Domino’s Rises on Solid Earnings
Domino's Pizza reported better-than-expected third-quarter financial results before the markets opened on Tuesday.
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Domino’s Pizza Inc. (NYSE: DPZ) reported its most recent financial results before the markets opened on Tuesday. The company posted $0.96 in earnings per share (EPS) and $566.7 million in revenue. The consensus estimates from Thomson Reuters were $0.89 in EPS on revenue of $542.38 million. The same period of last year reportedly had EPS of $0.67 and $484.7 million in revenue.
The company saw its revenues rise in this quarter, primarily due to higher supply chain revenues from increased volumes and store growth. Increased domestic franchise and company-owned store revenues and higher international revenues resulting from both same-store sales and store count growth also contributed to this increase.
In terms of same-store sales, domestically Domino’s had 13% growth while internationally it was only 6.6%.
The board of directors also declared a quarterly dividend of $0.38 per share for shareholders of record as of December 15, to be paid on December 30.
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On the books, the company said that it had $30.0 million in unrestricted cash and cash equivalents.
J. Patrick Doyle, Domino’s president and CEO, commented:
We continued to execute at a very high level during the third quarter, as our unprecedented momentum, steady strategy and alignment with our outstanding franchisees is helping to take the business to new heights. I couldn’t be more pleased with the way our system continues to answer the challenge of sustained success.
Shares were trading up over 5% at $159.99 on Tuesday, with a consensus analyst price target of $153.25 and a 52-week trading range of $100.59 to $161.41.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
