The company reported 89 net unit openings in Q4 2023. Credit: Susan Montgomery via Shutterstock.com.

Papa Johns International has reported net income of $26.09m for the fourth quarter (Q4) of 2023, an increase of 11.6% compared with $23.37m a year previously.

For the quarter ending 31 December 2023, total revenues were $571.3m, up 8.6% from $526.23m reported in the same quarter of the previous year.

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The $45.1m rise in revenue was largely attributed to an additional week of operations in 2023, which contributed approximately $41m to the company’s top line.

During the quarter, Papa Johns’ operating income rose to $42.56m from $36.23m a year earlier. This $8m benefit was again due to the 53rd week of operations during the fiscal year.

Global system-wide restaurant sales for Papa Johns reached $1.34bn in Q4 2023, an 11% increase from the previous year.

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The company’s diluted earnings per common share for the quarter was $0.79, up from $0.66 in the previous year. Adjusted diluted earnings per common share also increased to $0.91 from $0.71.

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During Q4, the company opened 89 net units driven by 36 North American and 53 international net unit openings.

Papa Johns president and CEO Rob Lynch said: “Papa Johns finished 2023 with a solid fourth quarter and achieved record system-wide sales for the year, marking this as our fourth consecutive year of positive North America comparable restaurant sales.

“More importantly, we made significant progress in several key operational areas during the year. We improved our domestic company-owned restaurant-level margins, grew our global footprint and enhanced our digital solutions and marketing platforms.

“These efforts have strengthened Papa Johns and laid the foundation for our next phase of growth.”