Domino’s Pizza, Inc. (NYSE: DPZ) reported its financial results for the quarter ended March 31, 2020 today.
Domino’s Pizza posted a 31% jump in earnings for the first quarter of 2020 driven by a lower effective tax rate as a result of higher tax benefits from equity-based compensation. Higher royalty revenues from the US and international franchised stores and higher supply chain volumes also benefited net income. Global retail sales increased by 4.4% in the first quarter and US same-store sales grew by 1.6%.
Due to the current uncertainty surrounding the global economy and the company’s business operations considering COVID-19, the company is withdrawing its two-to-three-year outlook for global retail sales growth, US same-store sales growth, international same-store sales growth, and global net unit growth. As of April 21, 2020, the company estimates that about 1,750 international stores are temporarily closed due to the lockdown arising from the pandemic.
Energy giant ExxonMobil Corporation (NYSE: XOM) reported a profit for the second quarter of 2021, compared to a loss last year, even as operating conditions continued to improve. The results
Caterpillar Inc (NYSE: CAT) reported second-quarter 2021 financial results before the regular market hours on Friday. The manufacturer of construction machinery and equipment reported Q2 revenue of $12.9 billion, up
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