papa John's International Inc is currently undervalued. The current price of $34.67 is significantly below the estimated fair value of $45.94, providing a margin of safety of 24.5%. This undervaluation presents an opportunity for potential investors, particularly in light of the company's modestly undervalued GF Valuation label. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
However, potential investors should proceed with caution. While undervaluation can indicate an opportunity, it may also reflect underlying issues that could affect the company's future performance. The financial strength and growth ranks of 4/10 and 4/10 respectively suggest there may be areas that need attention.
How Does PZZA's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 41.8x 31.6x Forward P/E 23.5x N/A The current P/E (TTM) of 41.8x is 32% above its 5-year median P/E of 31.6x, indicating that the stock is trading above its historical valuation. This P/E analysis does not align with the GF Value™ verdict, suggesting that while the stock may be undervalued based on GF Value™, it is overvalued when considering historical valuation metrics.
What Does PZZA's GF Score™ Tell Us? Metric Rating GF Score™ 73/100 Financial Strength 4/10 Profitability 7/10 Growth 4/10 Valuation 8/10 Momentum 5/10 The GF Score™ of 73/100 indicates that Papa John's has above-average potential for long-term returns. The strongest area lies in profitability with a score of 7/10, suggesting the company maintains solid profit margins. Conversely, the weakest areas are financial strength and growth, both rated at 4/10, indicating potential concerns regarding the company's balance sheet and growth trajectory.
What Are Insiders Doing with PZZA Stock? Currently, there have been no insider transactions in the last three months for Papa John's International Inc. This lack of activity may suggest that insiders are not making significant moves, which could indicate confidence in the company's current valuation or a wait-and-see approach regarding future performance.
What This Means for Investors Based on the GF Value™ assessment, Papa John's International Inc appears to be undervalued. However, potential investors should consider the mixed signals from valuation metrics and the company's financial strength before making any investment decisions.
For the complete analysis, visit the Papa John's International Inc PZZA stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is PZZA's GF Score™?
Papa John's GF Score™ is 73/100, indicating an above-average ranking based on key financial metrics, suggesting potential for higher long-term returns.
Is PZZA overvalued or undervalued?
Papa John's is currently undervalued according to the GF Value™ at $34.67 compared to the estimated fair value of $45.94.
What is PZZA's P/E ratio?
Papa John's current P/E (TTM) is 41.8x, which is 32% above its 5-year median P/E of 31.6x, indicating the stock is trading above its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
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NEW YORK, June 1, 2026 /PRNewswire/ -- Purcell & Lefkowitz LLP announces that it is investigating Papa John's International, Inc. (NASDAQ: PZZA) on behalf of the company's shareholders. The investigation seeks to determine whether Papa John's International's directors breached their fiduciary duties in connection with recent corporate actions.
If you are a shareholder of Papa John's International and are interested in obtaining additional information about your rights and options, please visit us at: https://pjlfirm.com/papa-johns-international-inc/
You may also contact Robert H. Lefkowitz, Esq. either via email at [email protected] or by telephone at 212-725-1000. One of our attorneys will personally speak with you about the case at no cost or obligation.
Purcell & Lefkowitz LLP is a law firm exclusively committed to representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty and other types of corporate misconduct. For more information about the firm and its attorneys, please visit https://pjlfirm.com. Attorney advertising. Prior results do not guarantee a similar outcome.
More than three months after it announced plans to close hundreds of restaurant locations this year, Papa Johns International appears to have already made significant reductions to its national footprint.
The pizza delivery and takeout chain has shuttered dozens of locations across at least 17 states in 2026 so far, according to a Fast Company analysis, with restaurants in Texas, California, Florida, and Arizona being hit especially hard.
Other states with multiple Papa Johns closures include Michigan, North Carolina, and Virginia. Some of the stores that have closed were the only Papa Johns in town, such as a recently shuttered location in Scottsboro, in northeastern Alabama.
Papa Johns, which has headquarters in Atlanta and Louisville, Kentucky, had 3,487 locations in North America as of the end of March, most of which are franchised.
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In February, the company announced it would close up to 300 locations through the end of 2027, with two-thirds of those closures expected this year.
Why is Papa Johns closing stores?Papa Johns has been struggling with declining North American sales, likely for a few reasons.
For starters, consumer tastes are changing, and believe it or not, Americans may be eating less pizza. According to a January report by the Wall Street Journal, pizzerias in the United States are now outnumbered by Mexican restaurants and coffee shops.
An American favorite pizza chain is quietly disappearing from communities across the country.
Papa Johns is following through on its plan to close about 300 North American stores, with dozens of locations shuttering in the first quarter – primarily in core Sun Belt states.
A recent analysis of Papa Johns financial filings by Fast Company found that 44 stores closed across 17 states, with the highest concentration of closures in Texas, California, Florida and Arizona.
Multiple location closures have also been identified in Michigan, North Carolina and Virginia.
A Papa John’s restaurant is seen on Feb. 27, 2026, in Austin, Texas. Getty Images The pizza brand first announced in February that hundreds of underperforming restaurants would cease operations by the end of 2027, describing the locations as being primarily franchise-owned, more than a decade old and generating less than $600,000 in annual sales volumes (AUVs).
“We believe these closures will further strengthen the system, increasing AUVs by at least 3 percent and improve franchisee health by allowing franchisees to reallocate resources towards operational excellence in their remaining restaurants and open units in priority markets,” Papa Johns CFO Ravi Thanawala previously said.
Papa Johns pepperoni pizza for pan pizza taste test photographed Feb. 13, 2026. The Washington Post via Getty Images He also said that the majority of the company’s restaurants worldwide have “performed well over the years and delivered strong returns for both corporate and franchise owners,” and that the strategic closure of underperforming restaurants is “among the most impactful actions we can take to improve restaurant profitability and fleet health.”
However, shares of Papa Johns International were down roughly 21 percent year to date through Wednesday’s close. Over the past five years, shares of Papa Johns International have fallen more than 69 percent.
In addition to the Q1 store closures, filings showed that Papa Johns laid off 7 percent of its corporate workforce.
Pizza boxes stacked in a Papa John’s restaurant on Feb. 27, 2026, in Austin, Texas. Getty Images Not only are franchisees across the fast-food industry facing severe headwinds from inflation, supply chain expenses and labor costs, but pizzerias nationwide are facing stiff competition.
A recent Wall Street Journal report found that pizza restaurants are now outnumbered by Mexican restaurants and coffee shops.
Other pizza chain competitors have made strategic moves amid weakening demand, including rival Pizza Hut closing hundreds of locations and its parent company, Yum! Brands, reportedly looking into a potential sale of the chain.
An American favorite pizza chain is quietly disappearing from communities across the country.
Papa Johns is following through on its plan to close about 300 North American stores, with dozens of locations shuttering in the first quarter – primarily in core Sun Belt states.
A recent analysis of Papa Johns financial filings by Fast Company found that 44 stores closed across 17 states, with the highest concentration of closures in Texas, California, Florida and Arizona.
Multiple location closures have also been identified in Michigan, North Carolina and Virginia.
CHICK-FIL-A EXPANDS ITS ‘GHOST KITCHEN’ MODEL WITH NEW DELIVERY-ONLY STORE IN FLORIDA
The pizza brand first announced in February that hundreds of underperforming restaurants would cease operations by the end of 2027, describing the locations as being primarily franchise-owned, more than a decade old and generating less than $600,000 in annual sales volumes (AUVs).
The interior of a Papa Johns Pizza is seen on May 9, 2024, in Austin, Texas. (Brandon Bell/Getty Images / Getty Images)
"We believe these closures will further strengthen the system, increasing AUVs by at least 3% and improve franchisee health by allowing franchisees to reallocate resources towards operational excellence in their remaining restaurants and open units in priority markets," Papa Johns CFO Ravi Thanawala previously said.
He also said that the majority of the company's restaurants worldwide have "performed well over the years and delivered strong returns for both corporate and franchise owners," and that the strategic closure of underperforming restaurants is "among the most impactful actions we can take to improve restaurant profitability and fleet health."
However, shares of Papa Johns International were down roughly 21% year to date through Wednesday's close. Over the past five years, shares of Papa Johns International have fallen more than 69%.
In addition to the Q1 store closures, filings showed that Papa Johns laid off 7% of its corporate workforce.
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Not only are franchisees across the fast-food industry facing severe headwinds from inflation, supply chain expenses and labor costs, but pizzerias nationwide are facing stiff competition. A recent Wall Street Journal report found that pizza restaurants are now outnumbered by Mexican restaurants and coffee shops.
Other pizza chain competitors have made strategic moves amid weakening demand, including rival Pizza Hut closing hundreds of locations and its parent company, Yum! Brands, reportedly looking into a potential sale of the chain.
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FOX Business’ Matthew Kazin contributed to this report.
