Domino’s Pizza reports earnings beat in first quarter
The world’s largest pizza company by sales, Domino’s Pizza, reported first quarter earnings that beat analysts; expectations and demonstrated a positive forward momentum at the beginning of 2018. The company saw strong performance in all segments: its global retail sales growth came in at 16.8%, it saw domestic same store sales growth of 8.3%, international same store sales growth hit 5%, and earnings per share increased by a massive 58.7%. All of these figures are reported as measured against the same quarter in the previous year.
Domino’s results pushed its share price higher last week, up 32% YTD
SOURCE: Yahoo Finance
Domino’s opened 110 new stores throughout the quarter, which is its 97th consecutive quarter of positive international same store sales growth. Of those stores, 79 are international, and 31 are domestic.
Domino’s beat estimates on earnings per share by 23¢, and committed to a share buy back scheme and 55¢ per share dividend for shareholders “of record as of June 15, 2018, to be paid on June 29, 2018.”
The company’s outgoing CEO, J. Patrick Doyle, spoke positively about the results and the business. He said:
"The first quarter of 2018 was another outstanding performance by our franchisees and managers across the globe. We delivered in every way: from global retail sales growth through strong domestic and international same store sales comps, to new stores, and through both delivery and carryout."
"As my tenure as CEO comes to a close, I am extremely proud of what we have accomplished as a global system over the past several years, and I am confident the future of Domino's is in good hands. Our business model works, thanks to our committed and hard-working franchisees, our dedicated store managers and the visionary leaders who are among the best in the restaurant industry."
Dominion holds Domino’s Pizza in its Global Trends Managed Fund.
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