Papa Murphy’s posted preliminary unaudited results for the fourth quarter of 2018 on Monday, and the numbers are welcome news for the Vancouver-based take-and-bake pizza chain, which has struggled amid an increasingly competitive casual fast-food landscape.
Net income for the fourth quarter was reported to be approximately $20 million or 12 cents per share, with a revenue of $32 million, both of which exceeded the amounts that analysts had predicted. Sales decreased by an estimated 1.3 percent, but that number represents an improved sales trend over previous quarters.
The company has been working to improve its sales numbers by ratcheting up its digital marketing and adding options like online ordering and home delivery. Officials announced in November that they would conduct a review of “strategic alternatives” that included the possibility of selling the business.
The fourth-quarter results bring the company’s total revenue for 2018 to an estimated $126.4 million, with profit of $4.3 million or 26 cents per share. The company’s stock was up 7.8 percent at closing on Tuesday.
