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
PG Earnings: Procter & Gamble Q3 profit climbs, beats estimates
Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly. Core
AXP Earnings: All you need to know about American Express’ Q1 2024 earnings results
American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher
Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers
Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's
Comments
Comments are closed.