Domino's Pizza Gains After Posting Q3 Revenue Above Street View

  • Domino's Pizza Inc DPZ reported third-quarter FY22 sales growth of 7.1% year-on-year to $1.068 billion, marginally beating the consensus of $1.06 billion.
  • Global retail sales increased 4.7%, excluding the negative impact of foreign currency. Without adjusting for the impact of foreign currency, global retail sales declined 1.6%.
  • Same-store sales in the U.S. grew 2%, while International same-store sales (excluding foreign currency impact) decreased 1.8%.
  • Also ReadWhy Domino's Stock Is Surging Today
  • The gross margin for the quarter contracted 290 basis points to 35.7%.
  • The operating margin for the quarter compressed 160 basis points to 16.5%.
  • EPS of $2.79 missed the analyst consensus of $2.97.
  • The company held $457.1 million in cash and equivalents and had a total debt of $5.1 billion as of September 11, 2022.
  • Net cash provided by operating activities for nine months was $330.2 million.
  • Dominos had Q3 global net store growth of 225 stores, comprised of 24 net U.S. store openings and 201 net international store openings.
  • "As we begin the fourth quarter, I believe Domino's is poised to emerge from these volatile times stronger than ever. We delivered around one out of every three pizzas in the United States before the pandemic, and we deliver around one out of every three pizzas today," said CEO Russell Weiner. 
  • Outlook: Dominos expects FY22 food basket pricing increase of 13% - 15%. It expects FY22 capital expenditure of $100 million (previously $120 million).
  • RelatedDomino's Pizza Continues To Be A Controversial Stock, Credit Suisse Says
  • Price Action: DPZ shares are trading higher by 7.04% at $323.00 in premarket on the last check Thursday.
  • Photo Via Wikimedia Commons
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