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Domino's Pizza Misses Q3 Views

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Domino's Pizza, Inc. (NYSE: DPZ) reported weaker-than-expected results for its fiscal third quarter on Thursday.

The Ann Arbor, Michigan-based company posted quarterly net income of $37.8 million, or $0.67 per share, compared to $35.6 million, or $0.63 per share, in the year-ago period.

Its revenue gained 8.5 percent to $484.7 million. However, analysts were expecting earnings of $0.74 per share on revenue of $487 million.

The average estimate among 35 Estimize users was for earnings of $0.76 per share and revenue of $485.05 million.

Domestic same store sales surged 10.5 percent in the latest quarter, while international same-store sales, excluding foreign currency impact, surged 7.7 percent.

During the quarter, Domino's repurchased 365,460 shares of its common stock for approximately $40.9 million. The company's board declared a quarterly dividend of $0.31 per share.

As of September 6, 2015, Domino's had $32.5 million of unrestricted cash and cash equivalents and $1.53 billion in total debt.

J. Patrick Doyle, Domino's President and Chief Executive Officer, said, "We are pleased with the sustained strong sales and continued momentum behind store growth. The things we are doing are working, and we will continue to aggressively lead the industry."

Domino's shares rose 0.65 percent to close at $107.96 yesterday.

 

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