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Pizza Pizza Royalty (PZA) investor relations material

Pizza Pizza Royalty Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary7 Aug, 2025

Executive summary

  • Same store sales grew 2.1% in Q2 2025, reversing prior declines, with both brands contributing positively despite a softening macroeconomic environment.

  • Royalty Pool System Sales rose 3.9% to $161.4M in Q2, driven by increased guest traffic, higher average check, and successful marketing and menu innovation.

  • Adjusted EPS increased 1.3% to $0.241 in Q2.

  • Restaurant network expanded to 800 locations in Canada, with 3 net new locations year-to-date and 20 net new restaurants added to the Royalty Pool.

  • Ongoing development in Mexico continues, though at a slower pace than initially targeted.

Financial highlights

  • Q2 Royalty income was $10.3M, up 3.8% year-over-year; six-month royalty income reached $20.1M.

  • Dividends declared totaled $5.7M (23.25¢ per share) in Q2, consistent with prior year.

  • Payout ratio was 108% in Q2, utilizing $400K from working capital reserve, which ended at $4.8M.

  • Adjusted earnings available for shareholder dividends were $5.3M in Q2.

  • Working capital reserve stood at $4.8M at June 30, 2025, down $1.3M during the period.

Outlook and guidance

  • Management expects 2–3% traditional restaurant network growth for 2025, with continued renovations and a focus on value messaging, digital investment, and customer retention.

  • Dividend policy aims for consistent monthly distributions, funded by operations and cash reserves.

  • Mexican expansion continues, though pace may be slower than initially targeted.

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Frequently asked questions

Pizza Pizza Royalty Corp is a Canadian company that earns revenue through royalties derived from the Pizza Pizza and Pizza 73 brands, which operate in the quick-service restaurant sector. These brands offer a variety of pizza and fast-food items through dine-in, delivery, and takeout services. The company’s business model is based on franchising, where franchisees operate individual restaurant locations, and Pizza Pizza Royalty Corp receives a percentage of sales as royalty income. The company is headquartered in Toronto, Ontario, and its shares are listed on the TSX.

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