Domino’s Pizza, Inc. (NYSE:DPZ) early Thursday posted market beating third quarter earnings results, amid strong comps growth and store expansion.
The Ann Arbor, MI-based pizza chain operator and franchisor reported Q3 earnings per share (EPS) of $1.27, which was $0.04 better than the Wall Street consensus estimate of $1.23. Revenues of $643.6 million also beat analysts’ view of $623.2 million.
Domestic same store sales (comps) rose 8.4% during the quarter. Domino’s noted this was the 26th consecutive quarter of positive comps momentum in its domestic business. Meanwhile, International same store sales rose 5.1%, the 95th straight quarter of comps growth.
Globally, Domino’s saw net store growth of 217 stores in Q3, with 53 net new domestic stores and 164 net new stores internationally.
The company commented via press release:
“The third quarter was an excellent example of us simply continuing to do what we do best: executing on our long-term strategy, relying upon our strong fundamentals and aligning with our outstanding U.S. and international operators to turn in another quarter of phenomenal results,” said J. Patrick Doyle, Domino’s President and Chief Executive Officer. “The momentum behind this business continues to amaze me, proving once again that our domestic and international franchisees are second to none.”
Domino’s Pizza, Inc. shares were unchanged in premarket trading Thursday. Year-to-date, DPZ has gained 32.34%, versus a 15.71% rise in the benchmark S&P 500 index during the same period.