Domino’s Pizza Stock Bit by Weak Sales
Domino’s Pizza (NYSE:DPZ) stock was down on Thursday following the release of its earnings report for the second quarter of 2018.
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The damage to DPZ stock from Domino’s Pizza’s most recent earnings report is its revenue for the quarter. This came in at $779.40 million, which is up from the $628.61 million reported in the second quarter of 2017. However, it wasn’t able to reach Wall Street’s revenue estimate of $784.61 million for the period.
Domino’s Pizza notes that this quarter marks the 29th consecutive quarter that it has seen same store sales increase. It also points out that it opened 113 net new stores international stores and 43 net new domestic stores during the quarter.
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Domino’s Pizza also reported earnings per share of $1.84 for the second quarter of the year. This is an increase over its earnings per share of from the same period of $1.32 the year prior. It also beat out analysts’ earnings per share estimate of $1.75 for the quarter, but wasn’t enough to save DPZ stock today.
During the second quarter of 2018, Domino’s Pizza reported net income of $77.41 million. The pizza chain’s net income from the same time last year was $65.74 million.
Operating income reported by Domino’s Pizza for the second quarter of the year came in at $126.15 million. This is up from the company’s operating income of $112.87 million reported in the second quarter of the previous year.
DPZ stock was down 1% as of noon Thursday, but is up 51% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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