Papa John (PZZA) Q2 FY26 earnings call

Papa John's Q2 FY26 results reflect ongoing transformation efforts yielding positive international comps and digital engagement, but North America faced significant headwinds from a softer consumer backdrop and aggressive QSR competition. The company is rebalancing its strategy with increased franchisee support, targeted value offerings, and accelerated technology rollouts, while suspending its dividend to fund these critical investments. Management acknowledges the transformation is taking longer than anticipated but remains committed to long-term growth and value creation.