Key Takeaways
- Domino's Pizza reported strong third-quarter profit- as order volumes increased.
- The pizza delivery giant's gross margin at U.S. company-owned stores was up 1.0 percentage point.
- However, revenue came up short of forecasts, and it gave soft guidance because of what it called a "challenging economic environment."
Domino's Pizza (DPZ) shares fell Thursdayꩲ morning when the pizza delivery giant's better-than-expected pr🦹ofit was offset by a revenue miss and soft guidance.
The company reported third-quarter 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $4.19, $0.59 above the consensus estimate of analysts surveyed by Visible Alpha. Revenue was up 5.1% year-over-year to $1.08 billion, but that was short of forecasts.
Domino’s said the performance was driven primarily by higher revenue from its supply chain, U.S. franchise advertising, and U.S. franchise royalties and fees. The company noted the supply chain gains came mostly from a rise in order volumes and an increase in the "food basket pricing to stores."
澳洲幸运5开奖号码历史查询:Gross margin at U.S. company-owned stores climbed 1.0 percentage point, ꧒which it attributed to "sales leverage due to higher customer transaction counts."
澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) Russell Weiner explained that the ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚresults demonstrate♉d the company's strategy is working "despite a pressured global marketplace."
Domino's Cuts Outlook on 'Challenging Macroeconomic Environment'
Domino’s warned that full-year performance will be affected by a "challenging macroeconomic environment and its impact on current business trends across the globe." It now sees 2024 global retail sales growth of 6%, down from at least 7%.
Shares of Domino's Pizza, which were basically flat year-to-date through Wednesday's close, slipped about 2% soon after the opening bell.
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