Domino's Pizza Tops Q3 Expectations, 13% Same-Store Sales Growth
Domino's Pizza, Inc. (NYSE: DPZ) delivered stronger than expected numbers for the third quarter. Its results were driven by increased margin and 22nd straight quarter of same-store sales growth in the domestic circuit.
The chain of restaurant operator revealed net income of $47.23 million, or EPS of $0.96, up from $37.8 million, or EPS of $0.67, in the year-ago quarter. This is $0.07 a share higher than the Street estimates of $0.89 per share.
Total revenues advanced from $484.7 million to $566.7 million and came in above the Street analysts' expectations of $542.38 million. Domino's same-store sales witnessed 13.0 percent growth in the United States while global segment recorded 6.6 percent growth.
While operating margin improved from 29.3 percent to 30.7 percent, net income margin grew from 7.8 percent to 8.3 percent to boost profitability.
Domino's president and CEO, Patrick Doyle, commented, "We continued to execute at a very high level during the third quarter, as our unprecedented momentum, steady strategy and alignment with our outstanding franchisees is helping to take the business to new heights."
The stock jumped $5.06, or 3.33 percent, to $157.07 in pre-market trading on Tuesday.
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