FOX Business’ Maria Bartiromo sits down with John Schnatter, founder and former CEO of Papa John’s, for an exclusive interview covering the controversy surrounding his resignation.
Papa John’s Chief Financial Officer Joe Smith is leaving the pizza chain after almost 20 years.
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“On behalf of the entire Papa John’s team, I want to express gratitude to Joe Smith for his dedication to the company, his commitment to a smooth transition and the big impact he has made in the many important roles he has served here, including as CFO since April 2018,” CEO Rob Lynch said in a statement.
The announcement came alongside the pizza chain’s third-quarter results, which showed its loss narrowed from a year ago.
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The loss of 10 cents per diluted share was still worse than the 3-cent loss analysts surveyed by Bloomberg were expecting. Revenue of $403.7 million, however, topped estimates of $385 million.
On an adjusted basis, the company earned 21 cents per diluted share, just missing the 22 cents that was expected. Net income was $385,000. The net loss including payment of preferred dividends was $3.09 million.
PAPA JOHN SELLS $107.5M SLICE OF PAPA JOHN’S STOCK
Sales at North American pizzerias open at least a year rose 1 percent. “We are very pleased to have positive comparable sales in North America for the first time in two years,” Lynch said in the statement.
This story is developing. Check back for updates.
