Domino’s Pizza Earnings Beat Expectations, Announces $1 Billion Share Repurchase Program

The shares of Domino’s Pizza Inc. were up 2.1% in pre-market trading Thursday after the pizza delivery company reported second-quarter earnings and earnings that exceeded expectations. Net income was $116.6 million, or $3.06 per share, after net income of $118.7 million or $2.99 ​​per share last year. Adjusted EPS of $3.12 beat the FactSet consensus at $2.87. Revenue totaled $1,032 billion, up from $920.0 million last year and also ahead of the FactSet consensus of $974.0 million. Same-store sales in the US grew 3.5%, beating the FactSet consensus for a 1.4% decline. And international same-store sales growth of 13.9% was ahead of the FactSet consensus for growth of 8.7%. Domino’s has approved a new $1 billion share repurchase program. On July 20, the company announced a quarterly dividend of 94 cents to be paid on September 30 to shareholders who had a record on September 15.
rose 16% for the period.