Domino’s Pizza Inc. (NYSE: DPZ) released its fourth-quarter financial results before the markets opened on Thursday. The company said that it had $3.12 in earnings per share (EPS) and $1.15 billion in revenue, which compares with consensus estimates that called for $2.98 in EPS on revenue of $1.12 billion. In the same period of last year, the pizza chain posted EPS of $2.62 and $1.08 billion in revenue.
Global retail sales increased 6.9% in the fourth quarter, or 7.6% without the negative impact of changes in foreign currency exchange rates. This increase was primarily due to an increase in global store counts during the trailing four quarters, as well as U.S. and international same-store sales growth, resulting in higher supply chain and U.S. and international franchise revenues.
U.S. same-store sales grew 3.4% from the prior-year quarter, and international same-store sales grew 1.7%.
The company had fourth-quarter global net store growth of 492 stores, comprised of 141 net new U.S. stores and 351 net new international stores.
Domino’s said that the outlook for the next two to three years calls for global retail sales growth in the range of 7% to 10%, U.S. same-store sales growth of 2% to 5% and international same-store sales growth 1% to 4%. Consensus estimates call for $10.72 in EPS and $3.87 billion for the 2020 full year.
Ritch Allison, Domino’s CEO, commented:
I am extremely proud of the accomplishments of our franchisees and our team members from around the world, not just in the fourth quarter, but throughout all of 2019. Our relentless focus on our customers, our franchisees and the long-term growth and profitability of the Domino’s business model helped us deliver a solid 2019 in the face of unique competitive headwinds.
Domino’s Pizza stock traded up more than 23% early Thursday at $367.57, topping a previous 52-week range of $220.90 to $302.05. The consensus price target is $300.23.
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