Employees garnish pizza inside a Domino’s Pizza location.
Jason Alden | Bloomberg | Getty Images
Domino’s Pizza on Thursday reported that its U.S. same-store sales climbed 3.5% in its latest quarter, despite tough comparisons to its skyrocketing sales during lockdowns last year.
Shares of the company rose more than 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $3.06
- Revenue: $1.03 billion vs. $972.3 million expected
The pizza chain reported fiscal second-quarter net income of $116.6 million, or $3.06 per share, down from $118.7 million, or $2.99 per share, a year earlier. Excluding items, Domino’s earned $3.12 per share. Analysts surveyed by Refinitiv were expecting earnings per share of $2.87, but it is unclear if that figure is comparable to Domino’s results.
Net sales rose 12.2% to $1.03 billion, beating expectations of $972.3 million.
In the United States, Domino’s reported positive same-store sales growth. On a two-year basis, U.S. same-store sales rose 19.6% in the quarter.
Outside of the U.S., Domino’s same-store sales jumped 13.9% compared with a year ago and 15.2% compared with two years ago. Last year, Domino’s international business was hurt by temporary restaurant closures in markets with stricter lockdowns than the U.S.
Additionally, Domino’s announced that it completed a $1.85 billion recapitalization transaction, which was previously announced. The company also made a $1 billion accelerated share repurchase agreement with an unnamed party, allowing the company to receive and retire more than 2.25 million shares.