Domino’s (NYSE:DPZ) earnings report for the third quarter of 2019 has DPZ stock heading higher on Tuesday. This comes despite the company’s earnings per share of $2.05, which misses Wall Street’s estimate of $2.07 for the quarter. Revenue of $820.81 million was also below analysts’ estimate of $823.91 million.
Now for a closer look at the most recent Domino’s earnings report.
- EPS reported in the third quarter of 2019 was up 5.1% YoY.
- Revenue for the quarter was up 4.43% from the same time last year.
- Operating income of $143.03 million is an 8% increase over $132.43 from the third quarter of 2018.
- The Domino’s earnings report also includes net income of $86.37 million.
- This is a 2.7% increase over its net income of $84.10 million from the same period of the year prior.
- Domino’s also announced a new share repurchase program that will have it buying back up to $1 billion in stock.
Ritch Allison, CEO of DPZ, had this to say in the Domino’s earnings report.
“It was a good quarter for Domino’s, as we continue to lean on our fundamental strength against a unique competitive environment. Strong unit growth and positive comps yielded a solid and balanced quarter of retail sales growth across both the U.S. and international businesses.”
The Domino’s earnings report also includes an update for its long-term outlook. This has it replacing its old three-to-five-year outlook with a two-to-three-year one. DPZ is expecting global retail sales growth to increase between 7% and 10%, and global net store growth to increase in the range of 6% to 8% for the period.
DPZ stock was up 5.40% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.