Categories AlphaGraphs, Earnings, LATEST, Retail
Domino’s Pizza Q2 profit jumps 19%, beats estimates
Fast-food chain Domino’s Pizza (NYSE: DPZ) reported a 19% jump in earnings for the second quarter of 2019 helped by higher royalty revenues from US and international franchised stores and an increase in supply chain volumes as well as healthy growth in global retail sales. The bottom line exceeded analysts’ expectations while the top line missed consensus estimates.
Net income climbed by 19% to $92.4 million or $2.19 per share. Revenue rose by 4% to $811.65 million, primarily due to an increase in worldwide store counts during the trailing four quarters as well as U.S. and international same store sales growth, resulting in higher supply chain and global franchise revenues.
Global retail sales increased by 5.1% in the second quarter. US same-store sales grew 3% from a year ago, continuing the positive sales momentum in its US business. The international division also posted positive results, with same-store sales growth of 2.4% during the quarter.
The second quarter marked the 102nd consecutive quarter of international same-store sales growth and the 33rd consecutive quarter of US same-store sales growth. The company had second-quarter global net store growth of 200 stores, comprised of 42 net new U.S. stores and 158 net new international stores.
During the second quarter of 2019, the company repurchased and retired 12,295 shares of its common stock under its board of directors-approved open market share repurchase program for about $3.3 million. As of June 16, 2019, the end of the second quarter, the company’s total remaining authorized amount for share repurchases was about $147.3 million.
On July 10, 2019, the company’s board of directors declared a quarterly dividend of $0.65 per share. The dividend will be paid on September 30, 2019, to the shareholders of record as of September 13, 2019.
Shares of Domino’s Pizza ended Monday’s regular session down 4.32% at $269.92 on the NYSE. Following the earnings release, the stock fell over 6% in the premarket session.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
ADBE Earnings: Adobe Q1 2024 revenue and profit beat estimates
Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in first-quarter 2024 revenue and earnings. The results also surpassed analysts' forecasts. First-quarter revenues came in at $5.18
Earnings Preview: FedEx (FDX) likely to report higher revenue and profit for Q3
FedEx Corporation (NYSE: FDX) delivered positive earnings performance and margin expansion in the first half of fiscal 2024, despite lower revenues. The cargo giant has been on a path of
Key takeaways from Dollar General’s (DG) Q4 2023 earnings report
Shares of Dollar General Corporation (NYSE: DG) fell over 4% on Thursday despite the company delivering better-than-expected earnings results for the fourth quarter of 2023. The top and bottom line numbers
Comments
Comments are closed.