Domino’s Pizza earnings for the first quarter of the year have DPZ stock up on Wednesday.
Domino’s Pizza (NYSE:DPZ) reported revenue of $835.96 million for the first quarter of 2019. This is better than the company’s revenue of $785.37 million reported in the same period of the year prior. However, this still comes in below Wall Street’s revenue estimate of $849.21 million for the quarter, but wasn’t keeping DPZ stock down today.
The other negative news from the Domino’s Pizza earnings report is the company’s U.S. same-store sales growth of 3.9% for the quarter. This misses analysts’ U.S. same-store sales growth estimates of 4.2% for the period. It’s also a drop from U.S. same-store sales growth of 8.3% in the first quarter of 2018
Despite the poor sales results for the first quarter of the year, Domino’s Pizza earnings still has DPZ stock on its way up today. This is due to the company’s earnings per share of $2.20 for the quarter. This is better than its earnings per share of $2.00 from the same time in 2018. It also was a boon to DPZ stock by beating out Wall Street’s earnings per share estimate of $2.09 for the quarter.
“It was a good quarter for our U.S. business, and I am very pleased with our balanced retail sales growth, driven by a healthy combination of solid same-store sales and unit growth,” Ritch Allison, CEO of DPZ, said in the Domino’s Pizza earnings report.
DPZ stock was up 6% as of Wednesday afternoon and is up 11% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.