Domino’s Pizza (NYSE:DPZ) stock is rising higher on Thursday after the company released its earnings report for the second quarter of 2021.
The good news for DPZ stock starts with the company’s adjusted diluted earnings per share of $3.12. That’s a 4.3% increase compared to the $2.99 per share reported during the same time last year. It also comes in above Wall Street’s adjusted diluted EPS estimate of $2.86 for the quarter.
In addition to this, DPZ stock is also getting a boost from Q2 2021 revenue of $1.03 billion. That’s a 12.2% jump from the company’s revenue of $920.02 million in the same period of the year prior. It also beats out analysts’ revenue estimate of $969.91 million for the quarter.
Domino’s Pizza attributes the successful quarter to a few factors. That includes increasing same-store sales compared to the second quarter of 2020. It also notes that an increase in global locations resulted in “higher supply chain, U.S. stores and international franchise revenues.”
Ritch Allison, CEO of Domino’s Pizza, said the following in the earnings report sending DPZ stock higher today.
“Given our current operating environment, we are watching our two-year sales trends anchored to pre-Covid fiscal 2019 results. I am pleased that in the second quarter our cumulative two-year same stores sales were up 19.6% domestically and 15.2% internationally, signifying meaningful and sustained growth.”
DPZ is seeing heavy trading today with its positive earnings report. This has some 1 million shares changing hands as of this writing. That’s about double its daily average trading volume of 595,000 shares.
DPZ stock was up 12.4% as of Thursday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.