Domino’s Pizza (DPZ) beats second quarter 2021 profits – .

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Domino’s Pizza (DPZ) beats second quarter 2021 profits – .


Domino’s Pizza announced Thursday that its U.S. same-store sales rose 3.5% in its most recent quarter, despite difficult comparisons to its skyrocketing sales during last year’s closings.
The company’s shares rose more than 2% in pre-market trading.

Here’s what the company reported compared to what Wall Street expected, based on a Refinitiv survey of analysts:

  • Earnings per share: $ 3.12 adjusted vs. $ 2.87 expected
  • Returned: $ 1.03 billion against $ 972.3 million expected

The pizza chain reported second-quarter net income of $ 116.6 million, or $ 3.06 per share, from $ 118.7 million, or $ 2.99 per share, a year earlier.

Excluding recapitalization fees, Domino’s gained $ 3.12 per share, exceeding the $ 2.87 per share expected by analysts polled by Refinitiv.

Net sales rose 12.2% to $ 1.03 billion, beating expectations of $ 972.3 million.

In the United States, Domino’s recorded positive same-store sales growth. Over two years, comparable store sales in the United States increased 19.6% in the quarter. The segment’s strong performance this quarter is a sign the company may be able to avoid a sales slump due to pizza fatigue.

Outside the United States, Domino’s same-store sales jumped 13.9% from a year ago and 15.2% from two years ago. Last year, Domino’s international business was affected by temporary restaurant closures in markets with more stringent closures than the United States.

Worldwide, Domino’s added 238 new net locations, including 35 in its home market.

In addition, Domino’s announced that it has completed a previously announced $ 1.85 billion recapitalization transaction. The company also entered into a $ 1 billion fast-track share buyback agreement with an anonymous party, allowing the company to receive and withdraw more than 2.25 million shares.

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