Investors Not Hungry for Domino’s in Q2
When Domino’s Pizza Inc. (NYSE: DPZ) reported its second-quarter financial results before the markets opened on Thursday, the company posted $1.85 in earnings per share (EPS) and $779.4 million in revenue. The consensus estimates had called for EPS of $1.75 on $784.61 million in revenue. The same period of last year reportedly had $1.32 in EPS and revenue of $628.61 million.
During the latest quarter, domestic same-store sales grew 6.9% from the year-ago period, continuing the positive sales momentum in the company’s domestic business. The international division also posted positive results, with same-store sales growth of 4.0% during the quarter. The second quarter marked the 98th consecutive quarter of positive international same-store sales growth and the 29th consecutive quarter of positive domestic same-store sales growth.
The company also had second-quarter global net store growth of 156, comprised of 113 net new international stores and 43 net new domestic stores.
Ritch Allison, Domino’s CEO, commented:
Global retail sales remain strong as we see our franchisees building new stores, growing same store sales and bringing customers back again and again. Our second quarter was highlighted by yet another innovation in food delivery with the launch of Domino’s HotSpots, of which there are now more than 200,000 across the United States. The energy, passion and operational execution of our franchisees and managers around the world inspire me as I begin my role as CEO.
Shares of Domino’s were last seen down about 2% at $277.97, with a consensus analyst price target of $289.63 and a 52-week trading range of $166.74 to $293.81.
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