Domino’s misses Q3 earnings while revenue beats

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The world's largest pizza chain Domino's Pizza (NYSE: DPZ) announced third-quarter financial results on Thursday. The company earnings missed the consensus estimate while the revenue rose 17.9% to $968 million, topping expectations of $953 million. On the other hand, Domino’s operating profit margin was 37.4% of revenues in the third quarter, down from 38.5% in the second quarter.

  • Earnings per share (EPS) $2.49 vs. 2.79 expected
  • Revenue $968 million vs. $953 million expected
The company said its same-store sales rose 17.5% in the U.S. in the third quarter. The international business posted positive same-store sales results, with a growth of 6.2% during the quarter. During the quarter, the company permanently closed 126 restaurants, primarily in India. Domino's added 83 net new locations.

"I am extremely proud of our global franchisees, operators, and corporate teams for their relentless passion and energy as we continue to navigate through the pandemic," said Ritch Allison, Domino's CEO. "Our strong third-quarter results once again demonstrated our focus on value, service, quality, and innovation to meet customer needs.

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$DPZ shares closed 7% lower on Thursday after mixed third-quarter financial results. The stock moved to 32.16% in the last six months and climbed 45% in 2020.

Read more- https://gulfbrokers.com/en/dominos-misses-q3-earnings-while-revenue-beats
 
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