Domino’s Pizza (NYSE:DPZ) unveiled its quarterly earnings results late today, bringing in a profit that managed to come in at a higher figure than what analysts called for, but a revenue miss and same-store sales growth below the mark played a role in sending DPZ stock plummeting.
The Michigan-based pizza chain reported that for its second quarter of 2019, it amassed adjusted earnings of $2.19 per share, which were stronger than the $2.02 per share that analysts called for. The company did not impress with its revenue, which tallied up to $811.6 million, missing the $836.59 million that analysts called for.
“As a work-in-progress brand, we are constantly striving to improve in needed areas, execute our long-term strategy and build toward Dominant #1 – a goal I continue to feel we are built to achieve,” CEO Ritch Allison said in a statement.
It was also a miss for Domino’s from the same-store sales side of things, which is a metric that is indicative of how well a restaurant performs to a certain degree. This figure only managed to grow about 3% in the U.S. when compared to the year-ago quarter.
Analysts were projecting the business’ same-store sales were going to surge about 4.6% when compared to the year-ago three-month period. Meanwhile, Domino’s posted an international same-store sales gain of 2.4% when compared to the year-ago quarter, also below the projected 2.6% pop.
DPZ stock is down 8.4% on Tuesday following these results.