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Pizza Pizza Royalty
Pizza Pizza Royalty (PZA) investor relations material
Pizza Pizza Royalty Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Achieved a network milestone of 811 stores in Canada at quarter-end, including 706 Pizza Pizza and 105 Pizza 73 sites, and expanded internationally with four locations in Mexico.
Royalty Pool sales grew 2.0% in Q3 2025 and 2.5% year-to-date, driven by modest same-store sales growth and new restaurant additions.
Continued focus on value messaging, digital innovation, and menu enhancements to drive customer engagement and frequency.
Introduced new menu items and successful promotions, such as deep-fried pizza on a stick and the 18-inch double XL pizza deal.
Adjusted earnings per share decreased 1.3% in Q3 2025, while year-to-date adjusted EPS was flat.
Financial highlights
Q3 2025 Royalty Pool System Sales: $158.8 million, up from $155.8 million in Q3 2024.
Same-store sales grew 0.1% year-over-year; Pizza Pizza up 0.3%, Pizza 73 down 1.1%.
Royalty income rose 1.9% to CAD 10.2 million for the quarter.
Dividends declared: $5.7 million for Q3 and $17.1 million year-to-date; dividend per share unchanged.
Payout ratio for the quarter was 111%, reducing working capital by CAD 800,000 to CAD 4 million.
Outlook and guidance
Management expects to grow the traditional restaurant network by 2% to 3% and continue renovations through 2025.
Anticipate strong Q4 performance driven by sports partnerships and continued menu innovation.
Ongoing investment in digital platforms and loyalty program enhancements to improve customer retention.
Working capital plan given 111% payout ratio?
Impact of digital/new offerings on traffic/check?
What drives Pizza 73's Q3 negative SSSG?
Plan to address 111% payout ratio?
Mexico expansion: What is the updated timeline?
Drivers of organic delivery growth in Q3?
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Next Pizza Pizza Royalty earnings date
Q4 20252 Apr, 2026
Pizza Pizza Royalty
Next Pizza Pizza Royalty earnings date
Q4 20252 Apr, 2026
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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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