Fast-food chain Domino’s Pizza (NYSE: DPZ) has reported a modest increase in revenues for the first quarter of 2022. However, the company’s net profit declined in double digits during the period.
First-quarter net profit decreased to $90.9 million or $2.50 per share from $117.8 million or $3.00 per share in the comparable period of last year. Meanwhile, net revenues moved up 3% annually to $1.01 billion. International comparable-store sales grew 1.2% year-over-year, while domestic sales dropped 3.6%.
The board of directors of Domino’s recently declared a $1.10 per share quarterly dividend on its outstanding common stock for shareholders of record as of June 15, 2022, to be paid on June 30, 2022.
Read management/analysts’ comments on Domino’s Q1 2022 earnings
Domino’s shares traded lower in early trading on Thursday. The stock has declined 38% since the beginning of 2022, after entering the year on a low note.