Domino's Pizza Surges 14% on Q4 Results
Domino's Pizza (NYSE: DPZ) released its Q4 earnings results on Tuesday prior to the opening bell. The pizza-maker, which has seen its share price surge in the wake of a company turnaround, posted net income for the quarter of $30.09 million or $0.52 per share, versus $24 million or $0.39 per share, in the year ago period. This compared to Wall Street analysts' consensus EPS estimates of $0.49.
Fourth quarter revenue at the company came in at $501.7 million versus $480 million in last year's corresponding quarter. This was light of analysts' estimates of $512.70 million.
Domestic same store sales at Domino's grew 6.8% in the quarter and international same store sales were up 4.7%. Total global retail sales were up 8.8% versus the same quarter last year.
Looking ahead, DPZ expects domestic same store sales to grow 1% to 3% over the long-term and international same store sales are expected to grow 3% to 5%. Total global retail sales are projected to rise 5% to 8% annually.
This is a modest uptick in the company's guidance. Domino's previously said that it expected international same store sales to grow between 3% to 5% and global retail sales to rise 4% to 7%.
On the back of strong bottom line results and a bump in guidance, DPZ shares have risen a little more than 14% on Tuesday to $38.27.
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