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Domino’s Pizza Earnings: DPZ Stock Ticks 2% Lower Despite Q2 Beats

DPZ is losing its CFO

Domino’s Pizza (NYSE:DPZ) earnings for the company’s second quarter of 2020 have DPZ stock dipping lower on Thursday. That’s despite the company’s diluted earnings per share of $2.99 beating out Wall Street’s estimate of $2.21. Its revenue of $920.02 million also comes in higher than analysts’ estimates of $909.24 million.

Domino's Pizza Earnings: DPZ Stock Ticks 2% Lower Despite Q2 Beats
Source: Ken Wolter / Shutterstock.com

Here are some additional highlights from Domino’s Pizza’s most recent earnings report.

  • Diluted per-share earnings are up 36.5% compared to $2.19 in the same period of the year prior.
  • Revenue for the quarter is sitting 13.4% higher than the $811.65 million reported during the second quarter of 2019.
  • Operating income of $163.58 million is a 17.8% increase year-over-year from $138.92 million.
  • The Domino’s Pizza earnings report also has it bringing in a net income of $118.67 million.
  • That’s a 28.5% jump over the company’s net income of $92.36 million during the same time last year.

Ritch Allison, CEO of Domino’s Pizza, said this in the earnings report.

“Our focus as a global brand and the commitment of our local operators remains steadfast on serving our customers and our communities with a convenient, affordable and safe food and service experience. I have never been more proud of our system of franchisees, operators and corporate team members for their continued passion and innovative spirit, which was evident during the second quarter.”

It’s also worth noting that Domino’s Pizza executive vice president and CFO Jeffrey Lawrence is planning to retire. Lawrence’s decision comes after five years in the role. He will remain on board until a successor is found.

DPZ stock was down 2.2% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/07/dominos-pizza-earnings-drop-dpz-stock-despite-beats/.

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