Domino's revenue beats as pizza demand remains strong in the U.S.

6 days ago

Employees garnish pizza wrong a Domino's Pizza location.

Jason Alden | Bloomberg | Getty Images

Domino's Pizza connected Thursday reported that its U.S. same-store income climbed 3.5% successful its latest quarter, contempt pugnacious comparisons to its skyrocketing income during lockdowns past year.

Shares of the institution roseate much than 1% successful premarket trading.

Here's what the institution reported compared with what Wall Street was expecting, based connected a survey of analysts by Refinitiv:

  • Earnings per share: $3.06
  • Revenue: $1.03 cardinal vs. $972.3 cardinal expected

The pizza concatenation reported fiscal second-quarter nett income of $116.6 million, oregon $3.06 per share, down from $118.7 million, oregon $2.99 per share, a twelvemonth earlier. Excluding recapitalization expenses, Domino's earned $3.12 per share. Analysts surveyed by Refinitiv were expecting net per stock of $2.87, but it is unclear if that fig is comparable to Domino's results.

Net sales rose 12.2% to $1.03 billion, beating expectations of $972.3 million.

In the United States, Domino's reported affirmative same-store income growth. On a two-year basis, U.S. same-store income roseate 19.6% successful the quarter. The segment's beardown show this 4th is simply a motion that the institution whitethorn beryllium capable to debar a income slump stemming from pizza fatigue.

Outside of the U.S., Domino's same-store income jumped 13.9% compared with a twelvemonth agone and 15.2% compared with 2 years ago. Last year, Domino's planetary concern was wounded by impermanent edifice closures successful markets with stricter lockdowns than the U.S.

Worldwide, Domino's added 238 nett caller locations, including 35 successful its location market.

Additionally, Domino's announced that it completed a $1.85 cardinal recapitalization transaction, which was antecedently announced. The institution besides made a $1 cardinal accelerated stock repurchase statement with an unnamed party, allowing the institution to person and discontinue much than 2.25 cardinal shares.