Here's Papa John's … (PZZA)

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Papa John's pizzaThe Papa John's Pizza Facebook page

  • Papa John's shares changed little on Tuesday night after the company released its quarterly and annual results. Quarterly profits and revenues for the pizza chain were below analysts' expectations.
  • The company said it incurred "special charges" of $ 25.9 million in the fourth quarter – and $ 50.7 million for the full year – partly because of "reimaging costs" in almost all the national restaurants.
  • The report comes less than a month after the company received an investment from Starboard Value, the New York-based activist hedge fund.
  • Shares have fallen 27% over the past year, but have risen 5% so far in 2019.
  • Watch Papa John's trade live.

Papa John's shares surged Tuesday after trading hours after the company released its quarterly and annual results. The pizza chain reported fourth quarter earnings and fourth quarter revenue below analysts' expectations.

Here is what Daddy John reported about what the analysts surveyed by Bloomberg expect:

  • Adjusted earnings per share (EPS): $ 0.15 against $ 0.18 expected.
  • Returned: $ 374 million against $ 393.2 million.

At the same time, comparable international sales fell 2.6% in the fourth quarter and 1.6% for the year as a whole.

The company said it incurred "special charges" of $ 25.9 million in the fourth quarter – and $ 50.7 million for the full year – partly because of "reimaging costs" in almost all the national restaurants.

Last August, it was reported that Papa John's was erasing the footsteps of its founder, John Schnatter, who had resigned and resigned as president in mid-2018.

The report comes less than a month after activist hedge fund Starboard Value invested $ 200 million in the pizza chain and installed its president as president.

Steve Ritchie, chief executive officer of the company, said in a statement Tuesday that the pizza chain was planning to "make targeted investments in the most profitable initiatives" with $ 200 million investment.

The actions of Papa John have been under pressure over the past year. The company would seek to sell itself last fall.

Shares of the pizza chain have fallen 27% over the past year, but have risen 5% since the beginning of the year until Tuesday.

Now read:

The actions of Papa John.Insider Markets

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