Papa John's slides after annual sales forecast cut

By Reuters News

** Shares of Papa John's PZZA.O fell 7.7% at $18.45 premarket

** The pizza restaurant chain cuts FY global system-wide restaurant sales forecast second time; now sees ~5% decline

** Lowers 2026 adjusted EBITDA forecast to ~$175 mln from prior $180 mln-$190 mln

** PZZA continues to face pressure in competitive environment - CEO Todd Penegor

** Q3 revenue, adj EPS miss estimates

** PZZA trading at 15.28x EPS over next 12 months, under-performing peer Domino's DPZ.O (16.59x)

** Three of 14 brokerages rate the stock "buy", 10 "hold" and 1 "sell"; median PT $26 - LSEG

** PZZA down over 48% year through last close

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